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  4. [Form 4] REGENERON PHARMACEUTICALS, INC. Insider Trading Activity

Small Rule 10b5-1 sale by Regeneron (REGN) director Arthur F. Ryan

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Regeneron Pharmaceuticals director Arthur F. Ryan sold 100 shares of Common Stock in open-market transactions. The sales occurred on April 1, 2026 at prices ranging from about $771.32 to $779.71, executed in multiple small tranches using volume-weighted average prices.

The filing states these dispositions were made under a pre-arranged trading plan intended to comply with Rule 10b5-1(c) adopted on October 31, 2025. Following the transactions, Ryan directly holds 17,603 Common Stock shares of Regeneron Pharmaceuticals, Inc.

Positive

  • None.

Negative

  • None.
Insider RYAN ARTHUR F
Role Director
Sold 100 shs ($78K)
Type Security Shares Price Value
Sale Common Stock 1 $771.32 $771.32
Sale Common Stock 3 $772.76 $2K
Sale Common Stock 8 $773.59 $6K
Sale Common Stock 8 $774.58 $6K
Sale Common Stock 14 $775.58 $11K
Sale Common Stock 13 $776.62 $10K
Sale Common Stock 9 $777.42 $7K
Sale Common Stock 4 $778.24 $3K
Sale Common Stock 40 $779.71 $31K
Holdings After Transaction: Common Stock — 17,702 shares (Direct)
Footnotes (1)
  1. Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on October 31, 2025. Represents volume-weighted average price of sales of 3 shares of Company stock on April 1, 2026 at prices ranging from $772.62 to $772.88. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 8 shares of Company stock on April 1, 2026 at prices ranging from $773.27 to $773.97. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 8 shares of Company stock on April 1, 2026 at prices ranging from $774.05 to $774.94. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 14 shares of Company stock on April 1, 2026 at prices ranging from $775.04 to $775.93. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 13 shares of Company stock on April 1, 2026 at prices ranging from $776.11 to $776.84. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 9 shares of Company stock on April 1, 2026 at prices ranging from $777.03 to $777.79. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 4 shares of Company stock on April 1, 2026 at prices ranging from $778.02 to $778.59. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price. Represents volume-weighted average price of sales of 40 shares of Company stock on April 1, 2026 at prices ranging from $779.65 to $779.76. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
Shares sold 100 shares Total Common Stock sold on April 1, 2026
Lowest reported sale price $771.32 per share Open-market Common Stock sale price on April 1, 2026
Highest reported sale price $779.71 per share Open-market Common Stock sale price on April 1, 2026
Post-transaction holdings 17,603 shares Common Stock directly held after April 1, 2026 trades
10b5-1 plan adoption date October 31, 2025 Date the Rule 10b5-1(c) trading plan was adopted
Rule 10b5-1(c) regulatory
"Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on October 31, 2025."
Rule 10b5-1(c) is an SEC guideline that lets company insiders set up a written, pre-planned schedule to buy or sell their company stock when they are not in possession of material, nonpublic information. For investors, it matters because such plans can reduce the appearance of insider trading by separating decisions from inside knowledge—like putting your trades on autopilot—while also requiring scrutiny since pre-planned trades can still affect market confidence and share value.
volume-weighted average price financial
"Represents volume-weighted average price of sales of 3 shares of Company stock on April 1, 2026..."
Volume-weighted average price (VWAP) is the average price of a stock over a specific time period where each trade is weighted by the number of shares traded, so larger trades influence the average more than small ones. Investors and traders use VWAP as a reference point to judge whether trades are happening at relatively good or poor prices—like checking the average price paid for an item at a market where bulk purchases count more than single-item buys.
open-market sale financial
"transaction_action: "open-market sale", transaction_code_description: "Sale in open market or private transaction""
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
RYAN ARTHUR F
(Last)(First)(Middle)
777 OLD SAW MILL RIVER ROAD
(Street)
TARRYTOWN NEW YORK 10591
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
REGENERON PHARMACEUTICALS, INC. [ REGN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock04/01/2026S(1)1D$771.3217,702D
Common Stock04/01/2026S(1)3D$772.76(2)17,699D
Common Stock04/01/2026S(1)8D$773.59(3)17,691D
Common Stock04/01/2026S(1)8D$774.58(4)17,683D
Common Stock04/01/2026S(1)14D$775.58(5)17,669D
Common Stock04/01/2026S(1)13D$776.62(6)17,656D
Common Stock04/01/2026S(1)9D$777.42(7)17,647D
Common Stock04/01/2026S(1)4D$778.24(8)17,643D
Common Stock04/01/2026S(1)40D$779.71(9)17,603D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on October 31, 2025.
2. Represents volume-weighted average price of sales of 3 shares of Company stock on April 1, 2026 at prices ranging from $772.62 to $772.88. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
3. Represents volume-weighted average price of sales of 8 shares of Company stock on April 1, 2026 at prices ranging from $773.27 to $773.97. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
4. Represents volume-weighted average price of sales of 8 shares of Company stock on April 1, 2026 at prices ranging from $774.05 to $774.94. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
5. Represents volume-weighted average price of sales of 14 shares of Company stock on April 1, 2026 at prices ranging from $775.04 to $775.93. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
6. Represents volume-weighted average price of sales of 13 shares of Company stock on April 1, 2026 at prices ranging from $776.11 to $776.84. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
7. Represents volume-weighted average price of sales of 9 shares of Company stock on April 1, 2026 at prices ranging from $777.03 to $777.79. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
8. Represents volume-weighted average price of sales of 4 shares of Company stock on April 1, 2026 at prices ranging from $778.02 to $778.59. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
9. Represents volume-weighted average price of sales of 40 shares of Company stock on April 1, 2026 at prices ranging from $779.65 to $779.76. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on April 1, 2026 at each separate price.
/s/ Arthur Ryan04/03/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Regeneron (REGN) report for Arthur F. Ryan?

Regeneron reported that director Arthur F. Ryan sold 100 shares of Common Stock in open-market transactions. The trades took place on April 1, 2026, and were broken into several small tranches with volume-weighted average prices around the high-$770 range.

At what prices did Arthur F. Ryan sell Regeneron (REGN) shares?

Arthur F. Ryan’s sales occurred at prices from $771.32 to $779.71 per share. Each line item reflects a volume-weighted average price for small share blocks, with underlying trades executed within narrow ranges around those reported averages.

How many Regeneron (REGN) shares does Arthur F. Ryan hold after the sale?

After these transactions, Arthur F. Ryan directly holds 17,603 shares of Regeneron Common Stock. This post-transaction figure comes from the Form 4 data and reflects his remaining direct ownership following the 100-share open-market sale.

Was the Regeneron (REGN) insider sale made under a Rule 10b5-1 plan?

Yes. A footnote states the disposition was made under a plan intended to comply with Rule 10b5-1(c), adopted on October 31, 2025. Such pre-arranged trading plans are designed to systematize sales and reduce concerns about trade timing.

How many total Regeneron (REGN) shares did Arthur F. Ryan sell in this Form 4?

The Form 4 transaction summary shows total sales of 100 shares of Regeneron Common Stock. These were reported as nine separate open-market sale entries on April 1, 2026, all classified as non-derivative transactions involving Common Stock.