Form 4: Collegium Pharmaceutical EVP and General Counsel, Shirley R. Kuhlmann, Executes Stock Option and Sells Shares Under 10b5-1 Plan

Shirley R. Kuhlmann, EVP and General Counsel of Collegium Pharmaceutical, exercised stock options and sold shares of common stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On January 10, 2025, Shirley R. Kuhlmann, EVP and General Counsel of Collegium Pharmaceutical, exercised options to purchase 27,500 shares of common stock at a price of $21.34 per share.
• Simultaneously, Kuhlmann sold 21,400 shares at a weighted average price of $32.8695, with prices ranging from $33.43 to $33.87.
• An additional 6,100 shares were sold at a weighted average price of $33.6427, with prices ranging from $32.42 to $33.41.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on September 13, 2024.
• Following these transactions, Kuhlmann directly owns 119,184 shares of Collegium Pharmaceutical common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions under a pre-arranged trading plan, indicating no immediate cause for concern or excitement.

Positives

• The transactions were executed under a pre-arranged 10b5-1 trading plan, suggesting they were planned well in advance and not based on any recent inside information.

Future Outlook

There is no future outlook provided in this document.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• Executives at comparable pharmaceutical companies like Teva, Mylan (now Viatris), and Amgen routinely file Form 4s related to stock option exercises and sales.
• The use of 10b5-1 plans is a standard practice among executives to manage their stock holdings while avoiding insider trading concerns, similar to practices seen at companies like Pfizer and Johnson & Johnson.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold.

Key Dates