Form 4: Trevi Therapeutics Director Sells Shares
Insider Transaction (Form 4)
Michael Thomas Heffernan, a Director of Trevi Therapeutics, Inc., sold 39,473 shares of common stock on September 15, 2026.
Summary
- Option exercise/conversion: acquired 18,421 Common Stock at $3.04 ($56,000) on September 15, 2026; holds 24,772 after (Direct).
- Open-market sale: disposed of 18,321 Common Stock at $15.09 ($276,464) on September 15, 2026; holds 6,451 after (Direct).
- Open-market sale: disposed of 100 Common Stock at $15.88 ($1,588) on September 15, 2026; holds 6,351 after (Direct).
- Option exercise/conversion: acquired 21,052 Common Stock at $3.33 ($70,103) on September 15, 2026; holds 27,403 after (Direct).
- Open-market sale: disposed of 20,952 Common Stock at $15.09 ($316,166) on September 15, 2026; holds 6,451 after (Direct).
- Open-market sale: disposed of 100 Common Stock at $15.88 ($1,588) on September 15, 2026; holds 6,351 after (Direct).
- Option exercise/conversion: disposed of 18,421 Stock Option (right to buy) on September 15, 2026 (Direct).
- Option exercise/conversion: disposed of 21,052 Stock Option (right to buy) on September 15, 2026 (Direct).
Sentiment
Score: 4
Explanation: StockSavvy.ai views this as a mildly negative but low-conviction signal: an insider sold $595,806 of stock under a pre-arranged Rule 10b5-1 plan, which is typically routine.
Insider Transactions
Michael Thomas Heffernan — Director
Transaction made under a Rule 10b5-1 trading plan.
| Date | Transaction | Security | Shares | Price | Value | Held After |
|---|---|---|---|---|---|---|
| 2026-09-15 | Option exercise/conversion | Common Stock | 18,421 | $3 | $56.0K | 24,772 |
| 2026-09-15 | Open-market sale | Common Stock | 18,321 | $15 | $276.5K | 6,451 |
| 2026-09-15 | Open-market sale | Common Stock | 100 | $16 | $1.6K | 6,351 |
| 2026-09-15 | Option exercise/conversion | Common Stock | 21,052 | $3 | $70.1K | 27,403 |
| 2026-09-15 | Open-market sale | Common Stock | 20,952 | $15 | $316.2K | 6,451 |
| 2026-09-15 | Open-market sale | Common Stock | 100 | $16 | $1.6K | 6,351 |
| 2026-09-15 | Option exercise/conversion | Stock Option (right to buy) | 18,421 | — | — | 0 |
| 2026-09-15 | Option exercise/conversion | Stock Option (right to buy) | 21,052 | — | — | 0 |
Key Dates
| Date | Description |
|---|---|
| 2026-09-15 | Option exercise/conversion (18,421 shares) |
| 2026-09-15 | Open-market sale (18,321 shares) |
| 2026-09-15 | Open-market sale (100 shares) |
| 2026-09-15 | Option exercise/conversion (21,052 shares) |
| 2026-09-15 | Open-market sale (20,952 shares) |
| 2026-09-15 | Open-market sale (100 shares) |
| 2026-09-15 | Option exercise/conversion (18,421 shares) |
| 2026-09-15 | Option exercise/conversion (21,052 shares) |
Keywords
insider transaction, Form 4, TRVI, Trevi Therapeutics, Inc., bearish, Michael Thomas Heffernan
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