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# Supernus CEO Khattar's 2.2 Million Shares Swapped For Indivior Stock In Merger
- URL: https://www.bullished.co/supernus-ceo-khattars-2-2-million-shares-swapped-for-indivior-stock-in-merger-c2be2d46/
- Published: 2026-11-04T21:45:58.000Z
- Updated: 2026-11-04T21:45:58.000Z
- Description: Jack Khattar's directly and trust-held shares were converted at 1.5401 Indivior shares apiece, with no cash beyond fractional shares.
- Author: Matteo Parrino
- Tags: Insider Trades, SUPN, Industry: Healthcare

[Supernus Pharmaceuticals](https://www.bullished.co/tag/supn/) CEO Jack A. Khattar has given up all his original company shares, according to a [Form 4](https://www.sec.gov/Archives/edgar/data/0001539937/000153993726000016/xslF345X06/wk-form4%5F1793828157.xml?ref=bullished.co), the report insiders file after trading. Monday's merger wiped out his 2,216,451 shares. They were exchanged for stock in the combined company, not sold on the market.

## A stock swap, not a sale

Of the total, 1,258,351 shares were held directly and 958,100 through the KBT Trust. Both lines show zero shares remaining, and the filing carries the code for a merger exchange.

Each old share became 1.5401 new ones. Khattar received no cash other than cash in place of a fractional share.

Indivior bought Supernus via a merger subsidiary under an August 1, 2026 deal. Supernus Pharmaceuticals survived as a wholly owned subsidiary, and Indivior changed its name to Supernus, Inc.

## Options and units roll over

His equity awards were assumed by the renamed company. He holds 2,556,520 options, 400,000 restricted stock units and 393,433 performance share units.

Converted awards multiply the old share count by 1.5401 and round down, while exercise prices are divided by that same ratio. Vesting is largely unchanged, but performance share units turned into time-vesting restricted stock units.

The filing says the 400,000 restricted stock units vest in four installments: 50% at the merger closing, 15% at the first anniversary, 15% at the second and 20% at the third.

## Shares near a 52-week low

Supernus shares closed Wednesday at $28.21\. As of Tuesday's close they were down about 43% this year and within 5% of the 52-week low of $27.97.

The filing's estimate puts the disposed shares at about $62.5 million at Wednesday's close.

The restricted stock units' remaining installments fall at the one-, two- and three-year anniversaries of the merger closing.

Learn

- [Code J: other acquisitions or dispositions (read the footnote) →](https://www.bullished.co/learn/form-4-transaction-codes-explained/#code-j-other-acquisitions-or-dispositions-read-the-footnote)  
From Form 4 Transaction Codes Explained: What P, S, M, F, G, J, D And A Mean
- [How To Read A Form 4 SEC Filing, Box By Box →](https://www.bullished.co/learn/how-to-read-form-4-sec-filing/)  
Learn how to read a Form 4 SEC filing: who filed, Table I and II, transaction codes, price, shares owned after, footnotes, and real examples of each case.

### Sources

- [Form 4 — Jack A. Khattar (SUPN)](https://www.sec.gov/Archives/edgar/data/0001539937/000153993726000016/xslF345X06/wk-form4%5F1793828157.xml?ref=bullished.co) — SEC EDGAR

### More on Supernus Pharmaceuticals

- [Supernus Pulls Its Old Stock From Nasdaq As Indivior Merger Closes, New SUPN Shares Start Tuesday](https://www.bullished.co/supernus-pulls-its-old-stock-from-nasdaq-as-indivior-merger-closes-new-supn-shares-start-ed25cd29/)
- [Indivior Holders Get 56.5% Of Combined Supernus After Merger Closes, Plus A $1.0 Billion Dividend](https://www.bullished.co/indivior-holders-get-56-5-of-combined-supernus-after-merger-closes-plus-a-1-0-billion-d46211b5/)
- [Supernus CEO Calls 400 Onapgo Forms A Quarter A Good Run Rate — 'Stay Tuned' For More](https://www.bullished.co/supernus-ceo-calls-400-onapgo-forms-a-quarter-a-good-run-rate-stay-tuned-for-more-fdaa54e2/)

[All Supernus Pharmaceuticals (SUPN) coverage →](https://www.bullished.co/tag/supn/)