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

Royalty Pharma plc's EVP & CFO, Terrance P. Coyne, sold 69,582 Class A Ordinary Shares for approximately $2.77 million under a pre-arranged 10b5-1 trading plan.

Summary

• Terrance P. Coyne, Executive Vice President and Chief Financial Officer of Royalty Pharma plc, reported the sale of 69,582 Class A Ordinary Shares.
• The transactions occurred on December 1, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on August 8, 2025.
• The shares were sold at a weighted average price of $39.866 per share, with individual transaction prices ranging from $39.64 to $40.06.
• The total value of the shares sold is approximately $2,774,000.
• Following these transactions, Mr. Coyne beneficially owns 690,142 Class A Ordinary Shares directly and indirectly.
• Additionally, Mr. Coyne and family vehicles control 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, some of which are subject to vesting and may convert into Class A Ordinary Shares.

Sentiment

Score: 5

Explanation: The sale of shares by an executive is a routine transaction under a pre-arranged 10b5-1 plan, indicating no immediate change in sentiment regarding the company's prospects. It is a neutral event in terms of company performance.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, demonstrating transparency and adherence to corporate governance best practices regarding insider transactions.

Negatives

• An executive's sale of shares, even if pre-planned, can sometimes be perceived by investors as a slight reduction in management's direct equity exposure, which may be viewed cautiously.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is an insider transaction report and does not provide information directly related to broader industry trends or competitive landscape.

Related Party Transactions

• Indirect beneficial ownership of Class A Ordinary Shares through TPC RP 2021, LLC.
• Indirect beneficial ownership of Class A Ordinary Shares through TPC RP EPA1 LLC.
• Indirect beneficial ownership of Class A Ordinary Shares through Spouse's IRA.
• Indirect beneficial ownership of Class A Ordinary Shares through Spouse.
• Limited partnership interests in RPI US Partners 2019, LP, exchangeable into Class A Ordinary Shares, held by the Reporting Person and family vehicles controlled by the Reporting Person.

Stakeholder Impact

• Shareholders may note the executive's sale of shares, but the pre-arranged 10b5-1 plan typically mitigates concerns about the transaction signaling a lack of confidence in the company's future.

Key Dates

Recommendation

The reported sale of Class A Ordinary Shares by the EVP & CFO was executed under a pre-arranged 10b5-1 trading plan adopted months prior to the transaction date. Such planned sales are often for personal financial management and do not typically signal a change in management's confidence in the company's future performance. Therefore, this transaction alone does not provide a basis for altering an existing investment thesis.

Keywords

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