Form 4: Neurocrine Biosciences Director Kevin Gorman Reports Stock Sales and RSU Vesting
SEC Form 4
Director Kevin Gorman reports the vesting of Restricted Stock Units (RSUs) and subsequent sale of Neurocrine Biosciences (NBIX) common stock under pre-arranged 10b5-1 trading plans.
Summary
- Kevin Gorman, a director at Neurocrine Biosciences, filed a Form 4 detailing changes in beneficial ownership.
- On February 13, 2025, Gorman vested 5,376 shares from an RSU granted on February 13, 2023, and 5,603 shares from an RSU granted on February 13, 2024.
- Gorman sold 2,832 shares at a weighted average price of $116.6895 and 3,012 shares at a weighted average price of $116.6832, both under 10b5-1 trading plans.
- Following these transactions, Gorman directly owns 524,209 shares of Neurocrine Biosciences common stock and 16,812 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The document indicates future vesting dates for Gorman's Restricted Stock Units, suggesting continued equity compensation.
Industry Context
Form 4 filings are routine disclosures for corporate insiders and provide transparency into their trading activities. The use of 10b5-1 plans is a common practice to avoid accusations of insider trading.
Comparison to Industry Standards
- Stock sales by executives are common and are often executed under 10b5-1 trading plans to comply with insider trading regulations.
- The size of the transactions is not unusual for a director of a company the size of Neurocrine Biosciences.
- Companies like Amgen, Biogen, and Vertex Pharmaceuticals also see regular Form 4 filings from their executives.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders, but the transactions are conducted under a pre-arranged plan.
- The vesting of RSUs is part of the executive compensation package and aligns management's interests with shareholders.
Key Dates
| Date | Description |
|---|---|
| March 15, 2023 | Date of adoption of Rule 10b5-1 trading plan. |
| February 13, 2023 | Date of grant of Restricted Stock Unit. |
| June 14, 2024 | Date of adoption of Rule 10b5-1 trading plan. |
| February 13, 2024 | Date of grant of Restricted Stock Unit. |
| February 13, 2025 | Date of transaction (RSU vesting and stock sales). |
| February 13, 2026 | Future vesting date of 5,377 shares from RSU granted on February 13, 2023. |
| February 13, 2027 | Future vesting date of 5,377 shares from RSU granted on February 13, 2023. |
| February 13, 2026 | Future vesting date of 5,604 shares from RSU granted on February 13, 2024. |
| February 13, 2027 | Future vesting date of 5,604 shares from RSU granted on February 13, 2024. |
| February 13, 2028 | Future vesting date of 5,604 shares from RSU granted on February 13, 2024. |
| February 14, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Neurocrine Biosciences, NBIX, Kevin Gorman, Restricted Stock Units, RSU, 10b5-1 trading plan, Insider Trading, Stock Sale, Beneficial Ownership
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