Form 4: Royalty Pharma CFO Sells Shares Under 10b5-1 Plan

Royalty Pharma plc's EVP & CFO, Terrance P. Coyne, sold 69,594 Class A Ordinary Shares for approximately $39.30 per share under a pre-arranged 10b5-1 plan.

Summary

• Terrance P. Coyne, Executive Vice President and Chief Financial Officer of Royalty Pharma plc, reported the sale of Class A Ordinary Shares.
• A total of 69,594 Class A Ordinary Shares were sold on November 17, 2025.
• The shares were sold at a weighted average price of approximately $39.30 per share, with individual transactions ranging from $38.97 to $39.50 per share.
• The total value of the shares sold is approximately $2,734,900.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Coyne on August 8, 2025.
• Following these transactions, Mr. Coyne beneficially owns 829,306 Class A Ordinary Shares directly and indirectly through various entities and family accounts.
• Additionally, Mr. Coyne holds limited partnership interests in RPI US Partners 2019, LP exchangeable into 6,448,180 Class A Ordinary Shares.
• Mr. Coyne also holds 1,807,277 Class E Ordinary Shares of Royalty Pharma Holdings Ltd, certain of which are subject to vesting conditions and may be converted into an equivalent number of Class A Ordinary Shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While an executive selling shares can sometimes be viewed negatively, the fact that these transactions were conducted under a pre-arranged 10b5-1 plan mitigates concerns, indicating planned financial management rather than a reactive sale based on new, non-public information.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned disposition rather than a reaction to new, non-public information, which can mitigate concerns about insider selling.

Negatives

• An executive selling shares, even under a 10b5-1 plan, can sometimes be perceived as a lack of confidence by some investors, though this is largely mitigated by the pre-planned nature.

Future Outlook

NA

Industry Context

NA

Corporate Governance

Related Party Transactions

• Indirect beneficial ownership of 724,156 Class A Ordinary Shares through TPC RP 2021, LLC.
• Indirect beneficial ownership of 54,760 Class A Ordinary Shares through TPC RP EPA1 LLC.
• Indirect beneficial ownership of 24,170 Class A Ordinary Shares through Spouse's IRA.
• Indirect beneficial ownership of 1,450 Class A Ordinary Shares through Spouse.

Stakeholder Impact

• Shareholders: May observe executive share sales, but the context of a 10b5-1 plan generally reduces negative sentiment, as it indicates a pre-planned personal financial decision rather than a signal about the company's immediate prospects.

Key Dates

Keywords

Royalty Pharma, RPRX, Insider Transaction, Form 4, Share Sale, Executive Compensation, 10b5-1 Plan