Form 4: Neurocrine Biosciences CFO Matt Abernethy Executes Stock Options and Sells Shares
SEC Form 4
Neurocrine Biosciences' Chief Financial Officer, Matt Abernethy, exercised stock options and sold shares of common stock on May 14 and 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Matt Abernethy, the Chief Financial Officer of Neurocrine Biosciences, executed non-qualified stock options on May 14 and 15, 2024.
- He acquired 15,000 shares of common stock on each day at an exercise price of $73.60 per share.
- Simultaneously, Abernethy sold 15,000 shares of common stock on each day at weighted average prices of $135.6551 and $140.2406, respectively.
- These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 13, 2024.
- Following these transactions, Abernethy directly owns 31,528 shares of Neurocrine Biosciences common stock and 15,000 non-qualified stock options.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock option exercises and sales are common in the pharmaceutical industry as part of compensation packages. These transactions are often pre-planned and executed under Rule 10b5-1 trading plans to avoid accusations of insider trading.
Comparison to Industry Standards
- Executive compensation practices, including stock options and sales, are common across the biotechnology and pharmaceutical industries.
- Companies like Amgen, Biogen, and Gilead Sciences also utilize stock options as part of their executive compensation packages.
- The vesting schedules and exercise prices are generally aligned with industry norms to incentivize long-term performance.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares by a key executive.
- However, the pre-planned nature of the transactions under Rule 10b5-1 mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 12/01/2017 | Date of option grant |
| 12/01/2018 | First anniversary of option grant, 25% vesting |
| 11/01/2018 | Start of remaining 75% option vesting in 36 equal monthly installments |
| 02/13/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 05/14/2024 | Transaction date: Exercise of stock options and sale of shares |
| 05/15/2024 | Transaction date: Exercise of stock options and sale of shares |
| 05/16/2024 | Date of Form 4 filing |
| 12/01/2027 | Expiration date of non-qualified stock options |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.