PTC Therapeutics director sells 20,000 shares
Director-associated entity sold 20,000 PTCT shares under a pre-arranged Rule 10b5-1 trading plan, while the director continues to hold a significant direct share position.
Rhea-AI Filing Summary
PTC THERAPEUTICS, INC. (PTCT) director Michael Schmertzler reported the indirect sale of 20,000 shares of common stock on September 16–17, 2026 through Section Six Partners, L.P., an entity of which he is a general and limited partner. The trades were executed under a Rule 10b5-1 plan adopted by Section Six Partners, L.P. on May 14, 2026, at weighted-average prices ranging from $65.99 to $68.84 per share in multiple transactions. Schmertzler disclaims beneficial ownership of the partnership-held shares except to the extent of his pecuniary interest, and separately reports 163,266 shares of PTCT common stock held directly.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
5 txns
Insider
SCHMERTZLER MICHAEL
Role
Director
Sold
20,000 shs ($1.35M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1, F5, F3 | 9,624 | $67.83 | $653K |
| Sale | Common Stock F1, F6 | 376 | $68.45 | $26K |
| Sale | Common Stock F1, F2, F3 | 2,994 | $66.58 | $199K |
| Sale | Common Stock F1, F4, F3 | 7,006 | $67.35 | $472K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,296,594 shares (Indirect, See footnote);
Common Stock — 163,266 shares (Direct)
Footnotes (6)
- F1. This transaction was effected pursuant to a written Rule 10b5-1 plan adopted by Section Six Partners, L.P., of which the Reporting Person is a general partner and limited partner, on May 14, 2026.
- F2. This price represents the weighted average price of sale transactions that were executed in multiple trades at prices ranging from $65.99 to $66.96 per share. The Reporting Person hereby undertakes, upon request by the SEC staff, the issuer or a security holder of the issuer, to provide full information regarding the number of shares sold at each separate price.
- F3. Represents shares of common stock held by Section Six Partners, L.P. The Reporting Person is a general and limited partner of Section Six Partners, L.P. The Reporting Person disclaims beneficial ownership of the shares of common stock held by Section Six Partners, L.P. except to the extent of his pecuniary interest therein.
- F4. This price represents the weighted average price of sale transactions that were executed in multiple trades at prices ranging from $66.99 to $67.72 per share. The Reporting Person hereby undertakes, upon request by the SEC staff, the issuer or a security holder of the issuer, to provide full information regarding the number of shares sold at each separate price.
- F5. This price represents the weighted average price of sale transactions that were executed in multiple trades at prices ranging from $67.27 to $68.10 per share. The Reporting Person hereby undertakes, upon request by the SEC staff, the issuer or a security holder of the issuer, to provide full information regarding the number of shares sold at each separate price.
- F6. This price represents the weighted average price of sale transactions that were executed in multiple trades at prices ranging from $68.35 to $68.84 per share. The Reporting Person hereby undertakes, upon request by the SEC staff, the issuer or a security holder of the issuer, to provide full information regarding the number of shares sold at each separate price.
Key Figures
Shares sold (indirect, total): 20,000 shares
Shares sold on September 16, 2026: 10,000 shares
Shares sold on September 17, 2026: 10,000 shares
+4 more
7 metrics
Shares sold (indirect, total)
20,000 shares
Common stock sales by Section Six Partners, L.P. on September 16–17, 2026
Shares sold on September 16, 2026
10,000 shares
Common stock sales associated with the director
Shares sold on September 17, 2026
10,000 shares
Common stock sales associated with the director
Trading price range
$65.99–$68.84 per share
Weighted-average sale price ranges across multiple trades
Direct holdings after transactions
163,266 shares
Common stock held directly by Michael Schmertzler as of September 16, 2026
Rule 10b5-1 plan adoption date
May 14, 2026
Plan adopted by Section Six Partners, L.P. governing the reported sales
Number of sale transactions
4 transactions
Non-derivative sales of common stock reported in this Form 4
Key Terms
Rule 10b5-1 plan, weighted average price, beneficial ownership, pecuniary interest
4 terms
Rule 10b5-1 plan regulatory
"This transaction was effected pursuant to a written Rule 10b5-1 plan"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
weighted average price financial
"This price represents the weighted average price of sale transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of the shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did PTCT report for director Michael Schmertzler?
The filing reports that an entity associated with director Michael Schmertzler, Section Six Partners, L.P., sold 20,000 shares of PTC Therapeutics common stock on September 16–17, 2026, in open-market or private transactions at weighted-average prices between $65.99 and $68.84 per share.
Were the PTCT insider sales made under a Rule 10b5-1 plan?
Yes. The sales were effected pursuant to a written Rule 10b5-1 plan adopted by Section Six Partners, L.P. on May 14, 2026, as disclosed in the footnotes and affirmed by the Rule 10b5-1 checkbox.
What price range did the PTCT insider sales occur at?
The reported transactions were executed at weighted-average prices within ranges from $65.99 to $68.84 per share. The footnotes state these averages reflect multiple trades at various prices within those ranges.
AI-generated analysis. How Rhea-AI works. Not financial advice.
