Form 4: AbbVie Executive Robert A. Michael Reports Stock Transactions
SEC Form 4 Filing
Robert A. Michael, AbbVie's President & Chief Operating Officer, reported multiple transactions involving AbbVie common stock, including sales and option exercises, according to a recent SEC filing.
Summary
- Robert A. Michael, President & Chief Operating Officer of AbbVie Inc., filed a Form 4 with the SEC detailing changes in his beneficial ownership of AbbVie stock.
- On February 28, 2024, 37,638 shares of common stock were disposed of at a price of $178.99.
- On February 29, 2024, Michael exercised options to acquire 11,420 shares at $61.36 and 10,140 shares at $54.86.
- Also on February 29, 2024, he sold 21,560 shares at a weighted average price of $176.44 and 47,319 shares at a weighted average price of $176.46.
- Following these transactions, Michael directly owns 98,645 shares of AbbVie common stock.
Sentiment
Score: 5
Explanation: This is a routine filing of stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. However, these transactions can be driven by a variety of personal financial planning considerations and don't always reflect a specific view on the company's performance.
Comparison to Industry Standards
- Executive stock transactions are common across the pharmaceutical industry.
- Comparing the volume and frequency of these transactions to peers like Johnson & Johnson (JNJ) or Pfizer (PFE) can provide context.
- However, without knowing the executive's overall compensation package and holdings, it's difficult to assess the significance of these specific transactions relative to industry norms.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership.
- The impact on employees, customers, suppliers, and creditors is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 02/16/2018 | Date option exercisable for 11,420 shares at $61.36. |
| 02/18/2017 | Date option exercisable for 10,140 shares at $54.86. |
| 02/28/2024 | Disposal of 37,638 shares of common stock at $178.99. |
| 02/29/2024 | Exercise of options and sale of shares. |
| 02/15/2027 | Expiration date for option to buy 11,420 shares at $61.36. |
| 02/17/2026 | Expiration date for option to buy 10,140 shares at $54.86. |
| 03/01/2024 | Date of signature on the Form 4 filing. |
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