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 $39.35 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 69,582 Class A Ordinary Shares were sold on January 20, 2026, in two separate direct transactions.
• The shares were sold at a weighted average price of $39.3484 per share, with prices ranging from $38.86 to $39.66.
• The transactions were executed pursuant to a Rule 10b5-1 plan adopted by Mr. Coyne on August 8, 2025.
• Following these transactions, Mr. Coyne beneficially owns 481,396 Class A Ordinary Shares directly and indirectly through various entities and family vehicles.
• Additionally, Mr. Coyne and family vehicles hold 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 transaction represents a pre-scheduled sale by an executive under a 10b5-1 plan, which typically mitigates the negative signal often associated with insider selling, as it is not a discretionary sale based on immediate non-public information. However, it still represents a reduction in direct executive ownership.

Positives

• The sale was executed under a Rule 10b5-1 plan, adopted on August 8, 2025, indicating a pre-scheduled transaction rather than a discretionary sale based on immediate non-public information.

Negatives

• An executive selling a significant number of shares (69,582 Class A Ordinary Shares) could be perceived negatively by some investors, even if pre-planned.

Risks

• No specific risks were detailed in this Form 4 filing beyond the general market perception of insider selling.

Future Outlook

This Form 4 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 specific to Royalty Pharma plc and does not provide broader industry context or trends.

Related Party Transactions

• Terrance P. Coyne holds indirect beneficial ownership through TPC RP 2021, LLC (394,996 shares), TPC RP EPA1 LLC (36,010 shares), a Spouse's IRA (24,170 shares), an IRA (23,270 shares), and by Spouse (1,450 shares).
• Additional holdings include limited partnership interests in RPI US Partners 2019, LP, and Class E Ordinary Shares of Royalty Pharma Holdings Ltd (RPH), held by the Reporting Person and family vehicles controlled by the Reporting Person.

Stakeholder Impact

• Shareholders may interpret the insider sale, even if pre-planned, as a signal regarding the executive's personal financial planning or view on the stock, potentially influencing market sentiment.

Key Dates

Recommendation

The sale of shares by an executive, even under a pre-arranged 10b5-1 plan, is a data point that warrants attention. While the pre-planned nature reduces the immediate negative implications of a discretionary sale, it still represents a reduction in direct executive ownership. Without additional information on the company's performance or strategic direction, this single transaction is not sufficient to warrant a change from a 'hold' recommendation, but it should be monitored as part of a broader investment analysis.

Keywords

Royalty Pharma, RPRX, insider trading, Form 4, stock sale, executive compensation, 10b5-1 plan, Terrance Coyne