Moderna president sells 160,009 shares in 10b5-1 plan

Moderna, Inc. president Stephen Hoge reported option exercises and a stock sale.

Rhea-AI Filing Summary

Moderna, Inc. president Stephen Hoge reported option exercises and a stock sale. On February 23, 2026, he exercised stock options covering 111,679 and 48,330 shares at an exercise price of $19.15 per share, receiving the same number of common shares. On the same date, he sold 160,009 Moderna common shares at an average price of $48.84 per share in an open-market transaction effected under a Rule 10b5‑1 trading plan adopted on November 13, 2025. After these transactions, he directly held 1,457,427 Moderna common shares. Separate indirect holdings include 4,116 shares held by Valhalla, LLC and 151,933 shares held by a trust for the benefit of his spouse and children, for which he disclaims beneficial ownership except to any pecuniary interest.

Insider Trade Summary

Exercise and Sale: 160,009 shares ($4.75M approx. pre-tax spread)

Exercise and Sale 7 txns

Insider Hoge Stephen

Role President

Sold 160,009 shs ($7.81M)

Approx. gross sale proceeds $7.81M

Approx. exercise cost $3.06M

Approx. pre-tax spread $4.75M

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	111,679	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	48,330	$0.00	$0.00
Exercise	Common Stock	111,679	$19.15	$2.14M
Exercise	Common Stock	48,330	$19.15	$926K
Sale	Common Stock	160,009	$48.84	$7.81M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 160,008 contracts (Direct); Common Stock — 1,457,427 shares (Direct); Common Stock — 4,116 shares (Indirect, By Valhalla, LLC); Common Stock — 151,933 shares (Indirect, By Trust)

Footnotes (3)

1. F1. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on November 13, 2025.
2. F2. These shares are owned directly by a trust for the benefit of Dr. Hoge's spouse and children, of which his spouse is a trustee. The reporting person disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.
3. F3. This option is fully vested and exercisable.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Moderna (MRNA) president Stephen Hoge report in this Form 4?

Stephen Hoge reported exercising stock options into 160,009 Moderna common shares and selling 160,009 shares. The filing also updates his direct and indirect holdings after these transactions.

How many Moderna (MRNA) shares did Stephen Hoge sell and at what price?

Stephen Hoge sold 160,009 Moderna common shares at an average price of $48.84 per share. This was an open-market or private transaction reported with code S.

Were Stephen Hoge’s Moderna (MRNA) share sales under a 10b5-1 plan?

Yes. The sale of 160,009 Moderna shares was effected under a Rule 10b5‑1 trading plan adopted on November 13, 2025, according to the footnote.

How many Moderna (MRNA) shares does Stephen Hoge hold after these transactions?

After the reported transactions, Stephen Hoge directly holds 1,457,427 Moderna common shares. The filing also reports additional indirect holdings through Valhalla, LLC and a family trust.

What stock options did Stephen Hoge exercise for Moderna (MRNA)?

Stephen Hoge exercised stock options covering 111,679 and 48,330 shares of Moderna common stock at an exercise price of $19.15 per share, receiving the equivalent number of common shares.

What indirect Moderna (MRNA) holdings related to Stephen Hoge are disclosed?

The filing shows 4,116 shares held indirectly through Valhalla, LLC and 151,933 shares held by a trust for his spouse and children. He disclaims beneficial ownership except for any pecuniary interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/25/2026 - 04:49 PM Learn about SEC filing dates

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^*

Hoge Stephen

(Last) (First) (Middle)

C/O MODERNA, INC.

325 BINNEY STREET

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Moderna, Inc. [ MRNA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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	02/23/2026		M(1)		111,679	A	$19.15	1,569,106	D
Common Stock	02/23/2026		M(1)		48,330	A	$19.15	1,617,436	D
Common Stock	02/23/2026		S(1)		160,009	D	$48.84	1,457,427	D
Common Stock								4,116	I	By Valhalla, LLC
Common Stock								151,933	I	By Trust(2)

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
Stock Option (Right to Buy)	$19.15	02/23/2026		M(1)			111,679	(3)	08/10/2026	Common Stock	111,679	$0	111,678	D
Stock Option (Right to Buy)	$19.15	02/23/2026		M(1)			48,330	(3)	08/10/2026	Common Stock	48,330	$0	48,330	D

Explanation of Responses:

1. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on November 13, 2025.

2. These shares are owned directly by a trust for the benefit of Dr. Hoge's spouse and children, of which his spouse is a trustee. The reporting person disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.

3. This option is fully vested and exercisable.

	/s/ James Dillon, as Attorney-in-Fact	02/25/2026
	** 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.