SHERWIN STEPHEN A 4
4 · NEUROCRINE BIOSCIENCES INC · Filed Jun 9, 2026
Research Summary
AI-generated summary of this filing
Neurocrine (NBIX) Director S. Sherwin Exercises Options, Sells 25,000 Shares
What Happened
- Director Stephen A. Sherwin exercised two stock option grants to acquire 25,000 shares (15,000 at $53.64 and 10,000 at $79.79) on 2026-06-05 (exercise cost $1,602,500). He then sold 25,000 shares in multiple open-market transactions the same day under a Rule 10b5-1 plan, generating aggregate proceeds of $4,132,969. The net proceeds before fees/taxes were roughly $2,530,469.
- These transactions are primarily sales (routine monetization after option exercise), not new purchases of company stock.
Key Details
- Transaction date: 2026-06-05; Form 4 filed 2026-06-09 (timely — filed within required business-day window).
- Exercises (acquisitions): 15,000 shares @ $53.64 = $804,600; 10,000 shares @ $79.79 = $797,900. (Total exercise cost = $1,602,500.)
- Open-market sales (dispositions): 25,000 shares sold in blocks at weighted-average prices ranging from $163.11 to $167.70; aggregated sales by block reported with weighted averages and totals (total proceeds = $4,132,969).
- Footnotes of note:
- F1: Sales were effected by a broker under a Rule 10b5-1 trading plan adopted March 6, 2026; plan cannot be amended per issuer policy.
- F2–F6: Weighted-average sale prices reported for multiple transaction price ranges; the filer can provide per-price breakdowns on request.
- F7, F8: Option grants referenced were from May 22, 2017 and May 22, 2019 with prior vesting schedules.
- Two derivative-disposition lines at $0 reflect termination of the option instruments upon exercise (standard reporting).
- Shares owned after the transactions: not specified in the provided excerpt of the filing (see the full Form 4 on SEC EDGAR for holdings after the trades).
Context
- For retail investors: this was an option exercise followed by immediate sale of the acquired shares (common practice to realize gains or cover exercise cost). Purchases are generally more informative about insider conviction; here the activity represents liquidity from option exercise rather than a new buy signal.
- The presence of a Rule 10b5-1 plan indicates the sales were pre-arranged and broker-executed, reducing the likelihood that the trades were opportunistic reactions to recent company news.
Insider Transaction Report
Form 4
SHERWIN STEPHEN A
Director
Transactions
- Exercise/Conversion
Common Stock
2026-06-05$53.64/sh+15,000$804,600→ 30,860 total - Exercise/Conversion
Common Stock
2026-06-05$79.79/sh+10,000$797,900→ 40,860 total - Sale
Common Stock
[F1][F2]2026-06-05$163.81/sh−7,883$1,291,291→ 32,977 total - Sale
Common Stock
[F1][F3]2026-06-05$164.44/sh−2,549$419,156→ 30,428 total - Sale
Common Stock
[F1][F4]2026-06-05$165.79/sh−6,896$1,143,306→ 23,532 total - Sale
Common Stock
[F1][F5]2026-06-05$166.56/sh−5,829$970,859→ 17,703 total - Sale
Common Stock
[F1][F6]2026-06-05$167.31/sh−1,843$308,357→ 15,860 total - Exercise/Conversion
Non-Qualified Stock Option
[F7]2026-06-05−15,000→ 0 totalExercise: $53.64Exp: 2027-05-22→ Common Stock (15,000 underlying) - Exercise/Conversion
Non-Qualified Stock Option
[F8]2026-06-05−10,000→ 0 totalExercise: $79.79Exp: 2029-05-22→ Common Stock (10,000 underlying)
Footnotes (8)
- [F1]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.
- [F2]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.
- [F3]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.
- [F4]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.
- [F5]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.
- [F6]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.
- [F7]The option was granted May 22, 2017 and vested in 12 equal monthly installments beginning June 22, 2017.
- [F8]The option was granted May 22, 2019 and vested in 12 equal monthly installments beginning June 22, 2019.
Signature
/s/ Darin Lippoldt, Attorney-in-Fact|2026-06-09