[Form 4] Bristol-Myers Squibb Co. Insider Trading Activity

Rhea-AI Filing Summary

David V. Elkins, Executive Vice President and Chief Financial Officer of Bristol-Myers Squibb Company (BMY), reported a sale of 56,000 shares of BMY common stock on 09/02/2025 at a weighted average price of $47.33 per share. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted on June 3, 2025, and the reported sale prices ranged from $47.075 to $47.820. After the transaction, Mr. Elkins beneficially owned 167,379 shares directly. In addition, the filing reports an indirect holding of 283.4 shares through the BMS Savings and Investment Program. The Form 4 was signed by an attorney-in-fact on 09/03/2025 and includes an undertaking to provide detailed per-price sale information upon request.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating the transactions were pre-authorized (adopted June 3, 2025).
• Weighted average sale price disclosed ($47.33) and price range provided ($47.075 to $47.820), with an undertaking to supply per-price details upon request.
• Timely filing with attorney-in-fact signature dated 09/03/2025 for the 09/02/2025 transaction.

Negative

• Insider sold 56,000 shares, reducing direct beneficial ownership and potentially decreasing insider shareholding concentration.
• Direct beneficial ownership is now 167,379 shares, which is lower than prior to the sale (amount prior not stated but implied by reduction).

Insights

Securities Analyst

TL;DR: CFO sold 56,000 BMY shares under a pre-established 10b5-1 plan; direct holdings remain material at 167,379 shares.

The Form 4 documents a routine insider sale executed under a Rule 10b5-1 trading plan, which provides an affirmative defense under insider trading rules when properly adopted and followed. The filing shows a weighted average sale price of $47.33 across multiple executions and discloses the remaining direct beneficial ownership of 167,379 shares. For investors assessing insider sentiment, the existence of a dated 10b5-1 plan reduces the interpretive weight of the sale as a contemporaneous signal, because it indicates the transactions were pre-authorized on June 3, 2025. The filing also discloses a small indirect holding via the company savings plan.

Corporate Governance Expert

TL;DR: Disclosure is complete and includes required explanations and exhibit references; sale details are available on request.

The Form 4 includes required explanatory notes: the sale was pursuant to a Rule 10b5-1 plan and the weighted average sales price plus the price range are disclosed. The report identifies the reporter's title (EVP, Chief Financial Officer) and indicates the trade was filed promptly with an attorney-in-fact signature dated one day after the transaction. The filing lists an exhibit for the reporting person's graphic signature. From a governance perspective, the disclosure content meets standard Form 4 specificity, and the filer offers to provide per-price execution details to regulators or security holders on request.

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^*

Elkins David V

(Last) (First) (Middle)

BRISTOL-MYERS SQUIBB COMPANY

ROUTE 206 AND PROVINCE LINE ROAD

(Street)

PRINCETON NJ 08543

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BRISTOL MYERS SQUIBB CO [ BMY ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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, $0.10 par value	09/02/2025		S		56,000(1)	D	$47.33(2)	167,379	D
Common Stock, $0.10 par value								283.4(3)	I	BMS Savings and Investment Program

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:

1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 3, 2025.

2. The price reported reflects the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $47.075 to $47.820, inclusive. The reporting person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price.

3. Based on recent 401(k) plan statement.

Remarks:

EXHIBIT LIST: EX-24 Exhibit 24 - David V. Elkins, GRAPHIC Exhibit 24 - David V. Elkins

	/s/ Sophie M. Bail, attorney-in-fact for David V. Elkins	09/03/2025
	** 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

What did BMY CFO David V. Elkins report on Form 4?

The filing reports a sale of 56,000 shares of Bristol-Myers Squibb common stock on 09/02/2025, executed under a Rule 10b5-1 trading plan.

At what price were the BMY shares sold by David V. Elkins?

The weighted average sale price was $47.33, with individual sale prices ranging from $47.075 to $47.820.

How many BMY shares does David V. Elkins beneficially own after the sale?

Following the reported transaction, Mr. Elkins beneficially owns 167,379 shares directly and an additional 283.4 shares indirectly through the BMS Savings and Investment Program.

Was the sale part of a pre-established trading plan?

Yes. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 3, 2025.

Where can I get the exact number of shares sold at each price?

The reporting person has undertaken to provide, upon request, full information regarding the number of shares sold at each separate price to the SEC staff, the issuer, or a security holder.