Trevi Therapeutics (TRVI) Files Form 144 — 312,855 Shares Listed for Sale

Rhea-AI Filing Summary

Trevi Therapeutics (TRVI) filed a Form 144 reporting a proposed sale of common stock through Stifel Nicolaus & Company. The notice lists 312,855 shares to be sold with an aggregate market value of $2,532,530, against total shares outstanding of 121,776,855. The approximate date of sale is 08/27/2025 and the securities exchange is Nasdaq.

The filing discloses how the shares were acquired: 65,712 shares from restricted stock units dated 02/15/2023 (paid 02/16/2023 in cash) and 259,576 shares from an option exercise dated 02/26/2023 (paid 02/16/2023 in cash). No securities were reported sold by the person in the past three months. The filer signs the standard representation that they do not possess nonpublic material adverse information about the issuer.

Positive

• Full compliance disclosure with Rule 144 including broker, exchange, share count, and aggregate market value
• Detailed acquisition history showing shares originated from RSUs and an option exercise with payment dates
• No sales in prior three months reported for the person whose account the securities will be sold from
• Standard attestation that the filer does not possess undisclosed material adverse information

Negative

• None.

Insights

Financial Analyst

TL;DR: Form 144 discloses a proposed sale of 312,855 TRVI shares via Stifel with full acquisition details and no recent sales reported.

The filing provides clear, transaction-level disclosure: number of shares, aggregate market value, broker, exchange, and acquisition history (RSUs and option exercise with payment dates). For market participants, this is a routine compliance notice under Rule 144 rather than an earnings or operational disclosure. The absence of securities sold in the prior three months is explicitly stated. The document contains no forward-looking statements or additional context about the filer’s motivations.

Corporate Governance Expert

TL;DR: The Form 144 adheres to Rule 144 disclosure requirements and includes the standard signer representation about material nonpublic information.

The report names the broker (Stifel Nicolaus & Company), the Nasdaq as the exchange, and details the origin of the shares (restricted stock units and option exercise) with acquisition and payment dates. The signature section includes the mandatory attestation regarding material adverse information. There are no governance anomalies, executive departures, or unusual payment arrangements disclosed within this filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Stifel Nicolaus & Company Inc 501 N Broadway St. Louis MO 63102	312855	2532530.00	121776855	08/27/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	02/15/2023	Restricted Stock Units	Issuer			65712	02/16/2023	Cash
Common Stock	02/26/2023	Option Exercise	Issuer			259576	02/16/2023	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Trevi Therapeutics' (TRVI) Form 144 report?

The filing reports a proposed sale of 312,855 shares of common stock via Stifel Nicolaus, with an aggregate market value of $2,532,530 and an approximate sale date of 08/27/2025.

Which broker and exchange are named on the TRVI Form 144?

The broker is Stifel Nicolaus & Company Inc and the securities are to be sold on Nasdaq.

How were the shares being sold by the TRVI filer acquired?

The shares consist of 65,712 from restricted stock units dated 02/15/2023 and 259,576 from an option exercise dated 02/26/2023, with payment recorded on 02/16/2023.

Did the filer report any securities sold in the past three months?

The filing states Nothing to Report for securities sold during the past three months by the person for whose account the securities are to be sold.

Does the Form 144 include any representation about material nonpublic information?

Yes. The signer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.