Travere Therapeutics (TVTX) CFO grants, vests PSUs and sells 2,491 shares

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Travere Therapeutics’ CFO Christopher R. Cline reported a mix of equity awards, vesting and share sales. On May 4, 2026, he exercised performance-based restricted stock units (PSUs) covering 4,250 shares of common stock at a conversion price of $0.00 per share, following the vesting of 50% of PSUs originally granted on January 31, 2024. Those PSUs vested after the company confirmed that a performance criterion tied to cumulative FILSPARI net revenue for the quarter ended March 31, 2026 had been achieved. The same grant allows up to 50% additional shares to vest on an accelerated timeline and provides that a further 25% will vest on January 31, 2027, contingent on continued service.

Also on May 4, 2026, he received a new grant of 8,500 PSUs, each representing a contingent right to one share of common stock at target, subject to performance adjustments. On May 5 and May 6, 2026, he sold a total of 2,491 shares of common stock at prices of $46.65 and $43.95 per share. According to the footnotes, these sales were executed under a written Rule 10b5-1(c) trading plan adopted on May 28, 2025 and include shares sold to cover tax withholding obligations arising from PSU vesting. After these transactions, he directly owned 118,658 shares of Travere Therapeutics common stock.

Insider Trade Summary 10b5-1

Net Seller: 2,491 shares ($115,368)

Net Sell 5 txns

Insider Cline Christopher R.

Role CHIEF FINANCIAL OFFICER

Sold 2,491 shs ($115K)

Type	Security	Shares	Price	Value
Sale	Common Stock	310	$43.95	$14K
Sale	Common Stock	2,181	$46.65	$102K
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 — 118,658 shares (Direct, null); Performance-based restricted stock units — 8,500 shares (Direct, null)

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. 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. 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: 2,491 shares Sale prices: $46.65 and $43.95 per share PSUs exercised: 4,250 shares +4 more

7 metrics

Shares sold 2,491 shares Open-market sales on May 5–6, 2026

Sale prices $46.65 and $43.95 per share Common stock sales on May 5 and May 6, 2026

PSUs exercised 4,250 shares Performance-based restricted stock units converted on May 4, 2026

New PSU grant 8,500 PSUs Grant of performance restricted stock units on May 4, 2026

Common shares held 118,658 shares Direct holdings after transactions

Potential extra vesting Up to 50% additional shares Possible accelerated PSU vesting on milestone achievement

Future PSU vesting 25% of PSUs on January 31, 2027 Contingent on continued service and prior performance timing

Key Terms

performance restricted stock units, FILSPARI, Rule 10b5-1(c), sell to cover, +1 more

5 terms

performance restricted stock units financial

"On January 31, 2024, 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.

FILSPARI other

"a performance criterion related to cumulative FILSPARI net revenue had been achieved"

Rule 10b5-1(c) regulatory

"a 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.

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.

cumulative FILSPARI net revenue financial

"a performance criterion related to cumulative FILSPARI net revenue had been achieved"

Form 4 Insider Transactions: What Each Field Means →

05/06/2026 - 08:00 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)
05/04/2026

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	05/04/2026		M⁽¹⁾		4,250	A	$0	121,149	D
Common Stock	05/05/2026		S⁽²⁾		2,181	D	$46.65	118,968	D
Common Stock	05/06/2026		S⁽³⁾		310	D	$43.95	118,658	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)
Performance-based restricted stock units	⁽⁴⁾	05/04/2026		A⁽¹⁾		8,500		⁽¹⁾	⁽¹⁾	Common Stock	8,500	$0	8,500	D
Performance-based restricted stock units	⁽⁴⁾	05/04/2026		M⁽¹⁾			4,250	⁽¹⁾	⁽¹⁾	Common Stock	4,250	$0	4,250	D

Explanation of Responses:

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.

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 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.

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 performance restricted stock units.

4. 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.

	/s/ Elizabeth E. Reed, Attorney-in-Fact	05/06/2026
	** 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) disclose for CFO Christopher Cline?

Travere Therapeutics reported that CFO Christopher R. Cline exercised performance-based restricted stock units for 4,250 common shares, received a grant of 8,500 new PSUs, then sold 2,491 shares in open-market transactions tied partly to tax withholding obligations under a Rule 10b5-1 trading plan.

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

The CFO sold 2,491 shares of Travere Therapeutics common stock in two open-market transactions at prices of $46.65 and $43.95 per share. Footnotes state these sales were executed under a Rule 10b5-1(c) trading plan and include shares sold to cover tax withholding from vested PSUs.

What equity awards did the Travere Therapeutics (TVTX) CFO receive in this Form 4 filing?

On January 31, 2024, the CFO was granted performance restricted stock units covering 8,500 shares, and on May 4, 2026, another 8,500 PSUs. Each PSU represents a contingent right to receive one share of common stock, subject to performance criteria and potential adjustments based on achievement levels.

Why did the Travere Therapeutics (TVTX) CFO’s PSUs vest on May 4, 2026?

Half of the CFO’s PSUs vested on May 4, 2026 after Travere confirmed that a performance criterion related to cumulative FILSPARI net revenue for the quarter ended March 31, 2026 was achieved. This vesting depended on meeting that metric and the CFO’s continuing service with the company.

How many Travere Therapeutics (TVTX) shares does the CFO hold after these transactions?

Following the reported transactions, the CFO directly owned 118,658 shares of Travere Therapeutics common stock. This post-transaction holding figure reflects the combination of PSU exercises into common shares and the subsequent sales executed under the disclosed Rule 10b5-1 trading plan.

Were the Travere Therapeutics (TVTX) CFO’s stock sales discretionary or pre-planned?

The filing states the sales were made under a written plan adopted May 28, 2025 that meets Rule 10b5-1(c) requirements. It also explains that shares were sold to cover tax withholding from PSU vesting, indicating these trades were pre-planned and primarily driven by tax obligations.