Form 4: Cencora CEO Robert Mauch Exercises Stock Options and Sells Shares Under Pre-Arranged Trading Plan

Cencora's President and CEO, Robert P. Mauch, exercised stock options and subsequently sold a portion of his common stock holdings on June 18, 2025, under a pre-established Rule 10b5-1 trading plan.

Summary

• Robert P. Mauch, President & CEO and Director of Cencora, Inc. (COR), reported transactions on June 18, 2025.
• He exercised 3,225 non-qualified stock options at an exercise price of $86.09 per share.
• Following the option exercise, his direct beneficial ownership of common stock increased to 49,063 shares.
• Concurrently, Mr. Mauch sold 4,969 shares of Cencora common stock at a price of $295.30 per share.
• This sale was conducted pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024.
• After these transactions, Mr. Mauch's direct beneficial ownership of Cencora common stock stands at 44,094 shares.
• He also beneficially owns 29,027 non-qualified stock options.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. While it's an insider sale, it was pre-planned under a 10b5-1 plan, which mitigates negative interpretations. The exercise of options at a much lower price than the sale price indicates a profitable transaction for the insider.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating a pre-planned transaction rather than a reaction to immediate market conditions, which often mitigates negative investor perception.
• The exercise of options at $86.09 and subsequent sale at $295.30 indicates a significant profit for the insider on the exercised shares, reflecting the company's stock appreciation.

Negatives

• An insider sale, even if pre-planned, reduces the insider's direct equity stake in the company, which can sometimes be perceived with slight caution by investors.

Future Outlook

NA

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: The sale by a key executive could be viewed with slight caution, though the 10b5-1 plan mitigates concerns. The reduction in direct beneficial ownership by 8,000 shares (3,225 acquired, 4,969 sold) is minor relative to total shares outstanding.

Key Dates

Recommendation

Keywords

Cencora, COR, Robert Mauch, Insider Trading, Form 4, Stock Option Exercise, Share Sale, Rule 10b5-1 Plan, CEO, Director