[Form 4] Neurocrine Biosciences Inc Insider Trading Activity

Rhea-AI Filing Summary

Robinhood Markets, Inc. (HOOD) has filed a Form 144 indicating the intended sale of 250,000 common shares with an estimated aggregate market value of $23.6 million. The shares are slated to be sold through Morgan Stanley Smith Barney LLC on or about 07 July 2025 on the NASDAQ.

The filing lists 767,047,021 shares outstanding; the contemplated transaction therefore represents roughly 0.03 % of the float, suggesting limited dilution or trading-volume impact. The notice also discloses that 750,000 shares were sold on 01 July 2025 for $69.95 million under a Rule 10b5-1 plan attributed to Vladimir Tenev.

• The current sale plus the earlier disposal totals 1.0 million shares, generating about $93.5 million for the insider within a single week.
• The seller affirms awareness of no undisclosed adverse information, and reliance on a written 10b5-1 plan mitigates insider-trading risk.

While purely administrative and not a guarantee of execution, the filing signals continued insider selling activity. Investors often watch such patterns for sentiment clues, even when the share count is immaterial relative to the company’s overall capitalization.

Positive

• Sale equals only ~0.03 % of outstanding shares, implying negligible dilution or market-supply pressure.
• Transaction is executed under a Rule 10b5-1 plan, enhancing transparency and reducing regulatory risk.

Negative

• Continued insider selling totaling 1.0 million shares in one week may be interpreted as reduced management conviction.
• Aggregate proceeds of ~$93.5 million could affect investor sentiment even if fundamentals remain unchanged.

Insights

Equity Research Analyst

TL;DR: 250k-share Form 144 is small (~0.03 %) yet extends insider selling trend, modestly negative for sentiment.

The proposed $23.6 million sale is negligible versus HOOD’s 767 million shares outstanding, so supply pressure should be minimal. However, it follows a 750k-share, $69.9 million transaction executed six days earlier, raising the cumulative insider sales to $93.5 million. Investors may interpret the pattern as waning executive confidence, although the 10b5-1 framework limits adverse legal inference. I classify the disclosure as neutral in fundamentals but slightly negative for near-term sentiment.

Corporate Governance Expert

TL;DR: Repeat sales under 10b5-1 reduce legal risk but optics of $93 M divestiture tilt negative.

Form 144 confirms compliance with resale rules and underscores the use of a pre-arranged 10b5-1 plan, a best practice that limits accusations of trading on material non-public information. Nonetheless, the back-to-back filings reveal aggressive liquidation by a key insider (Vladimir Tenev), which can erode shareholder trust. While the fractional percentage is small, perception effects matter; therefore, I deem the filing moderately negative for governance optics and investor confidence.

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^*

Onyia Jude

(Last) (First) (Middle)

6027 EDGEWOOD BEND CT.

(Street)

SAN DIEGO CA 92130

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEUROCRINE BIOSCIENCES INC [ NBIX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025

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	07/02/2025		M		20,362	A	$84.74	38,651	D
Common Stock	07/02/2025		S(1)		20,362	D	$130.1315(2)	18,289(3)	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	$84.74	07/02/2025		M			20,362	(4)	11/29/2031	Common Stock	20,362	$0	95,087	D

Explanation of Responses:

1. The disposition reported in this Form 4 was effected by a broker pursuant to instructions set forth in a Rule 10b5-1 trading plan adopted by the Reporting Person on November 18, 2024. Additionally, Issuer policy restricts the Reporting Person from amending or otherwise modifying any 10b5-1 trading plan subsequent to adoption of the plan.

2. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $130.00 to $130.40. The Reporting Person has provided to the issuer, and will provide to any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

3. Includes an aggregate of 200 shares purchased on February 28, 2025, from the Neurocrine Biosciences, Inc. 2018 Employee Stock Purchase Plan.

4. Represents option of which 1/4th of the shares underlying the option became vested and exercisable on November 29, 2022 and an additional 1/48th of the shares underlying the option becomes vested and excercisable each month thereafter. These options will expire ten years from the date of grant on November 29, 2031.

Remarks:

	/s/ Darin Lippoldt, Attorney-in-Fact	07/07/2025
	** 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 Robinhood (HOOD) shares are covered by this Form 144 filing?

The notice covers 250,000 common shares of Robinhood Markets, Inc.

What is the estimated value of the proposed insider sale?

The aggregate market value is approximately $23.6 million.

When is the approximate sale date for the shares?

The filer indicates an approximate sale date of 07 July 2025.

Who executed recent insider sales mentioned in the filing?

The past-3-month sales section lists Vladimir Tenev as the seller of 750,000 shares on 01-Jul-2025.

How does the proposed sale compare to HOOD’s total shares outstanding?

The 250,000 shares represent about 0.03 % of the 767,047,021 shares outstanding.

Which brokerage firm will handle the transaction?

The shares are to be sold through Morgan Stanley Smith Barney LLC.