Cencora Insider Offloads Shares Worth $4.3 Million in June Trade

Rhea-AI Filing Summary

Cencora (NYSE:COR) filed a Form 4 reporting insider transactions by Executive Chairman Steven H. Collis on 24 June 2025.

Collis exercised 12,579 stock options at an exercise price of $86.09 (code M) and sold 14,579 common shares at an average price of $292.62 (code S) under a pre-arranged Rule 10b5-1 trading plan adopted 25 Nov 2024. The sale is valued at roughly $4.3 million.

Following the transactions he directly owns 311,912.665 shares of common stock and retains 113,206 outstanding options. The disposition represents about 4.7 % of his prior direct holdings, yet he continues to hold a substantial equity stake.

Positive

• None.

Negative

• Executive Chairman Steven H. Collis sold 14,579 shares worth about $4.3 million, lowering his direct stake by roughly 4.7 %.

Insights

Insider Trading Analyst

TL;DR: $4.3 M sale by Chair signals mild negative sentiment despite large remaining stake.

The filing shows Collis monetising approximately $4.3 million in shares immediately after exercising options priced at $86.09, realising a spread of roughly $206.5 per share. Although the sale occurs under a disclosed 10b5-1 plan, the size exceeds the $1 million materiality threshold and trims nearly 5 % of his ownership. He still owns over 311 k shares, but the timing—late-stage exercise followed by sale—may be viewed as cautious positioning rather than confidence. No accompanying purchases or disclosures offset the bearish signal, so the net market takeaway is modestly negative.

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).

X

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^*

COLLIS STEVEN H

(Last) (First) (Middle)

1 WEST FIRST AVENUE

(Street)

CONSHOHOCKEN PA 19428

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cencora, Inc. [ COR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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	06/24/2025		M		12,579	A	$86.09	326,491.665	D
Common Stock	06/24/2025		S		14,579(1)	D	$292.62	311,912.665	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
Non-qualified Stock Option (Right to Buy)	$86.09	06/24/2025		M			12,579	(2)	11/13/2026	Common Stock	12,579	$0	113,206	D

Explanation of Responses:

1. The sale of stock reflected in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 11/25/24.

2. Exercisable in four equal annual installments on 11/13/20, 11/13/21, 11/13/22 and 11/13/23.

Remarks:

	/s/ Elizabeth S. Campbell, attorney-in-fact for Steven H. Collis	06/25/2025
	** 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 Cencora (COR) shares did Executive Chairman Steven Collis sell on 24 June 2025?

He sold 14,579 common shares.

What was the average sale price for the COR shares disposed of by Steven Collis?

The shares were sold at an average price of $292.62 per share.

Did the sale occur under a Rule 10b5-1 trading plan?

Yes. The filing states the sale was executed under a 10b5-1 plan adopted on 11/25/24.

How many Cencora shares does Steven Collis own after the reported transactions?

Collis directly owns 311,912.665 common shares following the sale.

What was the exercise price of the options converted by Steven Collis?

The options were exercised at $86.09 per share.

How many options does Steven Collis still hold after the transaction?

He retains 113,206 non-qualified stock options.