[Form 4] Turning Point Brands, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Turning Point Brands (TPB) insider trading disclosure: Senior Vice President and General Counsel Brittani Cushman reported multiple stock option exercises and same-day sales on 11/19/2025.

She exercised several blocks of Turning Point Brands common stock options, including 3,000, 4,000, 3,250 and 2,500 shares at exercise prices of $14.85, $21.21, $15.41 and $13.00, respectively, under the company’s 2015 Equity Incentive Plan. The exercised shares were then sold in matching amounts at a sale price of $101.66 per share.

After these transactions, Cushman directly beneficially owns 34,687 shares of common stock. The filing notes that certain totals in the table include 9,434 restricted stock units and 32,753 shares of common stock, and also that 406.806 shares are held indirectly by her spouse, for which she disclaims beneficial ownership.

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
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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^*

Cushman Brittani

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr VP, General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

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	11/19/2025		M		3,000	A	$14.85	37,687(10)	D
Common Stock	11/19/2025		S		3,000(11)	D	$101.66	34,687	D
Common Stock	11/19/2025		M		4,000	A	$21.21	38,687(12)	D
Common Stock	11/19/2025		S		4,000(13)	D	$101.66	34,687	D
Common Stock	11/19/2025		M		3,250	A	$15.41	37,937(14)	D
Common Stock	11/19/2025		S		3,250(15)	D	$101.66	34,687	D
Common Stock	11/19/2025		M		2,500	A	$13	37,187(16)	D
Common Stock	11/19/2025		S		2,500(17)	D	$101.66	34,687	D
Common Stock	11/19/2025		M		2,500	A	$13	37,187(16)	D
Common Stock	11/19/2025		S		2,500(17)	D	$101.66	34,687	D
Common Stock								406.806	I	By Spouse(1)

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
Options(9)	$30.46							(8)	03/14/2032	Common Stock	8,000		8,000	D
Options(2)	$51.75							(3)	02/18/2031	Common Stock	7,000		7,000	D
Options(2)	$14.85	11/19/2025		M			3,000	(4)	03/18/2030	Common Stock	6,000	$14.85	3,000	D
Options(2)	$47.58							(5)	03/20/2029	Common Stock	4,800		4,800	D
Options(2)	$21.21	11/19/2025		M			4,000	(6)	03/07/2028	Common Stock	4,500	$21.21	500	D
Options(2)	$15.41	11/19/2025		M			3,250	(7)	05/14/2027	Common Stock	3,250	$15.41	0	D
Options(2)	$13	11/19/2025		M			2,500	(7)	02/14/2027	Common Stock	10,000	$13	0	D
Options(2)	$13	11/19/2025		M			2,500	(7)	02/14/2027	Common Stock	10,000	$13	0	D

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of these securities, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.

2. Granted pursuant to the issuer's 2015 Equity Incentive Plan

3. The options vest and become exercisable as to 34% of the underlying shares on January 1, 2022, 33% of the underlying shares on January 1, 2023 and 33% of the underlying shares on January 1, 2024.

4. The options vest and become exercisable as to 34% of the underlying shares on January 1, 2021, 33% of the underlying shares on January 1, 2022 and 33% of the underlying shares on January 1, 2023.

5. The options vest and become exercisable as to 34% of the underlying shares on January 1, 2020, 33% of the underlying shares on January 1, 2021 and 33% of the underlying shares on January 1, 2022.

6. The options vest and become exercisable as to 34% of the underlying shares on January 1, 2019, 33% of the underlying shares on January 1, 2020 and 33% of the underlying shares on January 1, 2021.

7. The options vested and became exercisable as to 34% of the underlying shares on January 1, 2018, 33% of the underlying shares on January 1, 2019 and 33% of the underlying shares on January 1, 2020.

8. The options vest and become exercisable as to 34% of the underlying shares on January 1, 2023, 33% of the underlying shares on January 1, 2024 and 33% of the underlying shares on January 1, 2025.

9. Granted pursuant to the issuer's 2021 Equity Incentive Plan.

10. The reported transaction involved the reporting person's exercise of 3,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.

11. The reported transaction involved the reporting person's disposition of the exercised 3,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.

12. The reported transaction involved the reporting person's exercise of 4,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.

13. The reported transaction involved the reporting person's disposition of the exercised 4,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.

14. The reported transaction involved the reporting person's exercise of 3,250 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.

15. The reported transaction involved the reporting person's disposition of the exercised 3,250 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.

16. The reported transaction involved the reporting person's exercise of 2,500 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.

17. The reported transaction involved the reporting person's disposition of the exercised 2,500 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.

	/s/ Brittani Cushman	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 executive Brittani Cushman report on this Form 4?

Brittani Cushman, Senior Vice President and General Counsel of Turning Point Brands (TPB), reported multiple option exercises and same-day sales of common stock on 11/19/2025.

How many TPB stock options did Brittani Cushman exercise and at what prices?

She exercised several blocks of options for 3,000, 4,000, 3,250 and 2,500 shares at exercise prices of $14.85, $21.21, $15.41 and $13.00 per share, respectively, under the 2015 Equity Incentive Plan.

At what price were the TPB shares sold in Brittani Cushmans Form 4 filing?

The shares acquired through option exercises were sold in matching amounts at a sale price of $101.66 per share on 11/19/2025.

How many TPB shares does Brittani Cushman own after the reported transactions?

Following the reported transactions, Brittani Cushman directly beneficially owns 34,687 shares of Turning Point Brands common stock.

What restricted stock units and common shares are referenced in the TPB Form 4 totals?

The explanation notes that certain totals in Column 5 include 9,434 restricted stock units and 32,753 shares of TPB common stock.

Does Brittani Cushman report any indirect ownership of TPB shares?

Yes. The filing reports 406.806 TPB shares held indirectly by her spouse, and states that she disclaims beneficial ownership of these securities.

Under which plans were the TPB stock options in this Form 4 granted?

Certain options were granted under the companys 2015 Equity Incentive Plan, and other options referenced in the derivative table were granted under the 2021 Equity Incentive Plan.