Form 4: Royalty Pharma EVP Sells 20,000 Shares Under 10b5-1 Plan

Royalty Pharma plc's EVP of Research & Investments, Marshall Urist, sold 20,000 Class A Ordinary Shares for approximately $39.52 per share as part of a pre-arranged trading plan.

Summary

• Marshall Urist, Executive Vice President of Research & Investments at Royalty Pharma plc, reported the sale of 20,000 Class A Ordinary Shares.
• The transaction occurred on January 16, 2026, at a weighted average price of $39.5173 per share, with individual sales ranging from $39.37 to $39.76.
• This sale was executed pursuant to a Rule 10b5-1 trading plan that Mr. Urist adopted on September 16, 2025.
• Following this transaction, Mr. Urist beneficially owns 66,418 Class A Ordinary Shares, comprising 7,398 directly and 59,020 indirectly through Sandy Lamm LLC and an IRA.
• Additionally, Mr. Urist and family vehicles control limited partnership interests exchangeable into 2,474,120 Class A Ordinary Shares and Class E Ordinary Shares of Royalty Pharma Holdings Ltd exchangeable into 1,356,528 Class A Ordinary Shares, subject to vesting conditions.

Sentiment

Score: 5

Explanation: The filing reports a routine insider sale under a pre-arranged 10b5-1 plan, which is generally considered neutral as it does not reflect new discretionary trading decisions based on recent material non-public information. The officer retains significant beneficial ownership.

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine, pre-scheduled insider sale and the officer retains substantial holdings, including exchangeable interests.

Key Dates

Recommendation

The reported sale by an executive is a routine transaction executed under a pre-arranged 10b5-1 trading plan, which typically does not signal a change in the company's fundamental outlook or the executive's confidence. The executive retains significant beneficial ownership, including substantial exchangeable interests. Therefore, this filing alone does not warrant a change in investment recommendation; a 'hold' stance is maintained pending further material developments.

Keywords

Royalty Pharma, RPRX, Insider Trading, Form 4, Stock Sale, Marshall Urist, 10b5-1 Plan, Executive Compensation, Pharmaceuticals, Biotech