Director at Travere (NASDAQ: TVTX) sells 4,500 pre-planned shares

Rhea-AI Filing Summary

Travere Therapeutics director Roy D. Baynes exercised stock options and sold the resulting shares in a pre-planned transaction. On May 5, he exercised options for 4,500 shares of common stock at $18.27 per share and sold 4,500 shares at $46.65 per share in an open-market sale. The sale was made under a written Rule 10b5-1(c) trading plan adopted on November 17, 2025 and involved fully vested, exercisable options. After these transactions, Baynes directly owns 37,500 shares of Travere Therapeutics common stock, with no remaining position from the exercised options.

Insider Trade Summary 10b5-1

Net Seller: 4,500 shares ($209,925)

Net Sell 3 txns

Insider Baynes Roy D.

Role null

Sold 4,500 shs ($210K)

Type	Security	Shares	Price	Value
Exercise	Stock option (right to buy)	4,500	$0.00	--
Exercise	Common Stock	4,500	$18.27	$82K
Sale	Common Stock	4,500	$46.65	$210K

Holdings After Transaction: Stock option (right to buy) — 0 shares (Direct, null); Common Stock — 42,000 shares (Direct, null)

Footnotes (1)

1. This sale was made pursuant to a written plan adopted on November 17, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and consists of the sale of shares underlying stock options granted to the Reporting Person. The stock option is fully vested and exercisable.

Key Figures

Shares sold: 4,500 shares Sale price: $46.65 per share Options exercised: 4,500 shares +3 more

6 metrics

Shares sold 4,500 shares Open-market sale of common stock on May 5, 2026 at $46.65

Sale price $46.65 per share Price for 4,500 common shares sold on May 5, 2026

Options exercised 4,500 shares Stock options converted into common stock on May 5, 2026

Exercise price $18.27 per share Exercise price of stock option covering 4,500 shares

Shares owned after 37,500 shares Direct Travere Therapeutics common stock holdings after transactions

Option expiration May 14, 2031 Expiration date originally stated for the exercised stock option

Key Terms

Rule 10b5-1(c), stock option, open-market sale

3 terms

Rule 10b5-1(c) regulatory

"written plan adopted on November 17, 2025, meeting the requirements of Rule 10b5-1(c)"

Rule 10b5-1(c) is an SEC guideline that lets company insiders set up a written, pre-planned schedule to buy or sell their company stock when they are not in possession of material, nonpublic information. For investors, it matters because such plans can reduce the appearance of insider trading by separating decisions from inside knowledge—like putting your trades on autopilot—while also requiring scrutiny since pre-planned trades can still affect market confidence and share value.

stock option financial

"consists of the sale of shares underlying stock options granted to the Reporting Person"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

open-market sale financial

"transaction_action is described as an open-market sale of common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Baynes Roy D.

(Last) (First) (Middle)

C/O TRAVERE THERAPEUTICS, INC.

3611 VALLEY CENTRE DR., SUITE 300

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Travere Therapeutics, Inc. [ TVTX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/05/2026		M		4,500	A	$18.27	42,000	D
Common Stock	05/05/2026		S(1)		4,500	D	$46.65	37,500	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock option (right to buy)	$18.27	05/05/2026		M			4,500	(2)	05/14/2031	Common Stock	4,500	$0	0	D

Explanation of Responses:

1. This sale was made pursuant to a written plan adopted on November 17, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and consists of the sale of shares underlying stock options granted to the Reporting Person.

2. The stock option is fully vested and exercisable.

	/s/ Elizabeth E. Reed, Attorney-in-Fact	05/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Travere Therapeutics (TVTX) director Roy D. Baynes report in this Form 4?

Roy D. Baynes reported exercising stock options for 4,500 Travere Therapeutics shares and selling 4,500 common shares. The transactions occurred on May 5 as an open-market sale tied to fully vested options, and he remains a direct shareholder after the trades.

How many Travere Therapeutics (TVTX) shares did Roy D. Baynes sell and at what price?

He sold 4,500 shares of Travere Therapeutics common stock at $46.65 per share in an open-market sale. These shares came from previously granted options that he exercised the same day, turning an option position into common stock before selling.

At what price did Roy D. Baynes exercise his Travere Therapeutics (TVTX) stock options?

Baynes exercised stock options covering 4,500 Travere Therapeutics shares at an exercise price of $18.27 per share. The options were fully vested and exercisable, meaning he had already earned them before converting them into common shares.

Was the Travere Therapeutics (TVTX) share sale by Roy D. Baynes under a Rule 10b5-1 plan?

Yes. The filing states the sale was made under a written plan adopted on November 17, 2025, that meets Rule 10b5-1(c) requirements. Such pre-arranged plans schedule trades in advance, making the timing more routine and less discretionary.

How many Travere Therapeutics (TVTX) shares does Roy D. Baynes hold after these transactions?

Following the option exercise and related sale, Baynes directly owns 37,500 shares of Travere Therapeutics common stock. The Form 4 also indicates the exercised stock option position was fully used, leaving no remaining derivative shares from that grant.

What happened to Roy D. Baynes’ Travere Therapeutics (TVTX) stock options in this filing?

He exercised a stock option for 4,500 underlying Travere Therapeutics shares, which was fully vested and exercisable. After exercising and selling the resulting common shares, the filing shows that stock option holding at zero, indicating the entire option grant was used.