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

Royalty Pharma's EVP of Research & Investments, Marshall Urist, sold 20,000 Class A Ordinary Shares for approximately $40.26 per share under a pre-arranged 10b5-1 plan.

Summary

• Marshall Urist, Executive Vice President of Research & Investments at Royalty Pharma plc, reported a sale of Class A Ordinary Shares.
• The transaction involved the disposition of 20,000 Class A Ordinary Shares on January 23, 2026.
• The shares were sold at a weighted average price of $40.2555 per share, with individual transaction prices ranging from $40.00 to $40.56.
• The sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Urist on September 16, 2025.
• Following the reported transaction, Mr. Urist directly owns 7,398 Class A Ordinary Shares.
• Indirect beneficial ownership includes 20,000 Class A Ordinary Shares held by Sandy Lamm LLC and 19,020 Class A Ordinary Shares held by an IRA.
• Additionally, Mr. Urist and family vehicles control limited partnership interests exchangeable into 2,474,120 Class A Ordinary Shares from RPI US Partners 2019, LP.
• They also hold Class E Ordinary Shares of Royalty Pharma Holdings Ltd (RPH) exchangeable into 1,356,528 Class A Ordinary Shares, which are subject to vesting conditions.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it's an insider sale, the fact that it was conducted under a pre-arranged 10b5-1 plan mitigates any negative perception of a lack of confidence, indicating personal financial planning rather than a reaction to new, adverse company information.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived by the market as a lack of confidence, though this is mitigated by the pre-planned nature.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This insider transaction is a routine disclosure for a publicly traded company and does not inherently reflect broader industry trends or competitive dynamics. It is specific to the individual's personal financial planning.

Stakeholder Impact

• Shareholders: May observe the transaction as part of routine insider activity. The pre-planned nature under a 10b5-1 plan generally reduces concerns about management's confidence in the company's future.

Key Dates

Recommendation

This Form 4 filing details a pre-scheduled insider stock sale under a 10b5-1 plan, which is a routine personal financial management event for executives. It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on the company's fundamentals rather than this specific insider transaction.

Keywords

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