Form 4: BioMarin CEO Jean-Jacques Bienaime Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
BioMarin's CEO, Jean-Jacques Bienaime, exercised stock options and sold 40,000 shares of common stock on May 9th and 10th, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Jean-Jacques Bienaime, CEO of BioMarin Pharmaceutical Inc., executed stock options to acquire 40,000 shares of common stock at a price of $63.10 on May 9th and 10th, 2024.
- Simultaneously, Bienaime sold 20,000 shares on May 9th at $81.62 and 20,000 shares on May 10th at $81.14.
- These transactions were conducted under a pre-arranged 10b5-1 trading plan established on August 7, 2023.
- Following these transactions, Bienaime directly owns 474,994 shares of BioMarin common stock.
- He also indirectly owns 247,333 shares through the Jean-Jacques Bienaime Family Trust, 100 shares as UTMA custodian for child 1, and 100 shares as UTMA custodian for child 2.
- After the transactions, Bienaime directly owns 51,000 stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions are part of a pre-planned trading strategy and do not necessarily indicate a change in the executive's confidence in the company.
Industry Context
Executive stock sales are common and often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan provides a legal framework for insiders to trade company stock.
Key Dates
| Date | Description |
|---|---|
| 2014-12-04 | Date exercisable for stock options |
| 2023-08-07 | Date of execution of the 10b5-1 plan. |
| 2024-05-09 | Date of stock option exercise and share sale. |
| 2024-05-10 | Date of stock option exercise and share sale. |
| 2024-05-13 | Date of Form 4 filing. |
| 2024-06-03 | Expiration date for stock options |
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