Moderna director exercises 16,233 RSUs

Moderna, Inc. director Sandra Horning increased her direct common stock holdings through equity compensation, not open‑market trading.

Rhea-AI Filing Summary

Moderna, Inc. director Sandra Horning increased her direct common stock holdings through equity compensation, not open‑market trading. On April 30, 2026, 16,233 restricted stock units converted into 16,233 shares of common stock on a one-for-one basis when the award vested in full. Following this exercise-and-hold event, she directly holds 18,585 Moderna common shares. The filing shows no stock sales, gifts, or tax-withholding dispositions, indicating a routine vesting of previously granted RSUs rather than a market purchase or sale.

Insights

Insider trading analyst

Routine RSU vesting increased holdings without any share sales.

Director Sandra Horning had 16,233 restricted stock units convert into the same number of Moderna common shares when the award vested on April 30, 2026. This is compensation-related equity becoming regular stock, not an open-market trade.

The transaction summary shows one derivative exercise totaling 16,233 shares and no reported sales, gifts, or tax-withholding events. After the vesting, she directly holds 18,585 common shares, so the filing reflects a routine increase in ownership rather than a directional market bet.

Insider Trade Summary

16,233 shares exercised/converted

Exercise 2 txns

Insider Horning Sandra

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	16,233	$0.00	$0.00
Exercise	Common Stock	16,233	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 18,585 shares (Direct)

Footnotes (2)

1. F1. Restricted stock units convert into common stock on a one-for-one basis.
2. F2. The shares subject to this restricted stock unit award vested in full on April 30, 2026.

Key Figures

RSUs exercised: 16,233 units Common shares acquired from RSUs: 16,233 shares Shares held after transaction: 18,585 shares +2 more

5 metrics

RSUs exercised 16,233 units Restricted stock units converting to common stock on April 30, 2026

Common shares acquired from RSUs 16,233 shares One-for-one conversion from vested restricted stock units

Shares held after transaction 18,585 shares Director’s direct Moderna common stock holdings post-vesting

Derivative exercises 1 transaction Single RSU award exercised/converted in this filing

Exercise price per RSU $0.00 per unit Restricted stock units converting to common shares at no cash exercise price

Key Terms

Restricted Stock Units, derivative security, one-for-one basis

3 terms

Restricted Stock Units financial

"The shares subject to this restricted stock unit award vested in full on April 30, 2026."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

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.

one-for-one basis financial

"Restricted stock units convert into common stock on a one-for-one basis."

FAQ

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

What did Moderna (MRNA) director Sandra Horning report in this Form 4?

Sandra Horning reported the vesting and conversion of 16,233 restricted stock units into 16,233 Moderna common shares. This increased her direct holdings to 18,585 shares and reflects compensation-related equity becoming stock, not an open-market purchase or sale.

How many Moderna (MRNA) shares does Sandra Horning hold after this transaction?

After the reported transaction, Sandra Horning directly holds 18,585 shares of Moderna common stock. This figure reflects the addition of 16,233 shares from vested restricted stock units, with no accompanying sales, gifts, or tax-withholding share dispositions reported in the filing.

Was there any open-market buying or selling by Sandra Horning in Moderna (MRNA)?

The filing shows no open-market buying or selling by Sandra Horning. Instead, 16,233 restricted stock units vested and converted into 16,233 common shares, increasing her direct holdings to 18,585 shares through equity compensation rather than market transactions.

What are the details of the restricted stock units reported for Moderna (MRNA)?

The restricted stock unit award covered 16,233 units that convert into Moderna common stock on a one-for-one basis. According to the disclosure, the entire award vested in full on April 30, 2026, and all units converted into common shares held directly by Sandra Horning.

Did Sandra Horning retain any unexercised derivatives after this Moderna (MRNA) filing?

The derivative position related to the 16,233 restricted stock units was fully exercised, leaving zero units following the transaction. The derivative summary shows no remaining derivative securities from this award, indicating that the entire RSU grant vested and converted into common stock.

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

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Accepted by SEC EDGAR 05/04/2026 - 05:39 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).

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^*

Horning Sandra

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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	04/30/2026		M(1)		16,233	A	(1)	18,585	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
Restricted Stock Units	(1)	04/30/2026		M(1)			16,233	(2)	(2)	Common Stock	16,233	$0	0	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. The shares subject to this restricted stock unit award vested in full on April 30, 2026.

	/s/ James Dillon, as Attorney-in-Fact	05/04/2026
	** 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)