Vaxcyte (PCVX) President/CFO Andrew Guggenhime Exercises Options, Sells Shares

What Happened Andrew Guggenhime, President and Chief Financial Officer of Vaxcyte, exercised stock options and sold shares on August 3, 2026. He exercised 10,000 options at $5.35 per share (cost $53,500) and disposed of 10,000 shares in two open-market transactions: 6,956 shares at a weighted-average $53.76 ($373,962) and 3,044 shares at a weighted-average $54.18 ($164,918), for total gross proceeds of approximately $538,880. The Form 4 also reports a derivative disposition of 10,000 shares at $0.00 consideration.

Key Details

• Transaction date: August 3, 2026; Form 4 filed August 5, 2026 (filed promptly).
• Options exercised: 10,000 shares at $5.35 (total cost $53,500). Option noted as fully vested and exercisable (F6).
• Shares sold: 6,956 @ weighted-average $53.76 (prices ranged $53.06–$54.05 per F3), and 3,044 @ weighted-average $54.18 (prices ranged $54.07–$54.44 per F4); total proceeds ≈ $538,880.
• Derivative disposition: 10,000 shares reported disposed at $0.00 consideration (reported as a derivative transaction).
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes: the sales were effected under a Rule 10b5-1 trading plan adopted March 4, 2026 (F2); 781 shares acquired earlier via the company ESPP on May 15, 2026 are included in holdings (F1); some shares are held via ALG 2025 GRAT HOLDINGS LLC (F5).

Context

• This sequence (exercise + immediate sale of the same number of shares) is commonly a cashless exercise or sale-to-cover pattern—i.e., the exercised shares were sold the same day—though the filing does not state motives.
• The reported sale was executed under a 10b5-1 plan, which typically governs pre-set sales and is considered routine compliance trading rather than an ad hoc market-timing decision.
• The derivative disposition at $0.00 is reported as such on the Form 4; the filing provides no further explanation of the $0 consideration.