Travere executive sells 283K shares after option exercise
Travere Therapeutics, Inc. (TVTX) reported that EVP and Chief Commercial Officer Peter Heerma exercised employee stock options and sold shares of common stock over September 15–17, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Travere Therapeutics, Inc. (TVTX) reported that EVP and Chief Commercial Officer Peter Heerma exercised employee stock options and sold shares of common stock over September 15–17, 2026. He exercised 258,189 options at strike prices between $8.93 and $26.88 per share and sold 283,189 shares of common stock in market transactions pursuant to a Rule 10b5-1(c) trading plan adopted on June 16, 2026.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
21 txns
Insider
Heerma Peter
Role
EVP, CHIEF COMMERCIAL OFFICER
Sold
283,189 shs ($17.86M)
Approx. gross sale proceeds
$17.86M
Approx. exercise cost
$4.05M
Share of Position Sold
70.8%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee stock option (right to buy) F11 | 8,282 | $0.00 | $0.00 |
| Exercise | Common Stock | 8,282 | $22.40 | $186K |
| Sale | Common Stock F2, F9 | 8,282 | $65.0709 | $539K |
| Exercise | Employee stock option (right to buy) F10 | 100,000 | $0.00 | $0.00 |
| Exercise | Employee stock option (right to buy) F10 | 55,000 | $0.00 | $0.00 |
| Exercise | Employee stock option (right to buy) F10 | 17,717 | $0.00 | $0.00 |
| Exercise | Common Stock | 100,000 | $11.25 | $1.13M |
| Exercise | Common Stock | 55,000 | $15.46 | $850K |
| Exercise | Common Stock | 17,717 | $26.88 | $476K |
| Sale | Common Stock F2, F7 | 93,604 | $63.2471 | $5.92M |
| Sale | Common Stock F2, F8 | 79,113 | $63.6546 | $5.04M |
| Exercise | Employee stock option (right to buy) F10 | 39,283 | $0.00 | $0.00 |
| Exercise | Employee stock option (right to buy) F11 | 1,381 | $0.00 | $0.00 |
| Exercise | Employee stock option (right to buy) F12 | 36,526 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 39,283 | $26.88 | $1.06M |
| Exercise | Common Stock | 1,381 | $22.40 | $31K |
| Exercise | Common Stock | 36,526 | $8.93 | $326K |
| Sale | Common Stock F2, F3 | 71,938 | $62.0517 | $4.46M |
| Sale | Common Stock F2, F4 | 27,421 | $62.5936 | $1.72M |
| Sale | Common Stock F2, F5 | 1,400 | $63.6521 | $89K |
| Sale | Common Stock F2, F6 | 1,431 | $65.3093 | $93K |
Holdings After Transaction:
Employee stock option (right to buy) — 73,811 contracts (Direct);
Common Stock — 117,066 shares (Direct)
Holdings Before and After:
Employee stock option (right to buy), 332,000 to 73,811 contracts (Direct);
Common Stock, 142,066 to 117,066 shares (Direct)
Other Insiders: 8 other insiders reported open-market sales of this stock in the 30 days up to this filing.
Footnotes (12)
- F1. Includes 1,382 shares acquired under the Issuer's 2017 Employee Stock Purchase Plan on May 29, 2026.
- F2. This sale was made pursuant to a written plan adopted on June 16, 2026, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended.
- F3. The weighted average sale price for the transaction reported was $62.0517, and the range of prices were between $61.43 and $62.42. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F4. The weighted average sale price for the transaction reported was $62.5936, and the range of prices were between $62.43 and $63.27. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F5. The weighted average sale price for the transaction reported was $63.6521, and the range of prices were between $63.56 and $63.75. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F6. The weighted average sale price for the transaction reported was $65.3093, and the range of prices were between $65.30 and $65.31. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F7. The weighted average sale price for the transaction reported was $63.2471, and the range of prices were between $62.50 and $63.49. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F8. The weighted average sale price for the transaction reported was $63.6546, and the range of prices were between $63.50 and $64.01. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F9. The weighted average sale price for the transaction reported was $65.0709, and the range of prices were between $65.00 and $65.14. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each price will be provided.
- F10. The stock option is fully vested and exercisable.
- F11. One-fourth of the shares subject to the stock option vest and become exercisable on the first anniversary of January 31, 2023, and the remaining shares vest in 36 equal monthly installments thereafter.
- F12. One-fourth of the shares subject to the stock option vest and become exercisable on the first anniversary of January 31, 2024, and the remaining shares vest in 36 equal monthly installments thereafter.
Key Figures
Shares sold: 283,189 shares
Options exercised: 258,189 shares
Exercise prices: $8.93, $11.25, $15.46, $22.40, $26.88 per share
+4 more
7 metrics
Shares sold
283,189 shares
Total common shares sold in open-market or private transactions between September 15–17, 2026
Options exercised
258,189 shares
Total underlying common shares from derivative exercises (code M) reported
Exercise prices
$8.93, $11.25, $15.46, $22.40, $26.88 per share
Strike prices of employee stock options exercised into common stock
Weighted average sale price example
$62.0517 per share
Weighted average for 71,938 shares sold on September 15, 2026, with prices from $61.43 to $62.42
Highest reported weighted average sale price
$65.3093 per share
Weighted average for 1,431 shares sold with prices between $65.30 and $65.31
Rule 10b5-1 plan adoption date
June 16, 2026
Date of written trading plan under which the reported sales were made
ESPP shares included
1,382 shares
Shares acquired under the 2017 Employee Stock Purchase Plan on May 29, 2026, included in a reported balance
Key Terms
Rule 10b5-1(c), weighted average sale price, Employee stock option (right to buy), 2017 Employee Stock Purchase Plan, +1 more
5 terms
Rule 10b5-1(c) regulatory
"written plan adopted on June 16, 2026, 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.
weighted average sale price financial
"The weighted average sale price for the transaction reported was $62.0517"
Employee stock option (right to buy) financial
"security title listed as Employee stock option (right to buy)"
2017 Employee Stock Purchase Plan financial
"Includes 1,382 shares acquired under the Issuer's 2017 Employee Stock Purchase Plan"
vest and become exercisable financial
"shares subject to the stock option vest and become exercisable on the first anniversary"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Travere Therapeutics (TVTX) executive Peter Heerma report in this Form 4?
He reported exercising 258,189 employee stock options and selling 283,189 shares of Travere Therapeutics common stock in market transactions between September 15 and 17, 2026, with all events disclosed as direct holdings.
Were Peter Heerma’s TVTX stock sales made under a Rule 10b5-1 plan?
Yes. A footnote states that the sales were made pursuant to a written plan adopted on June 16, 2026, meeting the requirements of Rule 10b5-1(c) under the Securities Exchange Act of 1934.
What stock options did Heerma exercise in Travere Therapeutics (TVTX)?
Heerma exercised options for 258,189 shares of TVTX common stock at strike prices of $8.93, $11.25, $15.46, $22.40, and $26.88 per share. Some options were fully vested; others vest based on time-based schedules described in the footnotes.
Does the Form 4 show Heerma’s remaining TVTX holdings after these transactions?
No. The Form 4 transactions list shares exercised and sold, but the post-transaction share balances fields are blank in the reported data, so this filing does not state his resulting ownership position.
AI-generated analysis. How Rhea-AI works. Not financial advice.
