Form 4: BioMarin Executive George Eric Davis Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
BioMarin's EVP, Chief Legal Officer, George Eric Davis, sold 24,602 shares of common stock at $88.34 per share on March 28, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On March 28, 2024, George Eric Davis, the EVP, Chief Legal Officer of BioMarin Pharmaceutical Inc., sold 24,602 shares of BioMarin's common stock.
- The sale was executed at a price of $88.34 per share.
- This transaction was conducted under a pre-existing 10b5-1 trading plan established on September 13, 2023.
- Following the transaction, Davis directly owns 55,856 shares of BioMarin common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by company executives are a normal part of corporate activity. The use of a 10b5-1 plan suggests the executive planned the sale in advance to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 2023-09-13 | Date of execution of the 10b5-1 plan. |
| 2024-03-28 | Date of the stock sale transaction. |
| 2024-04-01 | Date of signature for the Form 4 filing. |
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