Form 4: AbbVie Executive Perry C. Siatis Sells Shares Under 10b5-1 Plan
SEC Form 4
EVP, GC AND SECRETARY of AbbVie, Perry C. Siatis, reports selling shares of AbbVie stock on February 28 and 29, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Perry C. Siatis, an Executive Vice President, GC AND SECRETARY at AbbVie Inc., filed a Form 4 disclosing changes in beneficial ownership.
- On February 28, 2024, 7,885 shares were disposed of at a price of $178.99.
- On February 29, 2024, 6,504 shares were sold at a weighted average price of $177.05, with prices ranging from $176.51 to $177.43.
- An additional 3,387 shares were sold on February 29, 2024, at a weighted average price of $178.04, with prices ranging from $177.51 to $177.88.
- These sales were executed under a Rule 10b5-1 plan established on November 1, 2023.
- Following these transactions, Siatis directly owns 10,397 shares of AbbVie stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Executive stock sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less impactful since they are pre-arranged. It's important to consider the overall insider sentiment and trading activity at AbbVie and compare it to its peers in the pharmaceutical industry.
Comparison to Industry Standards
- Executive stock sales are a common practice across the pharmaceutical industry.
- Companies like Johnson & Johnson (JNJ), Pfizer (PFE), and Merck (MRK) also see regular Form 4 filings from their executives.
- The size and frequency of these sales can vary based on individual executive compensation plans and company performance.
- It's important to compare the volume of shares sold by Mr. Siatis to the average trading volume of ABBV and the typical insider selling activity at comparable companies to assess the significance of these transactions.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, although sales under 10b5-1 plans are generally viewed as less significant.
- The impact on employees, customers, suppliers, and creditors is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 2023-11-01 | Date of entry into Rule 10b5-1 plan |
| 2024-02-28 | Date of first stock sale |
| 2024-02-29 | Date of second stock sale |
| 2024-03-01 | Date of Form 4 filing |
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