Form 4: Neurocrine Biosciences Director Sells Shares Under Pre-Arranged Trading Plan

Kevin Charles Gorman, a Director at Neurocrine Biosciences Inc. (NBIX), sold 9,613 shares of common stock for approximately $1.16 million, executed under a Rule 10b5-1 trading plan.

Summary

• Kevin Charles Gorman, a Director of Neurocrine Biosciences Inc. (NBIX), disposed of 9,613 shares of common stock.
• The transaction occurred on May 27, 2025, at a weighted average sales price of $120.3798 per share.
• The total value of the shares sold is approximately $1,156,999.75.
• The sale was conducted pursuant to a Rule 10b5-1 trading plan, which was adopted by the Reporting Person on February 24, 2025.
• Following this transaction, Kevin Charles Gorman beneficially owns 514,596 shares.
• The remaining 514,596 shares are held by the Gorman and Blais Family Trust, where Dr. Gorman holds voting and investment power.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it's an insider sale, the execution under a Rule 10b5-1 plan mitigates negative interpretations, suggesting a pre-planned liquidity event rather than a reaction to adverse company news.

Positives

• The transaction was executed under a Rule 10b5-1 trading plan, indicating a pre-scheduled sale not based on new, non-public information, which can reduce concerns about insider selling.

Negatives

• A director selling shares, even under a pre-arranged plan, represents a reduction in insider ownership, which some investors might view as a slight negative signal.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the general implications of insider share disposition.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The disposition reported in this Form 4 was effected by a broker pursuant to instructions set forth in a Rule 10b5-1 trading plan adopted by the Reporting Person on February 24, 2025.
• The Reporting Person has provided to the issuer, and will provide to any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range of $119.62 to $120.87.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide broader industry context or trends. It is specific to Neurocrine Biosciences Inc. and its director's shareholdings.

Related Party Transactions

• 514,596 shares of the outstanding common stock are held by the Gorman and Blais Family Trust, of which Dr. Gorman has voting and investment power.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in insider ownership, which is generally a neutral event given the 10b5-1 plan. It does not indicate a change in company strategy or performance.

Key Dates

Keywords

Neurocrine Biosciences, NBIX, SEC Form 4, Insider Trading, Share Sale, Director, Rule 10b5-1 Plan, Common Stock, Beneficial Ownership