Form 4: Cencora Executive Chairman Exercises Options and Sells Shares Under Pre-Planned Trading Plan

Cencora's Executive Chairman, Steven H. Collis, executed a pre-planned transaction, exercising stock options and subsequently selling a portion of his common stock holdings.

Summary

• Steven H. Collis, Executive Chairman and Director of Cencora, Inc. (COR), engaged in a pre-planned transaction on July 22, 2025.
• Exercised non-qualified stock options to acquire 12,578 shares of common stock at an exercise price of $86.09 per share.
• Sold 14,578 shares of common stock at a price of $292.67 per share.
• The sale was conducted pursuant to a Rule 10b5-1 trading plan adopted on November 25, 2024.
• Following these transactions, Mr. Collis beneficially owns 309,912.665 shares of common stock directly.
• He also retains 100,628 non-qualified stock options, which are exercisable in four equal annual installments from November 13, 2020, to November 13, 2023, and expire on November 13, 2026.

Sentiment

Score: 5

Explanation: The transaction is neutral in sentiment as it represents a pre-planned insider transaction (Rule 10b5-1 plan) involving both option exercise and a subsequent sale, which is a common occurrence for executives managing their equity compensation.

Positives

• Executive exercised stock options, indicating value in the underlying shares at the exercise price of $86.09.
• The sale was executed at a significantly higher price of $292.67, indicating a substantial gain on the exercised options.
• The transaction was pre-planned under a Rule 10b5-1 trading plan, which suggests a structured approach to personal financial management rather than a reaction to immediate market conditions.

Negatives

• The Executive Chairman sold 14,578 shares of common stock, which is 2,000 shares more than the 12,578 shares acquired through option exercise, resulting in a net decrease in direct common stock ownership.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A minor net reduction in direct ownership by a key executive, though pre-planned, could be perceived as a slight negative, but the overall impact is likely minimal given the context of equity compensation management.

Key Dates

Keywords

Cencora, COR, Steven H. Collis, Form 4, Insider Trading, Stock Option Exercise, Stock Sale, Rule 10b5-1 Plan, Executive Chairman, Equity Transaction