20,000-share sale notice for Morgan Stanley Smith Barney (TVTX) via option exercise

Rhea-AI Filing Summary

Morgan Stanley Smith Barney LLC filed a Form 144 notice for the proposed sale of 20,000 shares of Common Stock related to a stock option exercise to occur on 05/04/2026 with cash proceeds. The filing lists multiple sales by Elizabeth Reed during the prior three months, including 37,500 and other dispositions with aggregate proceeds shown per line items.

Insights

Securities Compliance Counsel

Form 144 notice documents a planned resale under Rule 144 tied to option exercise.

The filing lists a 20,000-share sale dated 05/04/2026 described as a stock option exercise with cash proceeds. Multiple prior dispositions by Elizabeth Reed in the preceding three months are itemized with dates and gross proceeds.

These entries are procedural: they notify of resale eligibility and planned sale mechanics; cash‑flow treatment is shown as Cash. Subsequent Form 4/transaction reports or broker records will show actual settlement details.

Key Figures

Proposed shares to be sold: 20,000 shares Largest recent disposition shown: 37,500 shares Proceeds from 37,500 sale: $1,540,125.00 +1 more

4 metrics

Proposed shares to be sold 20,000 shares Securities To Be Sold; <date>05/04/2026</date>

Largest recent disposition shown 37,500 shares Sale by Elizabeth Reed on <date>04/14/2026</date>

Proceeds from 37,500 sale $1,540,125.00 Sale by Elizabeth Reed on <date>04/14/2026</date>

Example proceeds (04/15/2026) $283,823.34 Sale of 6,785 shares on <date>04/15/2026</date>

Key Terms

Form 144, stock option exercise, resale notice

3 terms

Form 144 regulatory

"Form 144 notice for the proposed sale of 20,000 shares"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

stock option exercise financial

"05/04/2026 | Stock Option Exercise | ISSUER"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

resale notice regulatory

"Securities To Be Sold entry describing intended resale"

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	20000	900000.00	92241550	05/04/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/04/2026	Stock Option Exercise	ISSUER			20000	05/04/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	04/15/2026	6785	283823.34
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	04/14/2026	37500	1540125.00
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	04/14/2026	7215	302516.29
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	04/01/2026	10000	300000.00
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	03/16/2026	10000	280861.00
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	02/17/2026	10000	278317.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does TVTX's Form 144 filing report?

It reports a proposed sale of 20,000 shares of Common Stock related to a stock option exercise dated 05/04/2026. The notice lists the sale method as cash.

Who is the selling party named in the Form 144 for TVTX?

The filing lists Elizabeth Reed as the reporting individual associated with recent dispositions and the intended sale. Multiple prior sales by her are itemized with dates and proceeds.

What recent sales by Elizabeth Reed are shown in the filing?

The filing lists several sales: 37,500 shares on 04/14/2026 and other dispositions on 04/15/2026, 04/14/2026, 04/01/2026, 03/16/2026, and 02/17/2026 with proceeds per line items.

Does the Form 144 confirm settlement or receipt of proceeds?

No. The Form 144 is a notice of an intended resale tied to an exercise. It shows planned sale method as Cash but does not confirm settlement or final proceeds receipt.

When is the intended sale in the Form 144 scheduled?

The filing specifies the intended sale date as 05/04/2026 for the 20,000 shares associated with the stock option exercise.