Travere Therapeutics (NASDAQ: TVTX) CRO sells shares after PSU vesting event
Rhea-AI Filing Summary
Travere Therapeutics Chief Research Officer William E. Rote reported a mix of equity award activity and a small share sale. On May 4, 2026, 4,250 performance-based restricted stock units converted into common stock after a cumulative FILSPARI net revenue performance criterion was met, and he received a new grant of 8,500 performance-based units. The filing notes that an additional 25% of these units is scheduled to vest on January 31, 2027, contingent on continued service. On May 6, 2026, he sold 2,763 shares of common stock at $43.95 per share under a pre-arranged Rule 10b5-1 trading plan that also covered tax obligations from the vesting. Following the transactions, he directly holds 115,474 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 2,763 shares ($121,434)
Net Sell
4 txns
Insider
ROTE WILLIAM E.
Role
Chief Research Officer
Sold
2,763 shs ($121K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,763 | $43.95 | $121K |
| Grant/Award | Performance-based restricted stock units | 8,500 | $0.00 | -- |
| Exercise | Performance-based restricted stock units | 4,250 | $0.00 | -- |
| Exercise | Common Stock | 4,250 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 115,474 shares (Direct);
Performance-based restricted stock units — 8,500 shares (Direct)
Footnotes (1)
- On January 31, 2024, the Reporting Person was granted performance restricted stock units (PSUs) covering 8,500 shares of the Issuer's common stock, to vest upon the satisfaction of certain performance criteria. If any such milestone is achieved on a pre-specified accelerated timeline, up to 50% additional shares attributable to such milestone achievement could vest under these PSU grants, with such additional potential shares to vest at a later date in furtherance of retention objectives. On May 4, 2026, 50% of the PSUs vested upon the Issuer's confirmation following the release of its financial results for the quarter ended March 31, 2026 that a performance criterion related to cumulative FILSPARI net revenue had been achieved, and contingent on continuous service by the Reporting Person, on January 31, 2027 an additional 25% of such PSUs will vest due to the timing of the achievement of such cumulative FILSPARI net revenue performance criterion. This sale was made pursuant to a written plan adopted on May 29, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and includes the sale of shares to cover the tax obligation that occurred upon the vesting of performance restricted stock units. Each PSU represents a contingent right to receive one share of the Issuer's common stock at target, subject to adjustment based on the achievement of applicable performance conditions.
Key Figures
Shares sold: 2,763 shares
Sale price: $43.95 per share
Shares held after transactions: 115,474 shares
+4 more
7 metrics
Shares sold
2,763 shares
Open-market sale on May 6, 2026 at $43.95 per share
Sale price
$43.95 per share
Common stock sale on May 6, 2026
Shares held after transactions
115,474 shares
Direct common stock holdings following reported transactions
PSUs converted
4,250 units
Performance-based restricted stock units converting into common stock on May 4, 2026
PSUs granted
8,500 units
Performance restricted stock unit grant dated January 31, 2024
Future PSU vesting
25% of certain PSUs
Scheduled to vest on January 31, 2027, contingent on continuous service
Net buy/sell shares
-2,763 shares
Net share disposition across reported buy/sell transactions
Key Terms
performance restricted stock units, Rule 10b5-1(c), cumulative FILSPARI net revenue, contingent right, +1 more
5 terms
performance restricted stock units financial
"the Reporting Person was granted performance restricted stock units (PSUs) covering 8,500 shares"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
Rule 10b5-1(c) regulatory
"a written plan adopted on May 29, 2025, meeting the requirements of Rule 10b5-1(c)"
Rule 10b5-1(c) is an SEC guideline that lets company insiders set up a written, pre-planned schedule to buy or sell their company stock when they are not in possession of material, nonpublic information. For investors, it matters because such plans can reduce the appearance of insider trading by separating decisions from inside knowledge—like putting your trades on autopilot—while also requiring scrutiny since pre-planned trades can still affect market confidence and share value.
cumulative FILSPARI net revenue financial
"a performance criterion related to cumulative FILSPARI net revenue had been achieved"
contingent right financial
"Each PSU represents a contingent right to receive one share of the Issuer's common stock"
tax obligation financial
"includes the sale of shares to cover the tax obligation that occurred upon the vesting"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Travere Therapeutics (TVTX) report for William E. Rote?
William E. Rote reported both equity award activity and a small sale. He converted 4,250 performance-based restricted stock units into common stock, received a grant of 8,500 performance units, and sold 2,763 common shares at $43.95 each in an open-market transaction.
What performance-based stock units did William E. Rote receive from Travere Therapeutics (TVTX)?
Rote was granted performance restricted stock units covering 8,500 shares. The PSUs were granted January 31, 2024, with vesting tied to performance criteria, including cumulative FILSPARI net revenue, and additional vesting linked to accelerated milestone achievement and retention objectives.
Which Travere Therapeutics (TVTX) performance milestone triggered William E. Rote’s PSU vesting?
Vesting was triggered by a cumulative FILSPARI net revenue performance criterion. On May 4, 2026, 50% of the performance restricted stock units vested after confirmation that this revenue target was achieved following the release of results for the quarter ended March 31, 2026.
When will additional Travere Therapeutics (TVTX) PSUs vest for William E. Rote?
An additional 25% of certain PSUs is scheduled to vest on January 31, 2027. This future vesting is contingent on the timing of the cumulative FILSPARI net revenue milestone achievement and Rote’s continuous service with Travere Therapeutics through that date.