Moderna CEO exercises options, sells 499,246 shares
Moderna, Inc. CEO Stéphane Bancel reported exercising stock options for 751,715 shares of common stock at $19.15 per share on August 5–6, 2026, ahead of their August 10, 2026 expiration.
Rhea-AI Filing Summary
Moderna, Inc. CEO Stéphane Bancel reported exercising stock options for 751,715 shares of common stock at $19.15 per share on August 5–6, 2026, ahead of their August 10, 2026 expiration. Pursuant to a Rule 10b5-1 trading plan adopted on May 4, 2026, he sold 499,246 shares at weighted-average prices within disclosed ranges from $55.58 to $59.34 solely to cover the option exercise price, withholding taxes, and related transaction costs, and retained the remaining shares acquired in this cashless exercise-and-hold transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
12 txns
Insider
Bancel Stephane
Role
Chief Executive Officer
Sold
499,246 shs ($28.72M)
Approx. gross sale proceeds
$28.72M
Approx. exercise cost
$14.40M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) F1, F8 | 187,541 | $0.00 | $0.00 |
| Exercise | Stock Option (Right to Buy) F1, F8 | 64,928 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 252,469 | $19.15 | $4.83M |
| Exercise | Stock Option (Right to Buy) F1, F8 | 370,853 | $0.00 | $0.00 |
| Exercise | Stock Option (Right to Buy) F1, F8 | 128,393 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 499,246 | $19.15 | $9.56M |
| Sale | Common Stock F1, F2 | 147,473 | $56.21 | $8.29M |
| Sale | Common Stock F1, F3 | 124,838 | $56.96 | $7.11M |
| Sale | Common Stock F1, F4 | 39,891 | $58.12 | $2.32M |
| Sale | Common Stock F1, F5 | 187,044 | $58.79 | $11.00M |
| holding | Common Stock F6 | -- | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 0 contracts (Direct);
Common Stock — 6,440,260 shares (Direct);
Common Stock — 15,775,566 shares (Indirect, See Footnote)
Footnotes (8)
- F1. The reported transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on May 4, 2026. The Reporting Person exercised in full two stock option awards that were scheduled to expire on August 10, 2026. The options would have been forfeited if not exercised prior to their expiration date. In connection with the cashless exercise and hold transaction, the Reporting Person sold 499,246 shares acquired upon exercise solely to cover the exercise price, applicable withholding taxes, and related transaction costs, and retained all remaining shares of common stock acquired upon exercise.
- F2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $55.58 to $56.58. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
- F3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $56.59 to $57.59. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
- F4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $57.60 to $58.59. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
- F5. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $58.61 to $59.34. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
- F6. These shares are owned directly by Boston Biotech Ventures. 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.
- F7. These shares are owned directly by OCHA LLC ("OCHA"). The reporting person is the majority equity unit holder and the sole managing member of OCHA. 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.
- F8. This option is fully vested and exercisable.
Key Figures
Options exercised: 751,715 shares
Shares sold: 499,246 shares
Option exercise price: $19.15 per share
+3 more
6 metrics
Options exercised
751,715 shares
Total common shares underlying stock options exercised on August 5–6, 2026
Shares sold
499,246 shares
Common stock sold on August 5, 2026 to cover exercise price, taxes, and costs
Option exercise price
$19.15 per share
Conversion or exercise price of stock options exercised by the CEO
Sale price ranges
$55.58–$59.34 per share
Weighted-average sale prices across multiple trades disclosed in price ranges
Option expiration date
August 10, 2026
Scheduled expiration date of the two option awards exercised in full
10b5-1 plan adoption
May 4, 2026
Date the CEO adopted the Rule 10b5-1 trading plan governing these trades
Key Terms
Rule 10b5-1 trading plan, cashless exercise, weighted average price, Section 16 beneficial ownership, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The reported transactions were effected pursuant to a Rule 10b5-1 trading plan adopted..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
cashless exercise financial
"In connection with the cashless exercise and hold transaction, the Reporting Person sold..."
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Section 16 beneficial ownership regulatory
"The reporting person disclaims Section 16 beneficial ownership of these securities..."
pecuniary interest financial
"except to the extent of his pecuniary interest therein, if any..."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Moderna (MRNA) CEO Stéphane Bancel report in this Form 4?
Stéphane Bancel reported exercising stock options for 751,715 Moderna shares at $19.15 per share and, under a pre-arranged Rule 10b5-1 plan, selling 499,246 shares to cover the option exercise price, applicable tax withholding, and related transaction costs, while retaining the remaining shares acquired.
How many Moderna (MRNA) options did the CEO exercise and at what strike price?
Bancel exercised stock options covering 751,715 shares of Moderna common stock at a conversion or exercise price of $19.15 per share. The options were fully vested and scheduled to expire on August 10, 2026, and would have been forfeited if not exercised before that date.
Were the Moderna (MRNA) CEO’s trades made under a Rule 10b5-1 trading plan?
Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on May 4, 2026. The document-level checkbox also affirms Rule 10b5-1 status, indicating these trades followed a pre-established, pre-arranged trading framework rather than discretionary timing.
When were the exercised Moderna (MRNA) options due to expire?
The CEO exercised in full two stock option awards that were scheduled to expire on August 10, 2026. The filing notes the options would have been forfeited if not exercised before this expiration date, which is why the exercises occurred on August 5–6, 2026.
How are Stéphane Bancel’s indirect Moderna (MRNA) holdings described?
Some Moderna shares are held indirectly by entities such as Boston Biotech Ventures and OCHA LLC. The CEO disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest, and the report states it should not be deemed an admission of beneficial ownership for any purpose.
AI-generated analysis. How Rhea-AI works. Not financial advice.
