Form 4: Cencora Inc. CEO Steven Collis Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Cencora's CEO, Steven Collis, exercised stock options and sold shares of common stock under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 19, 2024, Steven H. Collis, the Chairman, President, and CEO of Cencora, Inc., exercised non-qualified stock options to acquire 10,755 shares of Cencora common stock at a price of $89.58 per share.
- Simultaneously, Collis sold 10,755 shares of Cencora common stock at a price of $240.21 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan that Collis entered into on December 18, 2023.
- Following these transactions, Collis directly owns 285,088 shares of Cencora common stock and 118,299 non-qualified stock options.
Sentiment
Score: 5
Explanation: The document describes routine stock transactions by an executive under a pre-existing plan, indicating a neutral sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often governed by pre-arranged trading plans like Rule 10b5-1 to avoid insider trading concerns. These transactions can be influenced by factors such as company performance, executive compensation structures, and personal financial planning.
Comparison to Industry Standards
- Executive compensation practices, including stock options and trading plans, are common across publicly traded companies.
- Companies like McKesson and Cardinal Health, which are Cencora's main competitors, also have similar executive compensation structures and policies regarding stock transactions.
- The use of Rule 10b5-1 trading plans is a standard practice to ensure compliance with insider trading regulations.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-arranged nature of the trades mitigates concerns about insider information.
Key Dates
| Date | Description |
|---|---|
| 12/18/2023 | Date of Rule 10b5-1 trading plan entered into by Steven H. Collis |
| 12/21/2023 | Date of Company's Form 8-K filed with the Securities and Exchange Commission disclosing the Rule 10b5-1 trading plan |
| 03/19/2024 | Date of stock option exercise and share sale by Steven H. Collis |
| 03/21/2024 | Date of signature on the Form 4 filing |
| 11/14/2025 | Expiration date of the Non-qualified Stock Option (Right to Buy) |
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