Form 4: Neurocrine Biosciences Director Kevin Gorman Reports Stock Sale and RSU Vesting
SEC Form 4
Director Kevin Gorman reports the vesting of restricted stock units and the sale of Neurocrine Biosciences (NBIX) stock under a pre-arranged 10b5-1 trading plan.
Summary
- Kevin Gorman, a director at Neurocrine Biosciences, reported the vesting of 4,318 restricted stock units (RSUs) on February 8, 2025, which converted into common stock.
- On February 10, 2025, Gorman sold 2,274 shares of Neurocrine Biosciences common stock at a weighted average price of $118.3673 per share, with prices ranging from $116.06 to $123.53.
- The sale was executed under a Rule 10b5-1 trading plan adopted on June 10, 2021.
- Following the reported transactions, Gorman beneficially owns 521,348 shares of Neurocrine Biosciences common stock.
Sentiment
Score: 5
Explanation: This is a routine disclosure of insider trading activity. The use of a 10b5-1 plan suggests the transactions were pre-planned and not based on current inside information. Therefore, the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of insider trading activity and provide transparency into the buying and selling activities of company insiders. The use of 10b5-1 trading plans is a common practice to avoid accusations of insider trading.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| June 10, 2021 | Date of adoption of Rule 10b5-1 trading plan. |
| February 8, 2021 | Date the RSU was granted to the Reporting Person. |
| February 8, 2022 | Date the RSU vested as to 4,317 shares. |
| February 8, 2023 | Date the RSU vested as to 4,317 shares. |
| February 8, 2024 | Date the RSU vested as to 4,317 shares. |
| February 8, 2025 | Date of RSU vesting (4,318 shares). |
| February 10, 2025 | Date of stock sale. |
| February 12, 2025 | Date of Form 4 filing. |
Keywords
Neurocrine Biosciences, NBIX, Kevin Gorman, Form 4, Restricted Stock Units, RSU, Stock Sale, 10b5-1 Trading Plan, Director, Beneficial Ownership
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