Elizabeth E. Reed, the Chief Legal Officer and General Counsel of Travere Therapeutics, Inc. (NASDAQ:TVTX), recorded a pair of transactions on April 1, 2026, that altered her direct holdings in the company. Reed sold 10,000 shares of Travere common stock at $30.00 per share, generating $300,000 in proceeds. The companys stock was trading at $30.43 at the time of reporting and has risen 70% over the last year.
That same day Reed exercised employee stock options to acquire 10,000 additional shares of Travere common stock at an exercise price of $15.46 per share, for a total cash outlay of $154,600. The exercised options are part of a grant that carries an expiration date of January 31, 2030, according to a Form 4 filing with the Securities and Exchange Commission.
Following the sale and option exercise, Reeds direct ownership in Travere totals 105,211 shares. The share sale was executed under a pre-arranged 10b5-1 trading plan that she adopted on June 16, 2025, as disclosed in the filing.
Separately, Travere has received a scheduling update from the U.S. Food and Drug Administration on its supplemental New Drug Application for Filspari, the company's treatment for focal segmental glomerulosclerosis (FSGS). The FDA has extended its review period and set a new target action date of April 13, 2026, representing a three-month extension from the prior timeline.
The extension follows Traveres submission of additional information requested by the FDA intended to better characterize the clinical benefit of Filspari. The agency has designated Traveres responses as a Major Amendment to the sNDA, a classification that contributed to the extended review window.
Market reaction to the extension has been mixed, and the regulatory development has introduced some uncertainty for Travere. Stifel has maintained a Hold rating on the stock in light of the updated review schedule. Travere has stated that it is focused on addressing the FDA's inquiries to support the potential approval of Filspari for this rare kidney disorder, and investors are watching the new PDUFA date closely.
All transactional details above are reported as disclosed in the company's regulatory filing and related announcements. Where the public filings provide limited context, the factual record is presented here without additional inference.