TEVA Brian Savage (Interim CLO) Exercises Options and Sells Shares

What Happened

• Brian Savage, Interim Chief Legal Officer of Teva Pharmaceutical Industries (TEVA), exercised stock options to acquire 4,503 shares at $34.70 per share (cost ≈ $156,254) on September 18, 2026.
• That same day he sold a total of 7,342 shares in open-market transactions: 4,503 shares at $38.69 (≈ $174,221), 2,525 shares at $39.15 (≈ $98,841), and 314 shares at $38.70 (≈ $12,153). Combined open-market proceeds were roughly $285,215. The filing also reports a derivative disposition tied to the exercise (4,503 shares @ $34.70, $156,254).

Key Details

• Transaction date: September 18, 2026; Form 4 filed September 22, 2026 (within the two-business-day reporting window — timely).
• Exercise: 4,503 options exercised at $34.70 each (total cost ≈ $156,254).
• Sales: 7,342 shares sold that day for total proceeds ≈ $285,215 (individual prices shown above).
• Footnotes: F1 notes a weighted-average price for one sale series with execution prices ranging $39.14–$39.155; F2 shows the options were from a March 3, 2017 grant with staggered vesting through March 3, 2021.
• Shares owned after the transactions: not reported in the information provided in this summary.

Context

• This filing shows an option exercise followed by same-day sales of shares, consistent with exercises that are immediately sold (often done to cover exercise cost/taxes or to realize proceeds). The filing is factual and does not state Savage’s motivations.
• For retail investors, purchases often signal added insider conviction; same-day exercises followed by sales are more routine (liquidity/tax-driven) and reveal less about future company prospects.