Form 4: Moderna Director David Rubenstein Acquires Stock Options and Restricted Stock Units

Director David M. Rubenstein reports acquisition of Moderna stock options and restricted stock units, set to vest in the coming years.

Summary

• On August 5, 2024, David M. Rubenstein, a director of Moderna, Inc., acquired stock options and restricted stock units (RSUs).
• Rubenstein acquired 5,051 stock options with an exercise price of $83.75, vesting fully on August 5, 2025, and expiring on August 5, 2034.
• He also acquired 4,065 stock options with an exercise price of $83.75, vesting fully on the earlier of May 6, 2025, or Moderna's next Annual Meeting of Stockholders, subject to continued service, and expiring on August 5, 2034.
• Additionally, Rubenstein acquired 850 RSUs vesting fully on August 5, 2025, and 677 RSUs vesting fully on the earlier of May 6, 2025, or Moderna's next Annual Meeting of Stockholders, subject to continued service.
• Following these transactions, Rubenstein directly owns 5,051 stock options, 4,065 stock options, 850 RSUs, and 677 RSUs.

Sentiment

Score: 7

Explanation: Director's acquisition of stock options and RSUs is a positive signal, suggesting confidence in the company's future, but it's a routine transaction.

Positives

• The acquisition of stock options and RSUs by a director signals confidence in the company's future performance.

Future Outlook

The vesting schedules of the stock options and RSUs are tied to future dates and continued service, incentivizing the director's ongoing involvement with Moderna.

Industry Context

Insider transactions are closely monitored as they can provide insights into management's perspective on the company's prospects. Acquisitions are generally viewed positively.

Comparison to Industry Standards

• Stock option and RSU grants are common forms of executive compensation in the biotechnology industry, aligning management interests with shareholder value.
• Companies like Pfizer, BioNTech, and Novavax also utilize similar equity-based compensation plans for their executives and directors.

Stakeholder Impact

• The transaction could positively influence shareholder sentiment due to the director's increased stake in the company's success.

Key Dates