Peter Heerma - 05 Sep 2024 Form 4 Insider Report for Travere Therapeutics, Inc. (TVTX)

Signature
/s/ Elizabeth E. Reed, Attorney-in-Fact
Issuer symbol
TVTX
Transactions as of
05 Sep 2024
Net transactions value
-$25,240
Form type
4
Filing time
09 Sep 2024, 21:20:08 UTC
Previous filing
02 Feb 2024
Next filing
23 Jan 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TVTX Common Stock Award $0 +6,750 +6.5% $0.000000 110,149 05 Sep 2024 Direct F1, F2
transaction TVTX Common Stock Sale $25,240 -2,191 -2% $11.52 107,958 09 Sep 2024 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, 2023, the reporting person was granted performance restricted stock units (PSUs) covering 6,750 shares of the Issuer's common stock, which vest upon the satisfaction of certain performance criteria. On September 5, 2024, the PSUs vested upon the Issuer's confirmation that the U.S. Food and Drug Administration (FDA) had granted full approval to FILSPARI (sparsentan) in IgA Nephropathy.
F2 Includes 3,896 shares of Common Stock that were acquired by the Reporting Person on May 31, 2024 pursuant to the Issuer's Employee Stock Purchase Plan.
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.