Form 4: Moderna's Chief Legal Officer Shannon Thyme Klinger Reports Stock Transactions

Shannon Thyme Klinger, Moderna's Chief Legal Officer, reported the acquisition and disposal of company stock, including transactions to cover tax obligations related to vesting restricted stock units.

Summary

• On May 31, 2024, Shannon Thyme Klinger, Chief Legal Officer of Moderna, exercised restricted stock units (RSUs) converting into 232 shares of common stock.
• Also on May 31, 2024, 232 shares were disposed of.
• On June 3, 2024, Klinger disposed of 122 shares of common stock at a price of $140.7198 per share to cover tax withholding obligations.
• Following these transactions, Klinger directly owns 10,878 shares of Moderna common stock.
• Klinger also directly owns 1,629 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by an officer. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency into the trading activities of key personnel at Moderna.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies like Moderna, similar to filings made by executives at Pfizer, BioNTech, and other pharmaceutical companies.
• The 'sell to cover' transaction for tax obligations is a common practice across the industry, ensuring compliance with tax laws without requiring executives to use personal funds.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they represent a small percentage of the total outstanding shares.
• The 'sell to cover' transaction ensures the executive meets their tax obligations, which indirectly benefits the company by maintaining compliance.

Key Dates