COLLEGIUM PHARMACEUTICAL, INC — Director's Dealing 2018

May 29, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COLLEGIUM PHARMACEUTICAL, INC (COLL)
CIK: 0001267565
Period of Report: 2018-05-24

Reporting Person: Hirsch David (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-24	Common Stock	A	2253	—	Acquired	27193	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-24	Stock Option (Right to Purchase)	$24.95	A	4506	Acquired	2028-05-24	Common Stock (4506)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15208	Indirect
Common Stock	758742	Indirect

Footnotes

F1: Reflects the grant of restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. The restricted stock units vest on May 24, 2019, subject to the director's continued service with the issuer. The restricted stock units will be settled on such date in shares of the issuer's common stock.

F2: Includes 24,940 shares received in distributions from Longitude Venture Partners, L.P. ("LVP") and Longitude Capital Associates, L.P. ("LCA").

F3: Reflects 30,412 shares distributed by LCA to its limited partners. In prior reports, the reporting person reported indirect beneficial ownership of 45,620 shares of common stock of the issuer held by LCA.

F4: Longitude Capital Partners, LLC ("LCP") is the general partner of LVP and LCA. The reporting person is a member of LCP, has the power to vote and dispose of the securities of the issuer held by each of LVP and LCA, and may be deemed to have beneficial ownership of such securities. The reporting person disclaims beneficial ownership of the securities of the issuer held by LVP and LCA except to the extent of his pecuniary interest therein.

F5: Reflects 1,517,480 shares distributed by LVP to its limited partners. In prior reports, the reporting person reported indirect beneficial ownership of 2,276,222 shares of common stock of the issuer held by LVP.

F6: The option vests and becomes exercisable on May 24, 2019, subject to the director's continued service with the issuer.