SUPN insider sold 1,904 shares at $48.06 under 10b5-1 plan

Rhea-AI Filing Summary

Supernus Pharmaceuticals insider activity shows the company's President and CEO, Jack A. Khattar, completed option exercise and open-market sale transactions on 10/02/2025. He exercised 2,267 employee stock options at an exercise price of $25.3 per share, resulting in direct ownership of those 2,267 shares. On the same date he sold 1,904 shares in multiple trades at a weighted average price of $48.06. After these transactions the reporting person directly beneficially owned 1,161,233 shares and indirectly held 1,005,600 shares through the KBT Trust.

The exercise was made under an employee option schedule that vests in installments beginning 02/24/2018, and the sale was executed pursuant to a 10b5-1 trading plan adopted 11/14/2024. The filer offers to provide detailed breakdowns of sale prices within the reported $48.00–$48.08 range on request.

Positive

• 2,267 shares were acquired by exercise at an exercise price of $25.3
• The sale was executed pursuant to a 10b5-1 trading plan adopted on 11/14/2024
• Reporting person retains substantial indirect holdings of 1,005,600 shares via the KBT Trust

Negative

• A total of 1,904 shares were sold at a weighted average price of $48.06, reducing direct holdings to 1,161,233

Insights

Corporate Insider Trading Analyst

TL;DR: CEO exercised 2,267 options at $25.3 and sold 1,904 shares at a weighted $48.06 under a 10b5-1 plan.

The reporting shows an exercise of employee stock options and contemporaneous open-market sales on 10/02/2025. The exercise converted options into 2,267 common shares and the sale removed 1,904 shares from the reporter's direct holdings.

This filing also discloses indirect ownership of 1,005,600 shares via the KBT Trust, which remains separate from the direct transactions. The sale was executed under a 10b5-1 plan, indicating a pre-established trading arrangement.

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).

1. Name and Address of Reporting Person^*

Khattar Jack A.

(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
X	Officer (give title below)		Other (specify below)
	President, CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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	10/02/2025		M(1)		2,267	A	$25.3	1,163,137	D
Common Stock	10/02/2025		S		1,904	D	$48.06(2)	1,161,233	D
Common Stock								1,005,600	I	By the KBT Trust

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
Employee Stock Option (Right to Buy)	$25.3	10/02/2025		M			2,267	02/24/2018(3)	02/24/2027	Common Stock	2,267	$0	81,250	D

Explanation of Responses:

1. Transaction made pursuant to a 10b5-1 trading plan adopted November 14, 2024.

2. 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 $48.08. 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.

3. The option vests in four equal installments beginning on February 24, 2018

Remarks:

	/s/ Timothy C. Dec, as attorney-in-fact	10/03/2025
	** 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 transactions did SUPN insider Jack A. Khattar report on Form 4?

He reported exercising 2,267 employee stock options at $25.3 per share and selling 1,904 common shares at a weighted average price of $48.06 on 10/02/2025.

How many Supernus (SUPN) shares does the reporting person own after these transactions?

Following the transactions the reporting person directly beneficially owned 1,161,233 shares and indirectly held 1,005,600 shares through the KBT Trust.

Were the sales part of a pre-arranged plan for SUPN insider trades?

Yes, the sales were made pursuant to a 10b5-1 trading plan adopted on 11/14/2024.

Over what price range were the 1,904 shares sold?

The shares were sold in multiple transactions at prices ranging from $48.00 to $48.08; the Form 4 reports a weighted average of $48.06.

What is the exercisability and expiration context for the options exercised?

The exercised options are employee stock options with vesting in four equal installments beginning 02/24/2018, and an indicated expiration date of 02/24/2027 for the underlying option series.