Regeneron (NASDAQ: REGN) director awarded stock units, options grants

Rhea-AI Filing Summary

Regeneron Pharmaceuticals director Michael S. Brown reported new equity awards. On January 2, 2026, he received 155 time-based restricted stock units, each representing one share of Regeneron common stock, bringing his directly held common stock to 1,703 shares. He was also granted a non-qualified stock option for 1,962 shares with an exercise price of $772.76 per share, expiring on January 2, 2036; a portion becomes exercisable on the date of the first annual shareholder meeting after the grant, with the remainder on the first anniversary of the grant date.

In addition, the filing lists 5,000 shares held indirectly by a SLAT and 6,162 shares held indirectly by a trust. The trust is for the benefit of Brown’s immediate family, his spouse is trustee, and he disclaims beneficial ownership of those trust-held securities.

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

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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^*

BROWN MICHAEL S

(Last) (First) (Middle)

777 OLD SAW MILL RIVER ROAD

(Street)

TARRYTOWN NY 10591

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
REGENERON PHARMACEUTICALS, INC. [ REGN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

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	01/02/2026		A(1)		155	A	$0.0	1,703	D
Common Stock								5,000	I	by SLAT(2)
Common Stock								6,162	I	by Trust

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 (right to buy)	$772.76	01/02/2026		A		1,962		(3)	01/02/2036	Common Stock	1,962	$0.0	1,962	D

Explanation of Responses:

1. Reflects an acquisition of time-based vesting restricted stock units each representing a contingent right to receive one share of the Issuer's common stock.

2. These shares are held in a trust for the benefit of the reporting person's immediate family members. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

3. On the date of the Issuer's first annual meeting of shareholders following the date of grant, a portion of these stock options equal to the portion of one year that has passed from the date of grant shall then become exercisable, and the remainder shall become exercisable on the first anniversary of the date of grant.

	/s/ Michael S. Brown	01/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Regeneron (REGN) report for Michael S. Brown?

The Form 4 reports that director Michael S. Brown received 155 time-based restricted stock units of Regeneron common stock and a non-qualified stock option for 1,962 shares on January 2, 2026.

How many Regeneron (REGN) shares does Michael S. Brown hold directly after this filing?

After the reported transaction, Michael S. Brown beneficially owns 1,703 shares of Regeneron common stock directly, according to the Form 4.

What are the terms of Michael S. Brown’s new Regeneron (REGN) stock options?

Brown received a non-qualified stock option for 1,962 shares of Regeneron common stock with an exercise price of $772.76 per share, expiring on January 2, 2036. A portion becomes exercisable on the date of the first annual shareholder meeting after grant, and the balance on the first anniversary of the grant date.

What do the 155 Regeneron (REGN) shares acquired by Michael S. Brown represent?

The 155 shares reflect an acquisition of time-based vesting restricted stock units, each representing a contingent right to receive one share of Regeneron common stock.

What indirect Regeneron (REGN) holdings related to Michael S. Brown are disclosed?

The Form 4 lists 5,000 shares of common stock held indirectly by a SLAT and 6,162 shares held indirectly by a trust. The trust is for the benefit of his immediate family, with his spouse as trustee.

Does Michael S. Brown claim beneficial ownership of all indirect Regeneron (REGN) shares?

No. For the trust-held shares, the filing states that Brown disclaims beneficial ownership and that the report is not an admission that he is the beneficial owner for Section 16 or any other purpose.