Turning Point Brands (TPB) director reports 1,500-share stock sale

Rhea-AI Filing Summary

Turning Point Brands, Inc. (TPB) reported an insider transaction by director Gregory Baxter on a Form 4. On 11/21/2025, Baxter sold 1,500 shares of TPB common stock in an open-market transaction coded as an "S" sale. The weighted average sale price was $98.23 per share, with individual trades executed at prices ranging from $97.64 to $98.95.

After this sale, Baxter beneficially owned a total of 38,919 TPB shares, consisting of 37,681 shares of common stock and 1,058 restricted stock units. The filing indicates the securities are held directly by the reporting person and that the report was filed by one reporting person rather than a group.

Insider Trade Summary

Net Seller: 1,500 shares ($147,345)

Net Sell 1 txn

Insider Baxter Gregory H.A.

Role Director

Sold 1,500 shs ($147K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,500	$98.23	$147K

Holdings After Transaction: Common Stock — 38,919 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.64 to $98.95. The total reported in Column 5 includes 1,058 restricted stock units and 37,681 shares of common stock

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Baxter Gregory H.A.

(Last) (First) (Middle)

5201 INTERCHANGE WAY

(Street)

LOUISVILLE KY 40229

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Turning Point Brands, Inc. [ TPB ]

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)
11/21/2025

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	11/21/2025		S		1,500	D	$98.23(1)	38,919(2)	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.64 to $98.95.

2. The total reported in Column 5 includes 1,058 restricted stock units and 37,681 shares of common stock

	/s/ Gregory Baxter	11/21/2025
	** 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 insider transaction did TPB report in this Form 4?

The Form 4 reports that director Gregory Baxter sold 1,500 shares of Turning Point Brands, Inc. (TPB) common stock in an open-market sale coded as an "S" transaction.

At what price were the TPB shares sold in Gregory Baxter’s Form 4 filing?

The sale was reported at a weighted average price of $98.23 per share, with multiple trades executed at prices ranging from $97.64 to $98.95.

How many TPB shares does Gregory Baxter own after this Form 4 transaction?

Following the reported sale, Gregory Baxter beneficially owned 38,919 TPB shares, consisting of 37,681 shares of common stock and 1,058 restricted stock units, all reported as directly held.

What is Gregory Baxter’s relationship to Turning Point Brands (TPB)?

In the Form 4, the reporting person, Gregory Baxter, is identified as a director of Turning Point Brands, Inc. (TPB).

Was the TPB Form 4 filed by more than one reporting person?

No. The Form 4 indicates that it was filed by one reporting person, not by a joint or group filing.

Did the Form 4 for TPB include any derivative securities transactions?

The Form 4 includes a table for derivative securities, but in this report no derivative securities transactions are listed with amounts acquired or disposed of.