Form 4: Vaxcyte SVP Mikhail Eydelman Executes Option and Sells Shares Under 10b5-1 Plan

Mikhail Eydelman, SVP, General Counsel & Corporate Secretary of Vaxcyte, Inc., exercised stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan.

Summary

• On November 5, 2024, Mikhail Eydelman, SVP, General Counsel & Corporate Secretary of Vaxcyte, Inc., exercised options to acquire 5,000 shares of common stock at a price of $21.41 per share.
• Eydelman then sold a total of 5,000 shares in multiple transactions at weighted average prices ranging from $104.80 to $107.496 per share.
• These sales were executed under a Rule 10b5-1 trading plan adopted on June 11, 2024.
• Following these transactions, Eydelman directly owns 28,623 shares of Vaxcyte common stock and 164,497 derivative securities (stock options).

Sentiment

Score: 6

Explanation: Neutral sentiment. The filing reflects routine transactions under a pre-arranged plan. No indication of unusual activity or concerns.

Positives

• The transactions were executed under a pre-arranged 10b5-1 trading plan, which can mitigate concerns about insider trading.

Industry Context

Insider transactions are common, and the use of a 10b5-1 plan suggests a structured approach to selling shares, which is generally viewed as less opportunistic.

Comparison to Industry Standards

• Comparing Eydelman's transactions to similar filings by executives at comparable biotech companies (e.g., Moderna, BioNTech) would provide context on the scale and frequency of such activities.
• The use of 10b5-1 plans is a standard practice among public company executives to manage their stock holdings while avoiding insider trading accusations.
• The vesting schedule of the options (1/4 vesting initially, then monthly) is a typical arrangement to incentivize long-term commitment.

Stakeholder Impact

• The transactions could have a minor impact on shareholders due to the sale of shares in the open market, but the effect is likely minimal given the relatively small volume and the use of a 10b5-1 plan.

Key Dates