Supernus (SUPN) CEO Executes 10b5-1 Plan: Option Exercise and Share Sale
Rhea-AI Filing Summary
Jack A. Khattar, President, CEO and a director of Supernus Pharmaceuticals (SUPN), reported transactions on 09/23/2025. He acquired 47,940 shares by exercising employee stock options with an exercise price of $12.98 (options vested in installments beginning 03/01/2017; expiration 03/01/2026). On the same date he sold 29,513 shares in multiple transactions at a weighted average price of $47.23. The acquisition was made pursuant to a 10b5-1 trading plan adopted 11/14/2024. Following these transactions his direct beneficial ownership is reported as 1,140,883 shares, and he also holds 1,005,600 shares indirectly through the KBT Trust. The form was signed by an attorney-in-fact on 09/24/2025.
Positive
- Option exercise increased direct ownership by 47,940 shares at a $12.98 strike, indicating continued equity stake alignment with shareholders
- Trades executed under a 10b5-1 plan adopted 11/14/2024, which signals preplanned and compliant insider trading
Negative
- Disposition of 29,513 shares at a weighted average price of $47.23 reduced direct holdings from 1,170,396 to 1,140,883 shares
Insights
TL;DR: CEO exercised options and sold a portion of shares under a pre-established 10b5-1 plan, indicating routine, preplanned liquidity rather than opportunistic trading.
The filings show simultaneous option exercise and share disposals executed under an established 10b5-1 plan dated 11/14/2024. Exercising options at $12.98 increased direct holdings by 47,940 shares while subsequent sales of 29,513 shares at a weighted average of $47.23 reduced direct holdings. The presence of the 10b5-1 plan and attorney-in-fact signature are consistent with compliant insider trading practice and planned liquidity management. No disclosures in this Form 4 indicate departures, related-party transactions, or governance changes.
TL;DR: Transaction net increased insider-held shares, with part of position monetized at ~$47.23; actions are executed under a pre-approved trading plan.
The reported option exercise at a $12.98 strike materially increased direct share count by 47,940 shares, while the sale of 29,513 shares at a weighted average of $47.23 realized proceeds for the reporting person. The filings quantify post-transaction direct ownership at 1,140,883 shares and indirect ownership of 1,005,600 shares via the KBT Trust. These are routine executive equity transactions and provide transparency on insider ownership levels but do not include company financial performance metrics.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 47,940 | $0.00 | -- |
| Exercise | Common Stock | 47,940 | $12.98 | $622K |
| Sale | Common Stock | 29,513 | $47.23 | $1.39M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Transaction made pursuant to a 10b5-1 trading plan adopted November 14, 2024. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.00 to $47.55. The Reporting Person undertakes to provide to Supernus Pharmaceuticals, Inc. ("Supernus"), any security holder of Supernus, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4. The option vested in four equal installments beginning on March 1, 2017.
