Form 4: Cencora CEO Sells Shares After Option Exercise

Cencora's President & CEO, Robert P. Mauch, exercised stock options and subsequently sold a portion of his common stock holdings, totaling a net disposition of 1,333 shares.

Summary

• Robert P. Mauch, President & CEO and Director of Cencora, Inc. (COR), reported transactions on November 18, 2025.
• Mauch exercised non-qualified stock options to acquire 3,763 shares of Cencora Common Stock at a price of $86.09 per share.
• Concurrently, Mauch sold 5,096 shares of Cencora Common Stock at a price of $366.64 per share.
• The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024.
• Following these transactions, Mauch's direct beneficial ownership of Common Stock decreased from 70,842 shares (after option exercise) to 65,746 shares.
• The number of beneficially owned non-qualified stock options decreased by 3,763 to 11,288.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a net disposition of shares by a key executive. While the sale was part of a pre-arranged 10b5-1 plan, which mitigates some of the negative signal, a net reduction in insider holdings can still be viewed with caution by investors.

Positives

• The exercise of stock options indicates a realization of value from previously granted equity compensation.

Negatives

• A net disposition of 1,333 shares of common stock by a key executive could be perceived negatively by some investors, although it was part of a pre-arranged trading plan.

Future Outlook

N/A. This filing reports past transactions and does not provide forward-looking statements or guidance.

Industry Context

N/A. This Form 4 filing reports an individual insider transaction and does not provide broader industry context or analysis.

Stakeholder Impact

• Shareholders: May interpret the net sale by a key executive as a slight negative signal, though the 10b5-1 plan context is important.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Recommendation

While the net sale of shares by the President & CEO could be a minor negative signal, it was conducted under a pre-arranged 10b5-1 trading plan, which suggests it's not based on new, material non-public information. The transaction itself does not provide enough information to warrant a 'buy' or 'sell' recommendation for Cencora stock. Investors should consider this transaction in the broader context of the company's financial performance and market conditions.

Keywords

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