AFEYAN NOUBAR 4
4 · Moderna, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Moderna (MRNA) Director Noubar Exercises Options, Sells 9,263 Shares
What Happened
Director Noubar (through Flagship entities) exercised 9,263 fully vested options on May 21, 2026 at a $19.15 strike, paying $177,386 to acquire the shares, and then sold those 9,263 shares in the open market at $46.84 for proceeds of $433,879. The filing shows the derivative was converted into shares (exercise) and those shares were promptly disposed.
Key Details
- Transaction date: 2026-05-21. Exercise price: $19.15; sale price: $46.84.
- Shares exercised: 9,263; cash paid to exercise: $177,386. Sale proceeds: $433,879.
- Transaction codes: M = option exercise; S = sale. The derivative entry shows $0 on disposition because the option was converted into shares.
- Options were fully vested and exercisable; they were set to expire Aug 10, 2026 (footnote).
- Securities were held and transacted by Flagship Pioneering / Flagship Fund IV entities; Noubar is the ultimate control person and disclaims direct beneficial ownership except to the extent of his pecuniary interest (see footnotes).
- Shares owned after the reported transactions: not specified in the filing.
- Filing timeliness: Report period 2026-05-21, filed 2026-05-22 (timely).
Context
This was an exercise paired with an immediate sale (a cashless-style transaction), which is typically liquidity-driven rather than a straightforward buy signal. The trade was executed by Flagship investment entities rather than as a direct personal purchase by the director; footnotes clarify the institutional ownership and pecuniary-interest disclaimers.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-05-21$19.15/sh+9,263$177,386→ 13,187 total(indirect: By LLC) - Sale
Common Stock
[F2]2026-05-21$46.84/sh−9,263$433,879→ 3,924 total(indirect: By LLC) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5][F2]2026-05-21−9,263→ 0 total(indirect: By LLC)Exercise: $19.15Exp: 2026-08-10→ Common Stock (9,263 underlying)
- 3,880,328(indirect: By Flagship Ventures Fund IV, L.P.)
Common Stock
[F3] - 747,897(indirect: By Flagship Ventures Fund IV-Rx, L.P.)
Common Stock
[F4] - 2,224,015
Common Stock
Footnotes (5)
- [F1]On May 21, 2026, Flagship Pioneering, LLC ("Flagship Pioneering") exercised options to purchase 9,263 shares of the Issuer's Common Stock at $19.15 per share, which options were set to expire on August 10, 2026.
- [F2]The securities are held directly by Flagship Pioneering. Flagship Pioneering is contractually obligated to transfer and/or remit the proceeds of any sale of shares to Flagship Fund IV, L.P. ("Flagship Fund IV"). The reporting person is the ultimate control person of Flagship Pioneering and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F3]The securities are held directly by Flagship Fund IV. Flagship Ventures Fund IV General Partner LLC ("Flagship Fund IV GP") is the general partner of Flagship Fund IV. The reporting person is the sole manager of Flagship Fund IV GP and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F4]The securities are held directly by Flagship Ventures Fund IV-Rx, L.P. ("Flagship Fund IV-Rx"). Flagship Fund IV GP is the general partner of Flagship Fund IV-Rx. The reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F5]The options were fully vested and exercisable.