Form 4: Vaxcyte CEO Sells Shares Under Pre-Arranged Trading Plan

Vaxcyte CEO Grant Pickering sold a total of 15,000 shares of common stock in multiple transactions on December 2, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Vaxcyte CEO Grant Pickering sold 11,349 shares of common stock at a weighted average price of $92.06 on December 2, 2024.
• He also sold 1,409 shares at a weighted average price of $93.061 and 2,242 shares at a weighted average price of $94.06 on the same day.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on April 12, 2024.
• Following these transactions, Pickering directly owns 450,301 shares of Vaxcyte common stock.
• He also indirectly owns 137,398 shares through a trust for his daughter and another 137,398 shares through a trust for his son.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction under a pre-arranged trading plan, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine filing for insider transactions and is common for executives who have pre-arranged trading plans to avoid accusations of insider trading.

Comparison to Industry Standards

• Rule 10b5-1 trading plans are a common practice among executives at publicly traded companies, including those in the biotechnology sector like Vaxcyte.
• Similar filings are regularly made by executives at companies like Moderna, BioNTech, and Novavax when they execute trades under their pre-arranged plans.
• The volume of shares sold is not unusual for an executive with a significant stake in the company.

Stakeholder Impact

• The stock sales may have a minor impact on the share price, but the pre-arranged nature of the trades should mitigate any significant negative reaction from shareholders.

Key Dates

Keywords

Vaxcyte, Grant Pickering, stock sale, Rule 10b5-1, insider trading, executive, share transaction