PICKERING GRANT 4

What Happened

• Grant Pickering, CEO of Vaxcyte (PCVX), exercised stock options and sold a substantial block of shares on June 18, 2026. On that date he exercised 225 option shares (cost $1.79/share; $403) and had an additional 225-option-line reported as disposed at $0 (see notes). He sold 225 shares at $52.51, 22,236 shares at $52.50, and two separate lots of 1,000 shares at $52.50 each. The priced open‑market sales generated total proceeds of $1,284,205. In aggregate the filing shows dispositions totaling 24,686 shares (including the zero-dollar derivative disposition).

Key Details

• Transaction date: June 18, 2026.
• Sale prices: majority at $52.50; one 225-share lot at $52.51.
• Proceeds from market sales: $1,284,205 (from the priced sales).
• Options exercised: 225 shares acquired at $1.79 (total $403); a separate derivative line shows 225 shares disposed at $0.
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Footnotes: (F1) Sales effected under a Rule 10b5‑1 trading plan adopted March 3, 2026; (F2)/(F3) certain shares are held in trusts for the reporting person's son and daughter; (F4) option is fully vested and exercisable.
• Filing timeliness: Reported file date and transaction date are the same (no late filing indicated in the provided data).

Context

• This was mainly a sale of shares after option exercise (common for executives to exercise options and sell shares to cover costs/taxes or diversify). The presence of a 10b5‑1 plan means some or all sales were pre‑arranged. The separate derivative entry showing 225 shares disposed at $0 typically indicates a net settlement or share surrender related to the option exercise, but the filing’s notes do not provide further detail. As always, sales are routine insider activity and do not by themselves indicate company performance.