What is the vesting schedule for these inducement RSUs and how might it impact future earnings per share?

Vesting schedule

Travere’s filing does not spell out the exact timing, but inducement RSUs of this size are usually subject to a graded‑vesting schedule that spreads the award over 3‑4 years (e.g., 25 % each year) and may include performance milestones tied to revenue or profitability targets. Because the grants were made on August 10 2025, the first tranche would likely vest in the fourth quarter of 2025 with the remaining portions vesting in 2026 and 2027 under the same incremental pattern.

Impact on future EPS

When each vesting tranche converts to common shares, the outstanding share count rises, diluting earnings per share. Assuming Travere’s net income stays flat, a 45,100‑share increase will lower the headline EPS proportionally. If the company’s earnings grow faster than the dilution—e.g., from successful drug launches or higher‑margin contracts—the EPS impact could be muted or even positive. Conversely, modest earnings growth combined with the new share base will compress EPS, putting downward pressure on the stock price as analysts adjust their valuation multiples.

Trading implications

- Short‑term: Anticipate a modest‑sized, downward‑bias on the stock around the first vesting date (Q4 2025) as the market prices in the dilution effect.

- Mid‑term: If Travere can demonstrate earnings acceleration that outpaces the incremental share count, the stock may rebound and even break higher, rewarding the upside narrative.

- Action: Consider a partial‑position now with a stop‑loss set just below the current support level to protect against the near‑term dilution hit, and look to add on any pull‑back if earnings guidance improves in 2026‑2027.