Form 4: Moderna Director Paul Sagan Reports Stock Purchase and Beneficial Ownership Changes

Director Paul Sagan reports purchasing Moderna shares and changes in beneficial ownership, including transfers to family trusts.

Summary

• On March 3, 2025, Paul Sagan, a director of Moderna, Inc., purchased 31,620 shares of common stock at a weighted average price of $31.76.
• The shares were bought in multiple transactions with prices ranging from $31.46 to $31.95.
• Following the reported transaction, Sagan directly owns 703 shares and indirectly owns 312,027 shares through various trusts and an LLC.
• 90,000 shares were transferred from The Paul Sagan Revocable Trust to The Chatham Trust on November 21, 2024.
• Erwin Park LLC is an investment vehicle owned by Sagan's children, and The Chatham Trust is an irrevocable family trust for which Sagan serves as a trustee.
• Sagan disclaims beneficial ownership of shares held by Erwin Park LLC and The Chatham Trust except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock purchase and changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment.

Management Comments

• The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, which is common for publicly traded companies like Moderna. It provides transparency to investors regarding the actions of company leadership.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider trading activity.

Key Dates