Supernus (SUPN) CEO Khattar Exercises 1,611 Options, Sells 1,000 Shares
Rhea-AI Filing Summary
Insider transactions by Supernus Pharmaceuticals (SUPN): Jack A. Khattar, President & CEO and a director, exercised 1,611 employee stock options with an exercise price of $12.98 on 08/25/2025, acquiring 1,611 shares. The exercise was made pursuant to an employee option that vested in four equal installments beginning March 1, 2017. On the same date he sold 1,000 shares at an average price of $45.00 (reported weighted average $45, range $45.00–$45.01).
Following these transactions Khattar beneficially owned 1,072,459 shares directly and 1,005,600 shares indirectly through the KBT Trust. The exercise and sale were executed under a 10b5-1 trading plan adopted November 14, 2024. The Form 4 was signed by an attorney-in-fact on 08/27/2025.
Positive
- Exercise of in-the-money options at $12.98 locks in gains while allowing continued ownership
- Significant remaining ownership: 1,072,459 shares direct and 1,005,600 shares indirect via the KBT Trust
- Trade executed under a 10b5-1 plan (adopted 11/14/2024), which supports compliance and reduces timing concerns
Negative
- Disposition of 1,000 shares at an average of $45.00 reduces direct holdings, though the sale size is small relative to total ownership
Insights
TL;DR: CEO exercised in-the-money options and sold a small tranche under a pre-established 10b5-1 plan; holdings remain substantial.
The exercise of 1,611 options at $12.98 and the concurrent sale of 1,000 shares at ~$45 is a common insider liquidity event that realizes option gains while retaining significant equity exposure. Direct beneficial ownership remains at 1,072,459 shares with an additional 1,005,600 indirectly held, indicating sustained alignment with shareholders. The use of a 10b5-1 plan adds procedural clarity and reduces concerns about opportunistic timing.
TL;DR: Transactions appear routine and compliant; the 10b5-1 plan and signed Form 4 support governance controls.
The filing discloses that the sale was made pursuant to a 10b5-1 plan adopted on 11/14/2024, which typically mitigates insider trading risk by pre-scheduling trades. The Form 4 includes required explanations and an attorney-in-fact signature, meeting disclosure norms. No unusual timing, large one-off disposition, or change in officer/director status is reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 1,611 | $0.00 | -- |
| Exercise | Common Stock | 1,611 | $12.98 | $21K |
| Sale | Common Stock | 1,000 | $45.00 | $45K |
| 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 $45.00 to $45.01. 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.
