Travere Therapeutics (NASDAQ: TVTX) director sells 8K shares after option exercise

Rhea-AI Filing Summary

Travere Therapeutics director Gary A. Lyons exercised stock options and sold shares on the same day. He exercised options for 8,000 shares of Common Stock at an exercise price of $16.3300 per share, then sold 8,000 shares at $41.0700 per share.

The sale was carried out under a pre-arranged Rule 10b5-1(c) trading plan adopted on November 11, 2025, and involved shares underlying options expiring on May 18, 2026. Following these transactions, he directly holds 57,500 shares of Travere Therapeutics Common Stock.

Insights

Equity compensation and insider trading analyst

Director executes pre-planned option exercise-and-sell, retains sizable equity stake.

Director Gary A. Lyons exercised stock options for 8,000 shares of Travere Therapeutics Common Stock at an exercise price of $16.3300 per share and immediately sold 8,000 shares at $41.0700 per share. This is a classic exercise-and-sell pattern converting an option position into cash and stock.

The footnotes state the sale was made under a written trading plan meeting Rule 10b5-1(c) requirements, which indicates the sale was pre-planned rather than opportunistic. After these transactions, Lyons directly holds 57,500 shares, suggesting he maintains a meaningful ongoing position even after monetizing this option grant.

Insider Trade Summary 10b5-1

Exercise and Sale: 8,000 shares ($198K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider LYONS GARY A

Role Director

Sold 8,000 shs ($329K)

Approx. gross sale proceeds $329K

Approx. exercise cost $131K

Approx. pre-tax spread $198K

Type	Security	Shares	Price	Value
Exercise	Stock option (right to buy)	8,000	$0.00	$0.00
Exercise	Common Stock	8,000	$16.33	$131K
Sale	Common Stock	8,000	$41.07	$329K

Holdings After Transaction: Stock option (right to buy) — 0 shares (Direct); Common Stock — 57,500 shares (Direct)

Footnotes (2)

1. F1. This sale was made pursuant to a written plan adopted on November 11, 2025 meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and consists of the sale of shares underlying a stock option granted to the Reporting Person with an expiration date of May 18, 2026.
2. F2. The stock option is fully vested and exercisable.

Key Figures

Options exercised: 8,000 shares Option exercise price: $16.3300 per share Shares sold: 8,000 shares +3 more

6 metrics

Options exercised 8,000 shares Stock option exercise on April 14, 2026

Option exercise price $16.3300 per share Exercise price of stock option

Shares sold 8,000 shares Open-market sale on April 14, 2026

Sale price $41.0700 per share Price for Common Stock sale

Shares held after transactions 57,500 shares Direct Common Stock holdings after Form 4 transactions

Option expiration date May 18, 2026 Expiration date of exercised stock option

Key Terms

Stock option (right to buy), Rule 10b5-1(c), Common Stock, Exercise or conversion of derivative security, +1 more

5 terms

Stock option (right to buy) financial

"security_title: "Stock option (right to buy)""

Rule 10b5-1(c) regulatory

"written plan adopted on November 11, 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.

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

Sale in open market or private transaction financial

"transaction_code_description: "Sale in open market or private transaction""

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/16/2026 - 04:05 PM Learn about SEC filing dates

FAQ

What insider transaction did Travere Therapeutics (TVTX) director Gary A. Lyons report?

Director Gary A. Lyons reported exercising options for 8,000 Travere Therapeutics shares and selling 8,000 Common Stock shares. The exercise price was $16.3300 per share, and the sale price was $41.0700 per share, all on April 14, 2026, in direct holdings.

At what prices did Gary A. Lyons exercise and sell Travere Therapeutics (TVTX) shares?

He exercised stock options at $16.3300 per share and sold 8,000 Travere Therapeutics Common Stock shares at $41.0700 per share. Both transactions occurred on April 14, 2026, reflecting an exercise-and-sell sequence tied to a single option grant.

How many Travere Therapeutics (TVTX) shares does Gary A. Lyons hold after this Form 4?

Following the reported transactions, Gary A. Lyons directly owns 57,500 shares of Travere Therapeutics Common Stock. This figure reflects his position after exercising options for 8,000 shares and selling 8,000 shares, as disclosed in the Form 4 filing data.

Was the Travere Therapeutics (TVTX) insider sale made under a Rule 10b5-1 plan?

Yes. The filing footnote states the sale was made under a written plan adopted November 11, 2025 that meets Rule 10b5-1(c) requirements. Such pre-arranged trading plans typically indicate routine, scheduled selling rather than discretionary timing decisions.

What derivative security did Gary A. Lyons exercise in the Travere Therapeutics (TVTX) filing?

He exercised a stock option covering 8,000 shares of Travere Therapeutics Common Stock with an exercise price of $16.3300 per share and an expiration date of May 18, 2026. The option was fully vested and exercisable at the time of the transaction.

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).

X

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^*

LYONS GARY A

(Last) (First) (Middle)

C/O TRAVERE THERAPEUTICS, INC.

3611 VALLEY CENTRE DR., SUITE 300

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Travere Therapeutics, Inc. [ TVTX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/14/2026		M		8,000	A	$16.33	65,500	D
Common Stock	04/14/2026		S(1)		8,000	D	$41.07	57,500	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
Stock option (right to buy)	$16.33	04/14/2026		M		8,000		(2)	05/18/2026	Common Stock	8,000	$0	0	D

Explanation of Responses:

1. This sale was made pursuant to a written plan adopted on November 11, 2025 meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and consists of the sale of shares underlying a stock option granted to the Reporting Person with an expiration date of May 18, 2026.

2. The stock option is fully vested and exercisable.

	/s/ Elizabeth E. Reed, Attorney-in-Fact	04/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)