Form 4: Moderna Chief Legal Officer Reports Routine Stock Transactions Following RSU Vesting

Moderna's Chief Legal Officer, Shannon Thyme Klinger, reported the conversion of restricted stock units into common stock and subsequent share withholding for tax obligations.

Summary

• Shannon Thyme Klinger, Chief Legal Officer of Moderna, Inc. (MRNA), reported changes in her beneficial ownership of company stock.
• On May 30, 2025, Ms. Klinger acquired 233 shares of common stock through the conversion of restricted stock units (RSUs) on a one-for-one basis.
• Concurrently, 113 shares were disposed of at a price of $26.93 per share to satisfy tax withholding obligations related to the RSU vesting.
• Following these transactions, Ms. Klinger directly beneficially owns 26,300 shares of Moderna common stock.
• She also holds 698 unvested restricted stock units.
• The RSUs vested with 25% on March 1, 2023, with the remainder vesting in twelve equal quarterly installments thereafter.

Sentiment

Score: 5

Explanation: The document reports a routine insider transaction (RSU vesting and tax withholding) which is a standard compensation event and does not indicate any significant positive or negative operational or financial news for the company.

Positives

• The vesting of restricted stock units indicates a component of executive compensation being realized, aligning management's interests with shareholders.

Negatives

• A portion of shares (113 shares) was sold to cover tax liabilities, which is a common practice but reduces the direct ownership slightly.

Risks

• No specific risks related to the company's operations or financial health are disclosed in this Form 4 filing. The disposition of shares for tax withholding is a routine aspect of RSU vesting.

Future Outlook

The remaining 698 restricted stock units will continue to vest in twelve equal quarterly installments following the initial 25% vesting on March 1, 2023.

Management Comments

• No direct quotes from management are provided in this filing, which is typical for a Form 4. The filing is a factual report of transactions.

Industry Context

This Form 4 filing is a routine disclosure of an insider's stock transactions, common across all publicly traded companies, and does not provide specific insights into broader industry trends or competitive landscape for the biotechnology or pharmaceutical sector.

Comparison to Industry Standards

• This is a standard Form 4 filing reporting routine RSU vesting and tax withholding, which is a common compensation practice for executives across various industries. There are no specific comparable companies or projects mentioned in this document to assess against.

Related Party Transactions

• The transaction involves an executive's compensation, which is a form of related party transaction, but it is a standard, disclosed compensation event rather than an unusual dealing.

Stakeholder Impact

• Shareholders: The transaction represents a routine compensation event for an executive, which is part of the company's overall compensation structure. It does not directly impact the company's operational performance or financial health.
• Employees: No direct impact on general employees.
• Customers/Suppliers/Creditors: No direct impact.

Next Steps

• Remaining restricted stock units will continue to vest in twelve equal quarterly installments.

Key Dates

Keywords

Moderna, MRNA, Form 4, insider transaction, beneficial ownership, restricted stock units, RSU, Shannon Thyme Klinger, Chief Legal Officer, stock vesting, tax withholding