Form 4: Travere Therapeutics Executive Sells Shares to Cover Tax Obligations

Peter Heerma, Chief Commercial Officer of Travere Therapeutics, sold 1,584 shares to cover tax obligations related to vested restricted stock units.

Summary

• Peter Heerma, the Chief Commercial Officer of Travere Therapeutics, sold 1,584 shares of common stock on January 22, 2025.
• The sale was executed at a price of $18.9408 per share.
• This transaction was not a discretionary trade but rather a 'sell to cover' transaction mandated by the company to meet tax withholding obligations related to vested restricted stock units.
• Following the transaction, Mr. Heerma directly owns 106,374 shares of Travere Therapeutics.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no significant positive or negative implications for the company's performance or outlook.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a standard practice across publicly traded companies.
• Many companies use 'sell to cover' mechanisms to manage tax liabilities associated with equity compensation.
• The number of shares sold and the price are specific to this individual and company, but the mechanism is widely used.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Travere Therapeutics, stock sale, insider trading, Form 4, equity compensation, tax withholding, Peter Heerma, TVTX