Form 4: Director Sells COLL Shares Under 10b5-1 Plan

Collegium Pharmaceutical Director Rita J. Balice-Gordon sold 3,650 shares of common stock for approximately $47.03 per share under a pre-arranged trading plan.

Summary

• Rita J. Balice-Gordon, a Director of Collegium Pharmaceutical, Inc. (COLL), sold 3,650 shares of the company's common stock.
• The transaction occurred on December 5, 2025, at a weighted average price of $47.0338 per share.
• The shares were sold in multiple transactions at prices ranging from $47.0301 to $47.0901, inclusive.
• Following this transaction, Ms. Balice-Gordon beneficially owns 52,629 shares of Collegium Pharmaceutical common stock.
• The sale was executed pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 5

Explanation: Neutral. A director's sale of shares, especially under a 10b5-1 plan, is a routine event and does not inherently signal positive or negative company performance. It's a reduction in insider ownership but pre-planned.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-scheduled sale not necessarily based on new material non-public information.

Negatives

• A director selling shares could be perceived negatively by some investors, as it reduces their direct stake in the company.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Sale of 3,650 shares of Collegium Pharmaceutical common stock by Director Rita J. Balice-Gordon.

Stakeholder Impact

• Shareholders: A slight reduction in insider ownership, which could be viewed neutrally or slightly negatively depending on interpretation, though mitigated by the 10b5-1 plan.

Key Dates

Recommendation

The filing reports a routine insider sale by a director under a pre-arranged 10b5-1 trading plan. This type of transaction is generally not indicative of new material information about the company's prospects and does not warrant a change in investment thesis based solely on this filing. Investors should continue to hold and monitor broader company performance and market conditions.

Keywords

Collegium Pharmaceutical, COLL, Form 4, Insider Sale, Director Transaction, Stock Sale, 10b5-1 Plan, Rita J. Balice-Gordon