WILLIAM E. ROTE - 13 Aug 2021 Form 4 Insider Report for Travere Therapeutics, Inc. (TVTX)

Signature
/s/ Elizabeth E. Reed, Attorney-in-Fact
Issuer symbol
TVTX
Transactions as of
13 Aug 2021
Net transactions value
-$24,085
Form type
4
Filing time
17 Aug 2021, 19:38:13 UTC
Previous filing
13 May 2021
Next filing
12 Jan 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TVTX Common Stock Award $0 +4,500 +14% $0.000000 37,138 13 Aug 2021 Direct F1, F2
transaction TVTX Common Stock Sale $24,085 -1,407 -3.8% $17.12 35,731 17 Aug 2021 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 31, 2020, the reporting person was granted a performance restricted stock unit (PRSU) grant covering 9,000 shares of the Issuer's common stock, which vest upon the later of (i) 12 months from the date of grant and (ii) the achievement of specified clinical and regulatory development milestones. On August 13, 2021, a portion of the PRSUs vested upon the Issuer's confirmation of the satisfaction of a performance criterion related to the interim data read-out from the PROTECT study.
F2 Includes 931 shares of the Issuer's common stock acquired by the reporting person on May 31, 2021 pursuant to an employee stock purchase program.
F3 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.