RIEDEL NORBERT G 4

What Happened Norbert G. Riedel, a director of Jazz Pharmaceuticals (JAZZ), exercised non-qualified stock options for 3,415 shares on 2026-02-27 at an exercise price of $138.08 per share (cost =~ $471,543) and then sold those 3,415 shares the same day in an open-market transaction at $192.00 per share (gross proceeds = $655,680). The filings show the derivative (the option) was converted/settled as part of this transaction. Net pre-tax proceeds from the sale were roughly $184,137.

Key Details

• Transaction date: February 27, 2026 (filed on March 2, 2026) — filing appears timely.
• Exercise: 3,415 shares @ $138.08 = $471,543 (code M).
• Sale: 3,415 shares @ $192.00 = $655,680 (code S).
• Derivative entry: 3,415 options converted/settled (reported as a $0 disposal for the derivative).
• Shares owned after the transactions: not specified in the provided filing details.
• Footnote: The options were a non-qualified stock option grant dated Aug 11, 2016 and were fully vested by Aug 1, 2017.

Context This was an option exercise followed by an immediate open-market sale (a cashless-style transaction). Such transactions are common for directors who exercise long-held vested options to realize gains; they should be viewed as routine insider liquidity rather than a clear signal of company outlook.