BIIB Insider Susan Langer Acquires 2.4K Shares in Latest Form 4

Rhea-AI Filing Summary

SEC Form 4 filed on 06/18/2025 reveals that Biogen Inc. (BIIB) director Susan K. Langer acquired 2,370 shares of common stock on 06/17/2025. The transaction is coded “A,” indicating an acquisition, and carries a stated price of $0 per share, characteristic of a director equity grant rather than an open-market purchase. Following the award, Langer’s direct beneficial ownership rises to roughly 5,129 shares. No derivative security activity or additional transactions were reported. The filing was signed by attorney-in-fact Wendell Taylor on behalf of the director. No other material changes or footnotes accompany the filing.

Positive

• Director insider acquisition: Susan Langer obtained 2,370 BIIB shares, expanding direct ownership to ~5,129 and signaling continued alignment with shareholders.

Negative

• None.

Insights

Securities Analyst

TL;DR – Small share award modestly increases director stake; marginally positive governance signal.

Insider activity remains one of many qualitative indicators for investors. While the 2,370-share grant boosts Susan Langer’s holdings by about 86% (to ~5,129 shares), the absolute value is minor relative to Biogen’s ~145 million-share float. Still, a net increase—rather than a sale—leans positive, suggesting ongoing alignment of board incentives with shareholder interests. No options, sales, or complex derivative positions were disclosed, reducing concerns about near-term dilution or conflicting signals. Overall, the event is directionally positive but not financially material; portfolio managers may log it as supportive but insufficient on its own to alter an investment thesis.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LANGER SUSAN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,370	$0.00	--

Holdings After Transaction: Common Stock — 5,129.1 shares (Direct)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LANGER SUSAN

(Last) (First) (Middle)

225 BINNEY

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BIOGEN INC. [ BIIB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/17/2025		A		2,370	A	$0	5,129.1	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Wendell Taylor, attorney-in-fact for Susan K. Langer	06/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Biogen (BIIB) shares did director Susan Langer acquire?

2,370 common shares were acquired on 06/17/2025.

What is Susan Langer’s total direct ownership after the transaction?

Her holdings rose to approximately 5,129 shares according to the Form 4.

Was the transaction an acquisition or a sale?

It was an acquisition (Transaction Code “A”).

What price was reported for the acquired shares?

The filing states a $0 per-share price, typical of an equity award.

When was the Form 4 for Biogen filed and signed?

It was signed on 06/18/2025 by attorney-in-fact Wendell Taylor for Susan Langer.