Revolution Medicines (RVMD) COO trades options, sells 93,575 shares under 10b5-1
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Revolution Medicines, Inc. Chief Operating Officer Margaret A. Horn reported a mix of option exercises and stock sales. On June 15 and June 17, 2026, she exercised stock options covering a total of 90,000 shares of common stock at exercise prices of $26.50, $29.80, and $40.74 per share.
Across June 15 and June 17, 2026 and June 16, 2025, she sold 93,575 shares of common stock in open-market transactions at weighted average prices around $156–$160 per share. Footnotes state that the 2026 transactions were effected under a Rule 10b5-1 trading plan and that an earlier Rule 10b5-1 instruction letter addressed tax withholding obligations on RSU vesting.
After these transactions, Horn continues to hold a significant direct equity position, including restricted stock units noted in the footnotes.
Positive
- None.
Negative
- None.
Insights
Routine option exercises and pre-planned sales by COO under 10b5-1 arrangements.
COO Margaret A. Horn exercised stock options for 90,000 shares of Revolution Medicines common stock at exercise prices of $26.50, $29.80, and $40.74. She then reported open-market sales totaling 93,575 shares at weighted average prices near $156–$160 per share.
Footnotes specify that the 2026 sales were made under a Rule 10b5-1 trading plan adopted on March 12, 2026. A separate Rule 10b5-1 instruction letter from May 31, 2023 addresses sales to satisfy tax withholding obligations upon RSU vesting after July 15, 2023, indicating some activity is driven by tax and pre-planned liquidity rather than discretionary market timing.
The filing shows continued direct ownership, including RSUs referenced in the footnotes, and an empty derivativeSummary, meaning the options covered in this report were fully exercised. As a result, these transactions appear to be routine equity compensation management rather than a thesis-changing signal for investors.
Insider Trade Summary 10b5-1
Net Seller: 93,575 shares ($14,972,110)
Net Sell
13 txns
Insider
Horn Margaret A
Role
Chief Operating Officer
Sold
93,575 shs ($14.97M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 573 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 3,302 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 25,725 | $0.00 | -- |
| Exercise | Common Stock | 573 | $40.74 | $23K |
| Exercise | Common Stock | 3,302 | $29.80 | $98K |
| Exercise | Common Stock | 25,725 | $26.50 | $682K |
| Sale | Common Stock | 29,600 | $160.1243 | $4.74M |
| Exercise | Stock Option (Right to Buy) | 15,546 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 44,854 | $0.00 | -- |
| Exercise | Common Stock | 15,546 | $40.74 | $633K |
| Exercise | Common Stock | 44,854 | $29.80 | $1.34M |
| Sale | Common Stock | 60,400 | $160.1706 | $9.67M |
| Sale | Common Stock | 3,575 | $156.1193 | $558K |
Holdings After Transaction:
Stock Option (Right to Buy) — 75,075 shares (Direct, null);
Common Stock — 155,220 shares (Direct, null)
Footnotes (1)
- Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on March 12, 2026. Includes 73,050 restricted stock units ("RSUs"). This transaction was executed in multiple trades in prices ranging from $160.00 to $160.3550, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. Transaction made pursuant to a Rule 10b5-1 instruction letter adopted on May 31, 2023 to satisfy the Reporting Person's tax withholding obligation upon the vesting of RSUs after July 15, 2023. This transaction was executed in multiple trades in prices ranging from $156.1105 to $156.8250, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. Includes 66,201 RSUs. This transaction was executed in multiple trades in prices ranging from $160.00 to $160.48, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. One forty-eighth (1/48th) of the shares initially subject to the option will vest on each monthly anniversary measured from March 1, 2025 (the "Vesting Commencement Date"), so that 100% of the shares subject to the option will be fully vested and exercisable as of the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service through each vesting date. One forty-eighth (1/48th) of the shares initially subject to the option will vest on each monthly anniversary measured from March 1, 2024 (the "Vesting Commencement Date"), so that 100% of the shares subject to the option will be fully vested and exercisable as of the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service through each vesting date. One forty-eighth (1/48th) of the shares initially subject to the option will vest on each monthly anniversary measured from March 1, 2023 (the "Vesting Commencement Date"), so that 100% of the shares subject to the option will be fully vested and exercisable as of the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service through each vesting date.
Key Figures
Shares sold June 17, 2026: 29,600 shares at $160.1243
Shares sold June 15, 2026: 60,400 shares at $160.1706
Shares sold June 16, 2025: 3,575 shares at $156.1193
+5 more
8 metrics
Shares sold June 17, 2026
29,600 shares at $160.1243
Open-market common stock sale
Shares sold June 15, 2026
60,400 shares at $160.1706
Open-market common stock sale
Shares sold June 16, 2025
3,575 shares at $156.1193
Open-market common stock sale
Total shares sold
93,575 shares
Net reported sales across all S-code trades
Options exercised
90,000 shares
Aggregate M-code derivative exercises
Option strike prices
$26.50, $29.80, $40.74
Exercise prices for stock options converted to common
Shares held after 2025 sale
154,647 shares
Direct common stock ownership following June 16, 2025 sale
RSUs included
73,050 RSUs
Restricted stock units noted as part of holdings in footnote
Key Terms
Rule 10b5-1 trading plan, restricted stock units ("RSUs"), Stock Option (Right to Buy), vesting, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on March 12, 2026."
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.
restricted stock units ("RSUs") financial
"Includes 73,050 restricted stock units ("RSUs")."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Stock Option (Right to Buy) financial
"security_title: "Stock Option (Right to Buy)""
vesting financial
"upon the vesting of RSUs after July 15, 2023."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
exercise price financial
"conversion_or_exercise_price: "26.5000""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
Vesting Commencement Date financial
"measured from March 1, 2025 (the "Vesting Commencement Date"), so that 100% of the shares"
The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.
FAQ
What insider transactions did RVMD COO Margaret Horn report in this Form 4?
Margaret Horn reported exercising stock options for 90,000 shares and selling 93,575 shares of Revolution Medicines common stock. The sales occurred at weighted average prices around $156–$160 per share, reflecting equity compensation activity combined with liquidity and tax-related transactions.
On what dates did RVMD COO Margaret Horn trade Revolution Medicines stock?
The Form 4 shows transactions on June 15, 2026, June 17, 2026, and June 16, 2025. These include both option exercises and open-market sales of common stock, providing a multi-year view of Horn’s reported equity compensation and related liquidity events.
Were Margaret Horn’s RVMD stock sales under a Rule 10b5-1 trading plan?
Yes. A footnote states that the 2026 transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on March 12, 2026. Another footnote references a 10b5-1 instruction letter from May 31, 2023, used to address RSU-related tax withholding obligations.
What option exercises by RVMD COO Margaret Horn are disclosed in this Form 4?
The filing shows Horn exercised stock options for 90,000 shares of Revolution Medicines common stock. The options had exercise prices of $26.50, $29.80, and $40.74 per share, with expirations extending to 2033, 2034, and 2035 as disclosed in the derivative entries.
Does the RVMD Form 4 say anything about Margaret Horn’s restricted stock units (RSUs)?
Yes. A footnote notes that her holdings include 73,050 restricted stock units, while another states 66,201 RSUs at a different time. These RSUs represent share-based awards that vest over time, contributing to her ongoing equity stake in Revolution Medicines.