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

Royalty Pharma's EVP & CFO, Terrance P. Coyne, sold 69,582 Class A Ordinary Shares for approximately $38.36 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.
• The transactions occurred on December 15, 2025, and were executed pursuant to a Rule 10b5-1 plan adopted on August 8, 2025.
• A total of 69,582 Class A Ordinary Shares were sold in multiple transactions at prices ranging from $38.10 to $38.48 per share, with a weighted average price of $38.3601 per share.
• The total value of the shares sold is approximately $2,669,000.00.
• Following these transactions, Mr. Coyne directly owns 1,500 Class A Ordinary Shares.
• Indirect beneficial ownership includes 526,660 Class A Ordinary Shares through TPC RP 2021, LLC, 43,510 Class A Ordinary Shares through TPC RP EPA1 LLC, 24,170 Class A Ordinary Shares through a Spouse's IRA, 23,270 Class A Ordinary Shares through an IRA, and 1,450 Class A Ordinary Shares through a Spouse.
• 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.
• They also hold Class E Ordinary Shares of Royalty Pharma Holdings Ltd (RPH) exchangeable into 1,807,277 Class A Ordinary Shares, which are subject to vesting conditions.

Sentiment

Score: 5

Explanation: The filing reports a routine insider share sale executed under a pre-arranged 10b5-1 plan, which is a neutral event for company fundamentals and does not indicate a change in management's outlook or company performance.

Future Outlook

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

Industry Context

This is a routine insider transaction report for an executive at a publicly traded pharmaceutical royalty company. Such filings are common and provide transparency into executive stock ownership and trading activities, which are often pre-scheduled under 10b5-1 plans to avoid accusations of trading on material non-public information.

Related Party Transactions

• Indirect beneficial ownership includes shares held through TPC RP 2021, LLC and TPC RP EPA1 LLC, which are controlled by the reporting person, Terrance P. Coyne.
• Additional holdings include limited partnership interests in RPI US Partners 2019, LP and Class E Ordinary Shares of Royalty Pharma Holdings Ltd, which are exchangeable into Class A Ordinary Shares and held by the Reporting Person and family vehicles controlled by the Reporting Person.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a pre-planned, routine insider sale. It does not signal a change in company fundamentals or management's confidence beyond what was known when the 10b5-1 plan was adopted.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider trading disclosure.

Key Dates

Recommendation

The reported sale by Royalty Pharma's EVP & CFO, Terrance P. Coyne, was executed under a pre-arranged 10b5-1 plan. Such transactions are routine and do not typically reflect new information about the company's performance or future prospects. Therefore, this filing alone does not provide a basis for changing an investment recommendation, and a 'hold' stance is appropriate as it does not alter the fundamental investment thesis.

Keywords

Royalty Pharma, RPRX, Insider Trading, Form 4, Share Sale, Executive Compensation, Terrance P. Coyne, 10b5-1 Plan