Moderna execs sell stocks post company’s promising results for Covid-19 vaccine

Moderna execs sell stocks post company’s promising results for Covid-19 vaccine

Moderna’s stock surged ~30% on Mon after the company announced promising early results for its Covid-19 vaccine. However as investors gathered, Moderna’s CFO & CMO executed options and sold nearly $30mn shares jointly on Mon and Tuesday, SEC filings confirmed. However Moderna clarified that these transactions were automatically executed under 10b5-1 trading plans which were well-known in advance.

Milan
Milan
jako
jako 1 months

It is important in that if they really had confidence in their technology, they would have held onto these shares until the final version of vaccine would push the shares up even more

Michael Rogers
Michael Rogers 1 months

Everybody chill. The last sentence in the summary admits this is not news. The trade was a preplanned execution. You don't use insider trading to sell stocks that are potentially going up. Sheesh.

Beisht Kione
Beisht Kione 1 months

Rule 10b5-1 The price and amount must be specified (this may include a set price) and certain dates of sales or purchases must be noted. There must be a formula or metrics given for determining the amount, price, and date. The plan must give the broker the exclusive right to determine when to make sales or purchases as long as the broker does so without any MNPI when the trades are being made. https://www.investopedia.com/terms/r/rule-10b5-1.asp

Barry
Barry 1 months

Lol!

Steve Says
Steve Says 1 months

This is a perfect example of why 30m people have dumped both CNN and Daily Mail. Deceptive headlines that border on slander.

Skot
Skot 1 months

Nothing to see here. This vaccine is going to be great, just great!

Stephen
Stephen 1 months

So he waited a day to use information that the public had access to? Why is this news?

Tate
Tate 1 months

Isn't this standard "insider trading"?

IIZard
IIZard 1 months

Dodgy.

Barry
Barry 1 months

6 months ago this company was on the brink of bankruptcy. They just got over on everyone

Top in Business
Get the App