Form 4: Moderna Director Noubar Afeyan Sells Shares Under 10b5-1 Trading Plan

Noubar Afeyan, a director at Moderna, sold shares of the company's common stock on March 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 13, 2024, Noubar Afeyan, a director of Moderna, sold shares of the company's common stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 27, 2023, and amended on November 7, 2023.
• A total of 14,700 shares were sold in multiple transactions at varying prices ranging from $106.08 to $112.54.
• Following the reported transactions, Afeyan directly owns 2,131,931 shares of Moderna common stock.
• Afeyan also indirectly owns shares through Flagship Ventures Fund IV, L.P., Flagship Ventures Fund IV-Rx, L.P., and Flagship Pioneering, Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a transaction under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment towards the company's prospects.

Industry Context

Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over a period of time while avoiding concerns about insider trading. It is important to note that the document does not provide any context as to why the sales occurred.

Stakeholder Impact

• The sale of shares by a director could potentially create uncertainty among shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates