Fox Christine 4

What Happened
Christine Fox, Executive Vice President, U.S. Commercial of Teva Pharmaceutical Industries (TEVA), had 17,819 restricted share units (RSUs) vest on March 5, 2026 and those RSUs converted into ordinary shares. On the same day she sold 7,924 of those shares in open-market transactions for a weighted average price of $31.67, generating $250,940 in proceeds. The vesting/conversion is reported as a derivative exercise/conversion (Form 4 code M); some shares were also used/withheld to satisfy tax-withholding obligations.

Key Details

• Transaction date (period of report): March 5, 2026; Form 4 filed March 9, 2026 (appears timely).
• Sale: 7,924 shares sold at a weighted average price of $31.67; total proceeds $250,940. Sales occurred at prices ranging $31.26–$32.34 (weighted avg reported).
• Vesting/conversion: 17,819 RSUs vested/converted into ordinary shares on March 5, 2026 (reported as derivative exercise/conversion).
• Tax withholding: Footnotes indicate shares were sold/withheld to cover tax withholding related to the RSU vesting.
• 10b5-1 plan: The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Fox on August 11, 2025.
• Shares owned after the reported transactions: not specified in the provided filing excerpt.

Context

• This appears to be a routine "sell to cover" tied to RSU vesting (conversion of restricted units into shares and sale of some to meet tax obligations), not an ad hoc open-market sale unrelated to compensation.
• Code M (exercise/conversion of a derivative/security) here reflects RSU settlement (no exercise price). The presence of a 10b5-1 plan means the sale followed a pre-established trading plan.