Francis Richard D 4

What Happened
Richard D. Francis, President and CEO of Teva Pharmaceutical Industries Ltd. (TEVA), sold 20,025 shares in an open-market transaction on March 5, 2026 for a total of $634,160 (weighted average price $31.67). On the same date 42,452 restricted share units vested (converted to ordinary shares), and 42,452 shares were surrendered/withheld to cover tax withholding obligations related to that vesting.

Key Details

• Transaction date(s): March 5, 2026; Form 4 filed March 9, 2026 (filed within the normal two-business-day Form 4 window).
• Open-market sale: 20,025 shares at a weighted average price of $31.67; total proceeds $634,160. Sales occurred at prices ranging from $31.26 to $32.34.
• Vesting/exercise: 42,452 restricted share units vested (recorded as an exercise/conversion of a derivative). 42,452 shares were disposed/withheld to satisfy tax withholding (no cash proceeds reported for the withheld shares).
• Plan/authorization: The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Francis on November 14, 2025.
• Footnotes: Each ordinary share may be represented by an American Depositary Share (ADS) that currently represents one ordinary share. The RSUs were part of a grant from March 5, 2025 with additional scheduled vesting through 2029.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context

• This was a routine combination of RSU vesting and an open-market sale. The withheld shares were used to cover tax withholding (a common, non-speculative administrative step). The sale itself was executed under a pre-established 10b5-1 plan, which typically sets predetermined parameters for sales and helps avoid questions about timing.
• For retail investors: purchases tend to be more informative than routine sales or tax-related withholdings. Here, the activity appears consistent with vesting/tax obligations and planned selling rather than a discretionary market-timing decision.