Supernus Insider Exercise and Sale: Khattar Reports 09/29/2025 Transactions
Rhea-AI Filing Summary
Jack A. Khattar, President & CEO and a director of Supernus Pharmaceuticals, Inc. (SUPN), reported option-related and open-market transactions on 09/29/2025. He acquired 13,688 shares by exercising employee stock options at an exercise price of $25.30 and, on the same date, sold 10,235 shares in transactions at a weighted average price of $48.02 (sales ranged from $48.00 to $48.14). After these transactions he beneficially owns 1,144,336 shares directly and 1,005,600 shares indirectly through the KBT Trust; he also holds 148,812 option shares underlying employee stock options. The exercise was recorded as part of an option vesting schedule; the sales were made pursuant to a 10b5-1 trading plan adopted November 14, 2024. The form was signed by an attorney-in-fact on 09/30/2025.
Positive
- Transactions executed under a 10b5-1 plan adopted November 14, 2024, indicating pre-planned sales and reduced appearance of opportunistic timing
- Detailed disclosure of weighted-average sale price range ($48.00–$48.14) and an offer to provide per-price breakdowns on request
- Timely reporting with Form 4 signed by attorney-in-fact on 09/30/2025, showing compliance with Section 16 reporting obligations
Negative
- None.
Insights
TL;DR: Insider exercised options and partially sold shares under a 10b5-1 plan; net direct holdings remain substantial.
The filing shows a routine insider exercise of 13,688 option shares at $25.30 and the sale of 10,235 shares at a weighted average of $48.02, executed under a pre-established 10b5-1 plan. The transactions modestly changed direct ownership from 1,154,571 to 1,144,336 shares, while the reporting person retains significant indirect holdings via the KBT Trust (1,005,600 shares) and retains 148,812 option shares outstanding. From a capital-structure viewpoint, these actions are routine liquidity and option-exercise events rather than material shifts in control or strategy.
TL;DR: Disclosure follows standard practice; use of a 10b5-1 plan indicates pre-planned sales and reduces informational asymmetry.
The Form 4 discloses timely reporting of option exercise and contemporaneous open-market sales executed under a 10b5-1 plan adopted on November 14, 2024. The reporting includes the weighted-average sale price range and an undertaking to provide per-price breakdowns if requested, which enhances transparency. The filing was executed by an attorney-in-fact and includes vesting detail for the option tranche, aligning with standard governance and compliance protocols.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 13,688 | $0.00 | -- |
| Exercise | Common Stock | 13,688 | $25.30 | $346K |
| Sale | Common Stock | 10,235 | $48.02 | $491K |
| 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 $48.00 to $48.14. 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 vests in four equal installments beginning on February 24, 2018
