Form 4: Neurocrine Biosciences Chief Legal Officer Darin Lippoldt Reports Stock Sale and RSU Vesting
SEC Form 4 Filing
Darin Lippoldt, Chief Legal Officer of Neurocrine Biosciences, reports the vesting of restricted stock units and subsequent sale of shares under a pre-arranged 10b5-1 trading plan.
Summary
- Darin Lippoldt, Chief Legal Officer of Neurocrine Biosciences, filed a Form 4 detailing changes in beneficial ownership.
- On January 31, 2025, 2,373 restricted stock units (RSUs) vested, each representing a contingent right to receive one share of Neurocrine Biosciences' common stock.
- Also on January 31, 2025, Lippoldt sold 1,250 shares of common stock at a weighted average price of $152.9064 per share, with prices ranging from $151.94 to $153.57.
- The sale was executed under a Rule 10b5-1 trading plan adopted on September 1, 2022.
- Following these transactions, Lippoldt directly owns 40,863 shares of common stock and 2,373 derivative securities (RSUs).
Sentiment
Score: 5
Explanation: This is a routine disclosure of insider transactions. The use of a 10b5-1 plan suggests the transactions were pre-planned and not based on any specific inside information. Therefore, the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of insider trading compliance, providing transparency into the transactions of company executives and directors. The use of a 10b5-1 trading plan is a common practice to avoid accusations of insider trading, as it allows insiders to sell shares according to a pre-arranged schedule.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, but the pre-arranged nature of the sale mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| September 1, 2022 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| January 31, 2022 | Date the Restricted Stock Units were granted to the Reporting Person |
| January 31, 2023 | Date 2,373 shares vested in accordance with the terms of the RSU |
| January 31, 2024 | Date 2,373 shares vested in accordance with the terms of the RSU |
| January 31, 2025 | Date of the reported transactions: RSU vesting and stock sale |
| January 31, 2026 | Date 2,373 shares will vest in accordance with the terms of the RSU |
| February 04, 2025 | Date of Form 4 filing |
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