<SEC-DOCUMENT>0000950170-25-037880.txt : 20250312
<SEC-HEADER>0000950170-25-037880.hdr.sgml : 20250312
<ACCEPTANCE-DATETIME>20250312160004
ACCESSION NUMBER:		0000950170-25-037880
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250310
FILED AS OF DATE:		20250312
DATE AS OF CHANGE:		20250312

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Simon Farrell
		CENTRAL INDEX KEY:			0001965585
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38886
		FILM NUMBER:		25731617

	MAIL ADDRESS:	
		STREET 1:		C/O TREVI THERAPEUTICS, INC.
		STREET 2:		195 CHURCH STREET, FLOOR 14
		CITY:			NEW HAVEN
		STATE:			CT
		ZIP:			06510

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Trevi Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001563880
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				450834299
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		195 CHURCH STREET
		STREET 2:		14TH FLOOR
		CITY:			NEW HAVEN
		STATE:			CT
		ZIP:			06510
		BUSINESS PHONE:		203-304-2499

	MAIL ADDRESS:	
		STREET 1:		195 CHURCH STREET
		STREET 2:		14TH FLOOR
		CITY:			NEW HAVEN
		STATE:			CT
		ZIP:			06510
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
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        <issuerName>Trevi Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>TRVI</issuerTradingSymbol>
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            <rptOwnerName>Simon Farrell</rptOwnerName>
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            <rptOwnerStreet2>195 CHURCH STREET, 16TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW HAVEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06510</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chief Commercial Officer</officerTitle>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.38</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-03-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>false</equitySwapInvolved>
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                    <value>38400</value>
                    <footnoteId id="F5"/>
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                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2025-03-10</value>
            </exerciseDate>
            <expirationDate>
                <value>2034-02-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>38400</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>38400</value>
                </sharesOwnedFollowingTransaction>
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            </conversionOrExercisePrice>
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                <value>2025-03-10</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
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                    <value>17500</value>
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                <transactionPricePerShare>
                    <value>0</value>
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            <expirationDate>
                <value>2031-02-16</value>
            </expirationDate>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
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    <footnotes>
        <footnote id="F1">This exercise of stock options was effected pursuant to a Rule 10b5-1 trading plan that was adopted on April 9, 2024.</footnote>
        <footnote id="F2">This sale was effected pursuant to a Rule 10b5-1 trading plan that was adopted on April 9, 2024.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.14 to $7.13 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.14 to $7.16 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.</footnote>
        <footnote id="F5">Reporting person was granted a performance-based stock option on February 15, 2024, to purchase 120,000 shares of common stock. The option vests based on the attainment of established performance criteria related to the timing and successful results of the Company's Phase 2b CORAL trial of Haduvio (nalbuphine ER) in patients with chronic cough in idiopathic pulmonary fibrosis, and Phase 2 RIVER trial of Haduvio in patients with refractory chronic cough. On March 10, 2025, the Compensation Committee of the Board of Directors of the Issuer certified that the performance metrics related to the successful results of the RIVER trial were satisfied, resulting in the vesting of the option as to 38,400 shares of common stock. The performance-based stock option remains eligible for vesting with respect to additional shares of common stock underlying the option in the event that performance metrics related to the successful results of the CORAL trial are satisfied.</footnote>
        <footnote id="F6">Reporting person was granted a performance-based stock option on February 17, 2021, to purchase 17,500 shares of common stock. The option vested based on the attainment of established performance criteria related to the timing and successful results of the Company's Phase 2b/3 PRISM trial of Haduvio for the treatment of prurigo nodularis, and Phase 2 CANAL trial of Haduvio for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis.</footnote>
        <footnote id="F7">This option was granted on September 22, 2020. The 75,000 shares of common stock underlying the option vested as to 25% of the shares on September 22, 2021 and vested as to the remaining 75% of the shares in equal monthly installments thereafter through September 22, 2024.</footnote>
        <footnote id="F8">This option was granted on February 11, 2022. The 75,000 shares of common stock underlying the option vested as to 25% of the shares on February 11, 2023 and vest as to the remaining 75% of the shares in equal monthly installments thereafter through February 11, 2026.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Christopher Galletta, attorney-in-fact</signatureName>
        <signatureDate>2025-03-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
