Director Bethany Sensenig filed a Form 4 with the SEC on November 4, 2026, disclosing the automatic conversion of her Supernus Pharmaceuticals equity awards into Supernus, Inc. equity awards following the completion of a merger on November 2, 2026.

Key Highlights

  • Merger effective date: The transaction between Indivior Pharmaceuticals, Inc., Artemis Merger Sub Inc., and Supernus Pharmaceuticals, Inc. closed on November 2, 2026, per the filing.
  • Exchange ratio: Each existing Supernus Pharmaceuticals equity award was converted using a 1.5401 exchange ratio, with exercise prices divided by the same ratio and rounded up to the nearest whole cent.
  • Restricted stock units: 4,603 RSUs, acquired via transaction code J at $0.00 price, are scheduled to vest and settle in common stock on February 18, 2027.
  • Director stock options: Four tranches of director stock options were converted, totaling 68,807 shares underlying options with exercise prices of $19.63, $18.15, $21.77, and $32.60.
  • All positions held directly: Sensenig's beneficial ownership in all converted awards is reported as direct (D) in the filing.
  • PSU conversion: According to the filing, "performance stock unit awards were converted into time-vesting restricted stock units."

Bethany Sensenig's Equity Awards Converted in Supernus Merger Closing

According to the Form 4 filed on November 4, 2026, Bethany Sensenig, a director of Supernus, Inc. (NASDAQ:SUPN), reported changes in her beneficial ownership resulting from the closing of a merger on November 2, 2026. The filing describes an Agreement and Plan of Merger dated August 1, 2026, among Indivior Pharmaceuticals, Inc., Artemis Merger Sub Inc., and Supernus Pharmaceuticals, Inc. At the effective time of the merger, Indivior was renamed Supernus, Inc., and all outstanding Supernus Pharmaceuticals equity awards were assumed and automatically converted.

The conversion applied the 1.5401 exchange ratio to determine the number of replacement shares, rounding down, while per-share exercise prices were divided by that ratio and rounded up to the nearest whole cent. The filing reports that each converted award is "subject to substantially the same terms and conditions, including vesting, that applied immediately prior to the effective time," with the exception that performance stock unit awards became time-vesting restricted stock units. All transactions are coded J, indicating a form of acquisition not involving an open-market purchase or sale.

Sensenig's converted holdings consist of 4,603 restricted stock units vesting February 18, 2027, and four director stock option tranches: 37,198 shares at $19.63 (expiring August 17, 2033), 12,708 shares at $18.15 (expiring February 22, 2034), 11,236 shares at $21.77 (expiring February 19, 2035), and 7,665 shares at $32.60 (expiring February 18, 2036). The price of each derivative security is listed as $0.00. The filing was signed by Timothy C. Dec as attorney-in-fact on November 4, 2026.

What Was Disclosed

Bethany Sensenig's Form 4 disclosed the automatic conversion of her Supernus Pharmaceuticals equity awards - comprising RSUs and four stock option tranches - into equivalent Supernus, Inc. awards at the closing of the merger on November 2, 2026, using a 1.5401 exchange ratio.