Neurocrine director sells 245K shares at $154 avg

Neurocrine Biosciences director Kevin Charles Gorman reported same-day option exercises and share sales in company stock.

Rhea-AI Filing Summary

Neurocrine Biosciences director Kevin Charles Gorman reported same-day option exercises and share sales in company stock. He exercised 205,088 Non-Qualified Stock Options at $43.24 per share, converting them into common shares, and sold 245,088 common shares at a weighted average price of $154.3318 per share in open-market transactions.

The sales were carried out by a broker under a Rule 10b5-1 trading plan adopted on February 17, 2026, which company policy prevents him from amending after adoption. Following these transactions, he holds 511,293 common shares, which are held by the Gorman and Blais Family Trust, where he has voting and investment power.

Insights

Equity compensation and insider-trading analyst

Director executed an options-for-cash liquidity event under a pre-set 10b5-1 plan.

Director Kevin Charles Gorman exercised 205,088 stock options at $43.24 and sold 245,088 common shares at a weighted average of $154.3318. This is a classic exercise-and-sell pattern, turning long-held options granted on February 6, 2017 into cash before their February 6, 2027 expiry.

The filing states the sale was executed by a broker under a Rule 10b5-1 trading plan adopted on February 17, 2026, and notes company policy limits changes after adoption. Such pre-arranged plans are typically used for orderly, routine diversification rather than opportunistic market timing. After these trades, he continues to hold 511,293 shares through the Gorman and Blais Family Trust, indicating he retains a substantial equity stake.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider GORMAN KEVIN CHARLES

Role Director

Sold 245,088 shs ($37.82M)

Approx. gross sale proceeds $37.82M

Approx. exercise cost $8.87M

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option	205,088	$0.00	$0.00
Exercise	Common Stock	205,088	$43.24	$8.87M
Sale	Common Stock	245,088	$154.3318	$37.82M

Holdings After Transaction: Non-Qualified Stock Option — 0 contracts (Direct); Common Stock — 511,293 shares (Direct)

Footnotes (4)

1. F1. 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 February 17, 2026. Additionally, Issuer policy restricts the Reporting Person from amending or otherwise modifying any 10b5-1 trading plan subsequent to adoption of the plan.
2. F2. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $153.30 to $156.59. 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. F3. 511,293 of the outstanding shares are held by the Gorman and Blais Family Trust, of which Dr. Gorman has voting and investment power.
4. F4. The option was granted February 6, 2017 and vested in 48 equal monthly installments beginning March 6, 2017. These options were due to expire on February 6, 2027.

Key Figures

Shares sold: 245,088 shares Sale price (weighted average): $154.3318 per share Sale price range: $153.30–$156.59 per share +5 more

8 metrics

Shares sold 245,088 shares Common Stock sold on May 19, 2026

Sale price (weighted average) $154.3318 per share Weighted average sales price for common shares

Sale price range $153.30–$156.59 per share Range of individual trade prices

Options exercised 205,088 options Non-Qualified Stock Options converted to common stock

Option exercise price $43.24 per share Exercise price of Non-Qualified Stock Option grant

Shares held after transactions 511,293 shares Common Stock held via Gorman and Blais Family Trust

10b5-1 plan adoption date February 17, 2026 Date Rule 10b5-1 trading plan was adopted

Option expiration date February 6, 2027 Original expiration for the exercised option grant

Key Terms

Rule 10b5-1 trading plan, Non-Qualified Stock Option, weighted average sales price per share, Gorman and Blais Family Trust

4 terms

Rule 10b5-1 trading plan financial

"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"

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.

Non-Qualified Stock Option financial

"security_title: "Non-Qualified Stock Option" with an exercise price of 43.2400"

A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.

weighted average sales price per share financial

"Represents a weighted average sales price per share. These shares were sold in multiple transactions"

Gorman and Blais Family Trust financial

"511,293 of the outstanding shares are held by the Gorman and Blais Family Trust, of which Dr. Gorman has voting and investment power"

FAQ

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

What insider transactions did Neurocrine (NBIX) director Kevin Gorman report?

Kevin Gorman reported exercising 205,088 stock options and selling 245,088 Neurocrine common shares. The sales occurred at a weighted average price of $154.3318 per share, with trades executed in multiple transactions within a stated price range on May 19, 2026.

At what prices did Kevin Gorman sell NBIX shares in this Form 4 filing?

The filing shows a weighted average sales price of $154.3318 per share. Individual trades were executed in multiple transactions at prices ranging from $153.30 to $156.59, according to the weighted average price disclosure included in the footnotes.

How many Neurocrine (NBIX) stock options did Kevin Gorman exercise?

He exercised 205,088 Non-Qualified Stock Options with an exercise price of $43.24 per share. These options were originally granted on February 6, 2017, vested in 48 equal monthly installments, and were scheduled to expire on February 6, 2027 before this exercise.

Were Kevin Gorman’s NBIX share sales made under a Rule 10b5-1 plan?

Yes. The filing states the disposition was effected by a broker under a Rule 10b5-1 trading plan adopted on February 17, 2026. It also notes issuer policy restricts him from amending or modifying any such 10b5-1 trading plan after its adoption.

How many NBIX shares does Kevin Gorman hold after these transactions?

After the reported transactions, he holds 511,293 Neurocrine common shares. The filing notes these shares are held by the Gorman and Blais Family Trust, and that he has voting and investment power over the trust’s holdings of the company’s stock.

How are Kevin Gorman’s NBIX holdings structured according to this Form 4?

The Form 4 explains that 511,293 outstanding Neurocrine shares are held by the Gorman and Blais Family Trust. It further states that Kevin Gorman has both voting and investment power over these trust-held shares, reflecting his control over that equity position.

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

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Accepted by SEC EDGAR 05/21/2026 - 05:49 PM EDT 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^*

GORMAN KEVIN CHARLES

(Last) (First) (Middle)

6027 EDGEWOOD BEND CT.

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
05/19/2026

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	05/19/2026		M		205,088	A	$43.24	756,381	D
Common Stock	05/19/2026		S(1)		245,088	D	$154.3318(2)	511,293(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	$43.24	05/19/2026		M			205,088	(4)	02/06/2027	Common Stock	205,088	$0	0	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 February 17, 2026. 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 $153.30 to $156.59. 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. 511,293 of the outstanding shares are held by the Gorman and Blais Family Trust, of which Dr. Gorman has voting and investment power.

4. The option was granted February 6, 2017 and vested in 48 equal monthly installments beginning March 6, 2017. These options were due to expire on February 6, 2027.

Remarks:

	/s/ Darin Lippoldt, Attorney-in-Fact	05/21/2026
	** 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)