Francis Richard D 4

What Happened

• Richard D. Francis, President and CEO of Teva Pharmaceutical Industries Ltd. (TEVA), had restricted stock units vest and converted to shares on March 4, 2026. He sold 23,393 shares in open-market transactions at a weighted average price of $32.46, generating $759,442. The filing also shows the conversion/exercise of 50,223 derivative units and a grant of 136,736 restricted share units on the same date.
• The sale was effected pursuant to a Rule 10b5-1 trading plan. The filing indicates additional shares were disposed at $0.00 (i.e., withheld/surrendered) in connection with tax withholding for the vested RSUs.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (timely).
• Sale: 23,393 shares sold, weighted-average price $32.46, total proceeds $759,442 (range of individual sale prices: $32.095–$33.30).
• Vesting/conversion: 50,223 RSUs converted/vested (reported as derivative exercise/conversion).
• Grant: 136,736 restricted share units granted on March 4, 2026 (new RSU award).
• Tax withholding: Filing shows shares disposed at $0.00 and a sale to cover tax obligations (footnote indicates shares were sold to cover taxes).
• 10b5-1 plan: Transactions were made pursuant to a pre-established Rule 10b5-1 trading plan.
• Shares owned after the transactions: not specified in the provided filing details.

Context

• These transactions reflect routine compensation vesting and associated tax-handling rather than an open-market investment bet. The RSU conversion and immediate partial sale/withholding to cover taxes is common: vested RSUs convert to shares, then some shares are sold or withheld to satisfy tax obligations.
• The large RSU grant (136,736 units) vests over future years (footnotes describe scheduled vesting for portions in 2027–2030), so the grant is long-term compensation rather than an immediate cash purchase.