Moderna (MRNA) president sells 53K shares after exercising stock options

Rhea-AI Filing Summary

Moderna, Inc. president Stephen Hoge exercised stock options and sold shares in a pre-planned transaction. On June 15, 2026, he exercised options for a total of 53,336 shares of common stock at an exercise price of $19.15 per share, then sold 53,336 shares in an open-market transaction at an average price of $51.37 per share.

After these transactions, Hoge holds 1,483,848 shares of Moderna common stock directly, plus indirect holdings of 151,933 shares through a trust for his spouse and children and 4,116 shares through Valhalla, LLC. The filing notes that the sale was made under a Rule 10b5-1 trading plan adopted on November 13, 2025, indicating it was pre-scheduled.

Insights

Insider trading analyst

Pre-planned option exercise and sale; insider retains a large stake.

Stephen Hoge, president of Moderna, exercised fully vested stock options to acquire 53,336 shares at an exercise price of $19.15 and sold the same number of shares at about $51.37. The filing states this was done under a Rule 10b5-1 trading plan adopted on November 13, 2025, suggesting a routine, pre-arranged liquidity event rather than ad‑hoc selling.

Following the transactions, Hoge still directly owns 1,483,848 shares, with additional indirect holdings via a family trust and Valhalla, LLC. With no remaining derivative positions listed after the option exercises, his exposure is now entirely in common stock. Subsequent company filings may update whether similar 10b5‑1 plan trades continue over time.

Insider Trade Summary 10b5-1

Net Seller: 53,336 shares ($2,739,870)

Net Sell 7 txns

Insider Hoge Stephen

Role President

Sold 53,336 shs ($2.74M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	37,226	$0.00	--
Exercise	Stock Option (Right to Buy)	16,110	$0.00	--
Exercise	Common Stock	37,226	$19.15	$713K
Exercise	Common Stock	16,110	$19.15	$309K
Sale	Common Stock	53,336	$51.37	$2.74M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 37,226 shares (Direct, null); Common Stock — 1,521,074 shares (Direct, null); Common Stock — 4,116 shares (Indirect, By Valhalla, LLC)

Footnotes (1)

1. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on November 13, 2025. 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. This option is fully vested and exercisable.

Key Figures

Shares sold: 53,336 shares Sale price: $51.37 per share Options exercised: 53,336 shares +4 more

7 metrics

Shares sold 53,336 shares Open-market sale of common stock on June 15, 2026 at $51.37

Sale price $51.37 per share Average price for 53,336 Moderna common shares sold

Options exercised 53,336 shares Total common shares acquired via option exercises at $19.15

Option exercise price $19.15 per share Conversion or exercise price for stock options exercised

Direct holdings after transactions 1,483,848 shares Common stock directly owned by Hoge following June 15, 2026 trades

Trust indirect holdings 151,933 shares Common stock held by a trust for spouse and children

Valhalla, LLC indirect holdings 4,116 shares Common stock held indirectly by Valhalla, LLC

Key Terms

Rule 10b5-1 trading plan, Section 16 beneficial ownership, Stock Option (Right to Buy), derivative security

4 terms

Rule 10b5-1 trading plan regulatory

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

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.

Section 16 beneficial ownership regulatory

"The reporting person disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any…"

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)" with underlying security title "Common Stock" and an exercise price of 19.1500."

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" for the M-coded option transactions."

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

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Form 4 Insider Transactions: What Each Field Means →

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 MASSACHUSETTS 02142

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/15/2026		M(1)		37,226	A	$19.15	1,521,074	D
Common Stock	06/15/2026		M(1)		16,110	A	$19.15	1,537,184	D
Common Stock	06/15/2026		S(1)		53,336	D	$51.37	1,483,848	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	06/15/2026		M(1)			37,226	(3)	08/10/2026	Common Stock	37,226	$0	37,226	D
Stock Option (Right to Buy)	$19.15	06/15/2026		M(1)			16,110	(3)	08/10/2026	Common Stock	16,110	$0	16,110	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	06/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Moderna (MRNA) president Stephen Hoge report on June 15, 2026?

Stephen Hoge reported exercising options for 53,336 Moderna shares at an exercise price of $19.15 and selling 53,336 shares at an average price of $51.37. The sale was executed as an open‑market transaction under a pre‑established Rule 10b5‑1 trading plan.

How many Moderna (MRNA) shares does Stephen Hoge hold after this Form 4 filing?

After the reported transactions, Stephen Hoge directly owns 1,483,848 Moderna common shares. He also has indirect holdings of 151,933 shares through a family trust and 4,116 shares through Valhalla, LLC, providing a sizeable ongoing equity position in the company.

Was Stephen Hoge’s sale of Moderna (MRNA) shares pre-planned under a Rule 10b5-1 plan?

Yes. The filing states the reported transaction was effected pursuant to a Rule 10b5‑1 trading plan adopted on November 13, 2025. Such plans schedule trades in advance, which generally indicates routine portfolio management rather than opportunistic market timing by the insider.

What stock options did Stephen Hoge exercise in the latest Moderna (MRNA) Form 4?

Hoge exercised fully vested stock options covering 16,110 shares and 37,226 shares of Moderna common stock, both with a conversion or exercise price of $19.15 per share. The related option awards were described as fully vested and exercisable in the Form 4 footnotes.

How are Stephen Hoge’s indirect Moderna (MRNA) holdings structured in this Form 4?

Indirect holdings include 151,933 shares owned by a trust for his spouse and children, and 4,116 shares held by Valhalla, LLC. The filing notes a disclaimer of Section 16 beneficial ownership for the trust shares, except for any pecuniary interest Hoge may have.