BridgeBio (BBIO) Director Reports Option Exercise and Same-Day Sale on 09/05/2025
Rhea-AI Filing Summary
Frank McCormick, a director of BridgeBio Pharma, Inc. (BBIO), reported transactions dated 09/05/2025. On that date he exercised a stock option to acquire 74,000 shares at an exercise price of $11.92 per share. He also sold 74,000 shares with a weighted average sale price of $53.156 per share (range $52.96–$53.39). After the reported transactions the Form 4 shows 83,275 shares owned directly, 879,979 shares owned indirectly by the Francis P. McCormick Rev Trust, and 84,814 shares underlying options held directly.
Positive
- Exercise of 74,000 options at a stated exercise price of $11.92 was disclosed
- Detailed price range provided for shares sold ($52.96–$53.39) with weighted average sale price $53.156
- Indirect ownership clearly disclosed: 879,979 shares held by the Francis P. McCormick Rev Trust
Negative
- Sale of 74,000 shares was reported the same day as the option exercise, reducing direct holdings to 83,275 shares
- No breakdown in the filing of the exact number of shares sold at each price within the disclosed price range (only weighted average provided)
Insights
TL;DR Director exercised options and sold an equal number of shares the same day, net direct holdings changed as reported.
The filing documents a same-day option exercise of 74,000 shares at $11.92 and an immediate sale of 74,000 shares at a weighted average of $53.156. This is a clear disclosable Section 16 transaction showing conversion of option exposure into cash while retaining substantial indirect holdings via a family trust. The numbers reported are precise: direct beneficial ownership ended at 83,275 shares and indirect ownership at 879,979 shares, with 84,814 option-based shares remaining outstanding to the reporting person.
TL;DR Form 4 properly discloses director transactions and identifies an Attorney-in-Fact signature.
The filing identifies the reporting person as a director and indicates the Form 4 was signed on behalf of the reporting person by an Attorney-in-Fact. It includes an exhibit reference to a Power of Attorney. The disclosure lists both direct and indirect ownership and provides an explicit footnote on the sale price range and vesting schedule for the option, meeting standard Form 4 disclosure practices.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 74,000 | $0.00 | -- |
| Exercise | Common Stock | 74,000 | $11.92 | $882K |
| Sale | Common Stock | 74,000 | $53.156 | $3.93M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents the weighted average sale price of the shares sold from $52.96 to $53.39 per share. The Reporting Person will provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for all transactions within the range set forth in this footnote. The stock option vests and becomes exercisable in three annual installments after February 21, 2023, with a final vesting date of February 21, 2026, subject to the Reporting Person's continued service on the Issuer's Board of Directors through each such date.
