Torley Helen 4

What Happened
Helen Torley, President and CEO of Halozyme Therapeutics (HALO), exercised a total of 50,000 stock options (code M) at a $12.07 exercise price (cost ≈ $603,500) and sold the 50,000 resulting common shares in multiple open‑market transactions on May 11–13, 2026. The shares were sold for total gross proceeds of approximately $3,433,874 (sales prices ranged roughly from $64.03 to $73.77 per share). These exercises and sales were executed under a written Rule 10b5‑1 trading plan.

Key Details

• Transaction dates: May 11–13, 2026.
• Options exercised: 50,000 shares (20,000 on 5/11, 20,000 on 5/12, 10,000 on 5/13) at $12.07 each (total exercise cost ≈ $603,500).
• Shares sold: 50,000 shares across multiple trades (total proceeds ≈ $3,433,874).
• Net cash before taxes/fees (proceeds minus exercise cost): roughly $2.83M.
• Price range: sales reported between about $64.03 and $73.77 per share; grouped weighted averages and exact per‑trade prices are provided in the filing footnotes.
• Footnotes: sales were made pursuant to a 10b5‑1 plan adopted March 21, 2025; the exercised options had a ten‑year term expiring February 2027. (See footnotes F1 and F13.)
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: Report filed May 13, 2026 for transactions through May 11–13, 2026; filing appears timely (no late‑filing flag shown).

Context

• Code M indicates option exercise; because the newly acquired shares were sold immediately, this functions like a cashless exercise (exercise + simultaneous open‑market sales).
• The sales were executed under a pre‑arranged 10b5‑1 plan, which is commonly used to automate insider trades and reduce questions about trading on nonpublic information.
• These transactions are factual disclosures of insider activity; they do not by themselves indicate the insider's future view of the company.