[Form 4] Supernus Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Charles W. Newhall III, a director of Supernus Pharmaceuticals, Inc. (SUPN), reported the sale of 1,412 shares of the company’s common stock on 08/22/2025. The sales were made pursuant to a Rule 10b5-1 trading plan adopted March 3, 2025, and the price reported is a weighted average of $45, with individual sale prices ranging from $45.00 to $45.01. After the reported disposition, the reporting person beneficially owned 134,232 shares, held directly.

The filing is signed on behalf of the reporting person by an attorney-in-fact, Timothy C. Dec, dated 08/26/2025. The reporting person offers to provide details of the number of shares sold at each separate price within the disclosed range upon request.

Positive

• Transaction executed under a 10b5-1 trading plan, indicating it was pre-authorized
• Weighted average sale price disclosed ($45) and range ($45.00–$45.01) with offer to provide per-price details on request
• Post-transaction beneficial ownership disclosed (134,232 shares), providing transparency

Negative

• Disposition of 1,412 shares reduced the reporting person’s direct holdings
• No information on total outstanding shares or percentage ownership is provided in this filing, limiting context

Insights

Financial Analyst

TL;DR: Routine insider sale under a 10b5-1 plan; modest reduction in direct holdings does not by itself indicate a material change to ownership.

The report shows a small block disposal of 1,412 shares at an average price of $45 under a pre-established 10b5-1 plan adopted March 3, 2025. The filing discloses the post-transaction direct beneficial ownership of 134,232 shares. For investors, this is a transparent, rule-compliant insider sale; the size of the sale relative to total holdings reported here appears limited. No derivative transactions or additional material changes to ownership are reported.

Corporate Governance Expert

TL;DR: Compliance-focused disclosure: the sale was executed under a documented 10b5-1 plan and properly reported on Form 4.

The filing explicitly states the transaction was made pursuant to a 10b5-1 trading plan and provides the weighted average price and the disclosed price range. Signature by an attorney-in-fact is included. From a governance perspective, the form meets disclosure requirements and offers additional transparency by offering to provide per-price sale breakdowns on request. No stock option exercises, grants, or other governance actions are included in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

NEWHALL CHARLES W III

(Last) (First) (Middle)

C/O SUPERNUS PHARMACEUTICALS, INC.,

9715 KEY WEST AVENUE

(Street)

ROCKVILLE MD 20850

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SUPERNUS PHARMACEUTICALS, INC. [ SUPN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/22/2025		S(1)		1,412	D	$45(2)	134,232	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Transaction made pursuant to a 10b5-1 trading plan adopted March 3, 2025.

2. 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, inclusive. 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.

Remarks:

	/s/ Timothy C. Dec, as attorney-in-fact	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Charles W. Newhall III report on Form 4 for SUPN?

He reported the sale of 1,412 shares of Supernus Pharmaceuticals common stock on 08/22/2025, executed under a 10b5-1 plan.

Was the sale by the SUPN director part of a 10b5-1 plan?

Yes. The filing states the transaction was made pursuant to a 10b5-1 trading plan adopted March 3, 2025.

What price was reported for the shares sold in the SUPN Form 4?

The weighted average price reported was $45, with individual sale prices ranging from $45.00 to $45.01.

How many SUPN shares does the reporting person own after the sale?

134,232 shares of common stock are reported as beneficially owned following the disposition.

Who signed the Form 4 for the SUPN reporting person?

Timothy C. Dec signed as attorney-in-fact for the reporting person on 08/26/2025.