Why were some Travere Therapeutics (TVTX) CFO share sales classified as tax-related?

Footnotes state certain sales represented shares sold to cover tax withholding obligations from vested restricted and performance stock units. Under the company’s equity plans, the CFO was required to complete “sell to cover” transactions through a designated broker, so those sales were not discretionary trades.

Were Travere Therapeutics (TVTX) CFO share sales made under a Rule 10b5-1 plan?

A footnote explains that certain sales were executed under a written plan adopted on May 28, 2025 that met Rule 10b5-1(c) requirements. Such pre-arranged trading plans schedule transactions in advance, reducing the significance of timing decisions around those specific sales.

Travere (NASDAQ: TVTX) CFO trades shares after PSU vesting and tax sales

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Travere Therapeutics’ chief financial officer, Christopher R. Cline, reported a mix of equity compensation and share sales in Travere Therapeutics, Inc. common stock. He received 14,000 shares on April 13, 2026 as a grant tied to performance restricted stock units that vested after the U.S. Food and Drug Administration approved FILSPARI (sparsentan) for FSGS.

Between April 13 and 15, 2026, he sold a total of 8,327 shares in open-market transactions at prices ranging from about $28.85 to $42.61. Footnotes explain that part of these sales were mandated “sell to cover” transactions to satisfy tax withholding on vested restricted and performance stock units, and others were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 28, 2025. After these transactions, he directly holds 116,899 shares of Travere common stock.

Insider Trade Summary 10b5-1

Net Seller: 8,327 shares ($348,974)

Net Sell 5 txns

Insider Cline Christopher R.

Role CHIEF FINANCIAL OFFICER

Sold 8,327 shs ($349K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,014	$42.61	$43K
Sale	Common Stock	9	$41.07	$369.63
Sale	Common Stock	7,239	$41.9288	$304K
Grant/Award	Common Stock	14,000	$0.00	--
Sale	Common Stock	65	$28.85	$2K

Holdings After Transaction: Common Stock — 116,899 shares (Direct)

Footnotes (1)

On January 31, 2025, the reporting person was granted performance restricted stock units (PSUs) which PSUs vested on April 13, 2026 upon the Issuer's confirmation that the U.S. Food and Drug Administration (FDA) had granted approval of FILSPARI (sparsentan) in FSGS. Represents the number of shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement of vested restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction with a brokerage firm designated by the Issuer. This sale does not represent a discretionary trade by the Reporting Person. This sale was made pursuant to a written plan adopted on May 28, 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 restricted stock units. Represents the number of shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement of vested performance restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction with a brokerage firm designated by the Issuer. This sale does not represent a discretionary trade by the Reporting Person. This sale was made pursuant to a written plan adopted on May 28, 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.

Key Figures

Shares granted: 14,000 shares Shares sold (total): 8,327 shares Sale price (April 15, 2026): $42.61 per share +3 more

6 metrics

Shares granted 14,000 shares Performance restricted stock units vested on April 13, 2026

Shares sold (total) 8,327 shares Net shares sold across April 13–15, 2026

Sale price (April 15, 2026) $42.61 per share 1,014-share open-market sale

Largest single sale 7,239 shares at $41.9288 Open-market sale on April 14, 2026

Tax-related sale 65 shares at $28.85 Sale on April 13, 2026 tied to tax withholding

Shares held after transactions 116,899 shares Direct ownership following April 15, 2026 sale

Key Terms

performance restricted stock units (PSUs), sell to cover, Rule 10b5-1(c), tax withholding obligation, +1 more

5 terms

performance restricted stock units (PSUs) financial

"the reporting person was granted performance restricted stock units (PSUs) which PSUs vested on April 13, 2026"

sell to cover financial

"require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

Rule 10b5-1(c) regulatory

"written plan adopted on May 28, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934"

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.

tax withholding obligation financial

"shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement"

U.S. Food and Drug Administration (FDA) regulatory

"upon the Issuer's confirmation that the U.S. Food and Drug Administration (FDA) had granted approval of FILSPARI"

The U.S. Food and Drug Administration (FDA) is a government agency responsible for protecting public health by ensuring the safety and effectiveness of food, medicines, vaccines, and other health-related products. For investors, the FDA’s decisions can significantly impact companies in the healthcare and food industries, as approval or rejection of products can influence a company's success and stock performance.

Form 4 Insider Transactions: What Each Field Means →

04/15/2026 - 09:46 PM

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^*

Cline Christopher R.

(Last)

(First)

(Middle)

C/O TRAVERE THERAPEUTICS, INC.

3611 VALLEY CENTRE DRIVE, STE 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/13/2026		A⁽¹⁾		14,000	A	$0	125,226	D
Common Stock	04/13/2026		S⁽²⁾		65	D	$28.85	125,161	D
Common Stock	04/14/2026		S⁽³⁾		9	D	$41.07	125,152	D
Common Stock	04/14/2026		S⁽⁴⁾		7,239	D	$41.9288	117,913	D
Common Stock	04/15/2026		S⁽⁵⁾		1,014	D	$42.61	116,899	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. On January 31, 2025, the reporting person was granted performance restricted stock units (PSUs) which PSUs vested on April 13, 2026 upon the Issuer's confirmation that the U.S. Food and Drug Administration (FDA) had granted approval of FILSPARI (sparsentan) in FSGS.

2. Represents the number of shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement of vested restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction with a brokerage firm designated by the Issuer. This sale does not represent a discretionary trade by the Reporting Person.

3. This sale was made pursuant to a written plan adopted on May 28, 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 restricted stock units.

4. Represents the number of shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement of vested performance restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction with a brokerage firm designated by the Issuer. This sale does not represent a discretionary trade by the Reporting Person.

5. This sale was made pursuant to a written plan adopted on May 28, 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.

	/s/ Elizabeth E. Reed, Attorney-in-Fact	04/15/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Travere Therapeutics (TVTX) CFO report?

Travere’s CFO, Christopher R. Cline, reported a 14,000-share equity grant and sales totaling 8,327 shares of common stock. The sales occurred over April 13–15, 2026 at prices mostly in the low-$40 range, leaving him with 116,899 directly held shares.

How many Travere Therapeutics (TVTX) shares did the CFO sell and at what prices?

Across several trades, the CFO sold 8,327 Travere Therapeutics shares. Reported sale prices ranged from about $28.85 to $42.61 per share. These include smaller sales and a larger 7,239-share transaction, all classified as open-market sales in the filing.

What is the significance of FDA approval of FILSPARI for Travere Therapeutics (TVTX) CFO’s grant?

The CFO’s 14,000-share grant came from performance restricted stock units that vested when FDA approval of FILSPARI (sparsentan) for FSGS was confirmed. This approval served as the performance milestone, triggering vesting and settlement of those units into Travere common shares.