Travere director exercises options, sells 32,750 shares
Travere Therapeutics director Roy D. Baynes exercised stock options and sold shares in a planned transaction.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Travere Therapeutics director Roy D. Baynes exercised stock options and sold shares in a planned transaction. He exercised options covering 32,750 shares of common stock at exercise prices between $15.43 and $21.38 per share, then sold 32,750 shares in open-market trades at $41.07 and $42.12 per share under a Rule 10b5-1 trading plan adopted on November 17, 2025. After these transactions, he directly owned 37,500 shares of Travere Therapeutics common stock.
Insider Trade Summary 10b5-1
Exercise and Sale: 32,750 shares ($776K approx. pre-tax spread)
Exercise and Sale
12 txns
Insider
Baynes Roy D.
Role
Director
Sold
32,750 shs ($1.35M)
Approx. gross sale proceeds
$1.35M
Approx. exercise cost
$576K
Approx. pre-tax spread
$776K
Share of Position Sold
46.6%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) | 8,000 | $0.00 | $0.00 |
| Exercise | Stock option (right to buy) | 9,000 | $0.00 | $0.00 |
| Exercise | Stock option (right to buy) | 4,500 | $0.00 | $0.00 |
| Exercise | Stock option (right to buy) | 4,500 | $0.00 | $0.00 |
| Exercise | Stock option (right to buy) | 6,750 | $0.00 | $0.00 |
| Exercise | Common Stock | 8,000 | $17.94 | $144K |
| Exercise | Common Stock | 9,000 | $15.43 | $139K |
| Exercise | Common Stock | 4,500 | $18.27 | $82K |
| Exercise | Common Stock | 4,500 | $21.38 | $96K |
| Exercise | Common Stock | 6,750 | $17.11 | $115K |
| Sale | Common Stock | 26,000 | $41.07 | $1.07M |
| Sale | Common Stock | 6,750 | $42.12 | $284K |
Holdings After Transaction:
Stock option (right to buy) — 15,750 options (Direct);
Common Stock — 37,500 shares (Direct)
Holdings Before and After:
Stock option (right to buy), 48,500 to 15,750 options (Direct);
Common Stock, 37,500 to 37,500 shares (Direct)
Other Insiders: 7 other insiders reported open-market sales of this stock in the 30 days up to this filing.
Footnotes (2)
- F1. This sale was made pursuant to a written plan adopted on November 17, 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 stock options granted to the Reporting Person.
- F2. The stock option is fully vested and exercisable.
Key Figures
Options exercised: 32,750 shares
Shares sold: 32,750 shares
Sale price 1: $41.07 per share
+4 more
7 metrics
Options exercised
32,750 shares
Stock option exercises on April 14, 2026
Shares sold
32,750 shares
Open-market sales on April 14, 2026
Sale price 1
$41.07 per share
26,000-share sale of common stock
Sale price 2
$42.12 per share
6,750-share sale of common stock
Post-transaction holdings
37,500 shares
Common stock directly owned after transactions
Option strike prices
$15.43–$21.38 per share
Exercise prices of options converted to common stock
10b5-1 plan adoption date
November 17, 2025
Date written trading plan meeting Rule 10b5-1(c) was adopted
Key Terms
Rule 10b5-1(c), stock option (right to buy), derivative security, open-market sale, +1 more
5 terms
Rule 10b5-1(c) regulatory
"written plan adopted on November 17, 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.
stock option (right to buy) financial
"security_title": "Stock option (right to buy)""
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Travere Therapeutics (TVTX) director Roy D. Baynes do in this Form 4 filing?
Roy D. Baynes exercised stock options and sold common shares of Travere Therapeutics. He exercised options for 32,750 shares, then sold 32,750 shares in open-market trades, leaving him with 37,500 shares directly owned after the transactions.
How many Travere Therapeutics (TVTX) options did Roy D. Baynes exercise and at what strike prices?
He exercised stock options covering 32,750 Travere Therapeutics shares. The options had exercise prices of $17.94, $15.43, $18.27, $21.38, and $17.11 per share, converting these derivative awards into common stock before the reported share sales.
AI-generated analysis. How Rhea-AI works. Not financial advice.
