Neurocrine (NBIX) director exercises 25K options and sells 25K shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
NEUROCRINE BIOSCIENCES INC director Stephen A. Sherwin reported an exercise-and-sell Form 4 transaction in company common stock. On June 5, 2026, he exercised non-qualified stock options for a total of 25,000 shares of common stock at exercise prices of $79.79 and $53.64 per share. On the same date, he conducted open-market sales totaling 25,000 shares at weighted average prices ranging from about $163.81 to $167.31 per share, executed in multiple trades.
The filing notes that the dispositions were carried out by a broker under a pre-arranged Rule 10b5-1 trading plan adopted on March 6, 2026, and company policy restricts changes to such plans after adoption. Following these transactions, Sherwin directly holds 15,860 shares of Neurocrine Biosciences common stock, and the exercised options reported here no longer remain outstanding.
Positive
- None.
Negative
- None.
Insights
Director exercised 25,000 options and sold 25,000 shares under a 10b5-1 plan.
Director Stephen A. Sherwin exercised non-qualified stock options for 25,000 shares at strike prices of $79.79 and $53.64, then sold 25,000 shares of NEUROCRINE BIOSCIENCES INC common stock in open-market transactions on June 5, 2026. The sale prices were weighted averages between roughly $163.81 and $167.31 per share.
The filing states that the dispositions were executed by a broker pursuant to a Rule 10b5-1 trading plan adopted on March 6, 2026, and company policy limits plan modifications. That language indicates the timing of sales was pre-scheduled, so these transactions look like planned liquidity around option exercises rather than a sudden change in sentiment.
After the reported trades, Sherwin directly owns 15,860 shares of common stock, and the option positions exercised here no longer appear in the derivative holdings, as shown by the empty derivativeSummary. Overall, this appears to be a routine exercise-and-sell pattern with a neutral informational signal for investors.
Insider Trade Summary 10b5-1
Net Seller: 25,000 shares ($4,132,969)
Net Sell
9 txns
Insider
SHERWIN STEPHEN A
Role
null
Sold
25,000 shs ($4.13M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option | 15,000 | $0.00 | -- |
| Exercise | Non-Qualified Stock Option | 10,000 | $0.00 | -- |
| Exercise | Common Stock | 15,000 | $53.64 | $805K |
| Exercise | Common Stock | 10,000 | $79.79 | $798K |
| Sale | Common Stock | 7,883 | $163.807 | $1.29M |
| Sale | Common Stock | 2,549 | $164.4394 | $419K |
| Sale | Common Stock | 6,896 | $165.7926 | $1.14M |
| Sale | Common Stock | 5,829 | $166.5567 | $971K |
| Sale | Common Stock | 1,843 | $167.3128 | $308K |
Holdings After Transaction:
Non-Qualified Stock Option — 0 shares (Direct, null);
Common Stock — 30,860 shares (Direct, null)
Footnotes (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 March 6, 2026. Additionally, Issuer policy restricts the Reporting Person from amending or otherwise modifying any 10b5-1 trading plan subsequent to adoption of the plan. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $163.11 to $164.10. 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. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $164.11 to $164.83. 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. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $165.11 to $166.09. 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. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $166.11 to $167.09. 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. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $167.11 to $167.70. 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. The option was granted May 22, 2017 and vested in 12 equal monthly installments beginning June 22, 2017. The option was granted May 22, 2019 and vested in 12 equal monthly installments beginning June 22, 2019.
Key Figures
Shares sold: 25,000 shares
Sale price range: $163.11–$167.70/share
Options exercised: 25,000 shares
+4 more
7 metrics
Shares sold
25,000 shares
Open-market sales of common stock on June 5, 2026
Sale price range
$163.11–$167.70/share
Weighted average sale prices across multiple trades
Options exercised
25,000 shares
Non-qualified stock options converted to common stock
Option strike prices
$79.79 and $53.64/share
Exercise prices for 2017 and 2019 option grants
Post-transaction holdings
15,860 shares
Common stock directly owned after reported trades
10b5-1 plan adoption date
March 6, 2026
Date Sherwin adopted the trading plan used for sales
Option expiration dates
May 22, 2027 & May 22, 2029
Expiration for the exercised non-qualified stock options
Key Terms
Rule 10b5-1 trading plan, Non-Qualified Stock Option, weighted average sales price per share, derivative security, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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 underlying security title "Common Stock""
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.
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.
open-market sale financial
"transaction_action: "open-market sale" with transaction_code "S" for common stock"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What did NBIX director Stephen A. Sherwin report in this Form 4?
Stephen A. Sherwin reported exercising non-qualified stock options for 25,000 Neurocrine Biosciences shares and selling 25,000 common shares in open-market transactions on June 5, 2026, as part of an exercise-and-sell pattern disclosed in this Form 4 filing.
Were Stephen Sherwin’s NBIX stock sales under a Rule 10b5-1 trading plan?
Yes. A footnote states the disposition was effected by a broker under a Rule 10b5-1 trading plan adopted on March 6, 2026, and adds that company policy restricts Sherwin from amending or modifying any such plan after adoption, indicating pre-planned trading activity.
What stock options did Stephen Sherwin exercise in this NBIX Form 4?
Sherwin exercised two non-qualified stock option grants for 10,000 and 15,000 underlying NBIX shares. The options had exercise prices of $79.79 and $53.64 per share and were originally granted in May 2017 and May 2019 with vesting over 12 monthly installments.
Does Stephen Sherwin still hold the NBIX options exercised in this filing?
No. The options for 10,000 and 15,000 underlying shares were exercised and now show zero remaining balance. The derivative transaction entries list total shares following each option exercise as 0, and the derivativeSummary section is empty, indicating no remaining reported derivative position.