BIIB Form 4: Insider Boosts Stake to 3,710 Shares

Rhea-AI Filing Summary

Form 4 overview: On 06/17/2025, Biogen Inc. (BIIB) director Monish D. Patolawala reported the acquisition of 2,370 shares of common stock at a stated price of $0.00, suggesting a share grant or similar equity award. Following the transaction, Mr. Patolawala now beneficially owns 3,710 shares, held directly.

The filing contains no derivative security activity, sales, or monetary purchase and therefore does not indicate cash outlay or immediate market transactions. While the increase in personal holdings modestly aligns the director’s interests with shareholders, the size of the transaction is relatively small against Biogen’s roughly $33 billion market capitalization, implying limited near-term market impact.

Positive

• Director acquired 2,370 additional shares, boosting personal stake to 3,710 shares.
• No shares were sold, indicating no negative signal regarding future share price.

Negative

• None.

Insights

Financial Analyst

TL;DR: Small zero-cost share grant; alignment positive but immaterial to valuation.

The reported acquisition of 2,370 shares at $0 reflects an equity award rather than an open-market purchase. The new 3,710-share stake is worth roughly $820k at a $220 share price, negligible relative to Biogen’s float. No selling pressure is indicated, and insider ownership inches higher, marginally strengthening governance incentives. However, absent cash consideration or strategic context, the event is neutral for valuation and liquidity.

Corporate Governance Expert

TL;DR: Grant-driven ownership bump enhances alignment; governance-neutral overall.

Equity awards are standard Board compensation. The filing confirms compliance with Section 16 reporting and shows direct holding structure, with no complex indirect vehicles. While any increase in insider ownership is conceptually shareholder-friendly, the modest scale provides no substantive shift in control or voting power. Governance posture remains unchanged; impact for investors is minimal.

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^*

Patolawala Monish D

(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	3,710	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 Mr. Patolawala	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 Monish D. Patolawala acquire?

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

What is the total number of BIIB shares Mr. Patolawala now owns?

He now beneficially owns 3,710 shares directly.

Did the insider pay for the shares?

No. The Form 4 lists a $0.00 transaction price, implying a share grant or similar award.

Were any derivative securities involved in this filing?

No derivative securities were reported in Table II.

Is there any sale of Biogen shares by the insider?

No sales were reported; the filing only shows an acquisition.