Form 4: Regeneron Director Michael S. Brown Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4
Regeneron Pharmaceuticals Director Michael S. Brown exercised stock options and sold shares of common stock on June 14, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On June 14, 2024, Michael S. Brown, a director of Regeneron Pharmaceuticals, exercised non-qualified stock options to acquire 1,535 shares of common stock at a price of $625.60.
- Simultaneously, Brown sold 1,535 shares of Regeneron common stock at $1,040 per share.
- These transactions were executed under a pre-arranged trading plan intended to comply with Rule 10b5-1(c), which was adopted on February 26, 2024.
- Following these transactions, Brown directly owns 1,382 shares of Regeneron common stock.
- Brown also indirectly owns 5,000 shares through a trust for the benefit of his family and 6,162 shares through another trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions. It is common for executives and directors to use 10b5-1 plans to manage their stock holdings and avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| 02/26/2024 | Date the Rule 10b5-1(c) trading plan was adopted. |
| 06/14/2024 | Date of the stock option exercise and share sale. |
| 01/03/2032 | Expiration date of the non-qualified stock options. |
| 06/17/2024 | Date of the Form 4 filing. |
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