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.

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

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)

Footnotes (12)

1. F1. Includes 1,382 shares acquired under the Issuer's 2017 Employee Stock Purchase Plan on May 29, 2026.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
10. F10. The stock option is fully vested and exercisable.
11. 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.
12. 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.

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

Heerma sold 283,189 shares of common stock. Reported per-share sale prices include $62.0517, $62.5936, $63.6521, $65.3093, $63.2471, $63.6546, and $65.0709, each described as weighted average sale prices with stated intraday price ranges.

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.

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Available on EDGAR 09/17/2026 - 09:36 PM Accepted by SEC EDGAR 09/17/2026 - 09:35 PM Learn about SEC filing dates

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^*

Heerma Peter

(Last) (First) (Middle)

C/O TRAVERE THERAPEUTICS, INC.

3611 VALLEY CENTRE DRIVE, 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CHIEF COMMERCIAL OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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	09/15/2026		M		39,283	A	$26.88	181,349(1)	D
Common Stock	09/15/2026		M		1,381	A	$22.4	182,730	D
Common Stock	09/15/2026		M		36,526	A	$8.93	219,256	D
Common Stock	09/15/2026		S(2)		71,938	D	$62.0517(3)	147,318	D
Common Stock	09/15/2026		S(2)		27,421	D	$62.5936(4)	119,897	D
Common Stock	09/15/2026		S(2)		1,400	D	$63.6521(5)	118,497	D
Common Stock	09/15/2026		S(2)		1,431	D	$65.3093(6)	117,066	D
Common Stock	09/16/2026		M		100,000	A	$11.25	217,066	D
Common Stock	09/16/2026		M		55,000	A	$15.46	272,066	D
Common Stock	09/16/2026		M		17,717	A	$26.88	289,783	D
Common Stock	09/16/2026		S(2)		93,604	D	$63.2471(7)	196,179	D
Common Stock	09/16/2026		S(2)		79,113	D	$63.6546(8)	117,066	D
Common Stock	09/17/2026		M		8,282	A	$22.4	125,348	D
Common Stock	09/17/2026		S(2)		8,282	D	$65.0709(9)	117,066	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
Employee stock option (right to buy)	$26.88	09/15/2026		M			39,283	(10)	01/21/2031	Common Stock	39,283	$0	18,217	D
Employee stock option (right to buy)	$22.4	09/15/2026		M			1,381	(11)	01/31/2033	Common Stock	1,381	$0	53,119	D
Employee stock option (right to buy)	$8.93	09/15/2026		M			36,526	(12)	01/31/2034	Common Stock	36,526	$0	28,474	D
Employee stock option (right to buy)	$11.25	09/16/2026		M			100,000	(10)	10/01/2029	Common Stock	100,000	$0	0	D
Employee stock option (right to buy)	$15.46	09/16/2026		M			55,000	(10)	01/31/2030	Common Stock	55,000	$0	0	D
Employee stock option (right to buy)	$26.88	09/16/2026		M			17,717	(10)	01/21/2031	Common Stock	17,717	$0	500	D
Employee stock option (right to buy)	$22.4	09/17/2026		M			8,282	(11)	01/31/2033	Common Stock	8,282	$0	44,837	D

Explanation of Responses:

1. Includes 1,382 shares acquired under the Issuer's 2017 Employee Stock Purchase Plan on May 29, 2026.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. The stock option is fully vested and exercisable.

11. 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.

12. 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.

	/s/ Elizabeth E. Reed, Attorney-in-Fact	09/17/2026
	** 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)