PICKERING GRANT 4

What Happened

• Grant Pickering, CEO of Vaxcyte (PCVX), disposed of 24,237 shares on June 26, 2026 in a series of open-market or private sale transactions. The individual lots reported prices between about $53.76 and $56.60 (per-footnote ranges), with per-lot reported proceeds totaling approximately $1,338,270.
• The filings list multiple sale lots (examples: 6,683 shares @ $54.27 for $362,720; 9,137 shares @ $55.27 for $504,956; 6,417 shares @ $56.12 for $360,128), and several smaller lots. These are sales (not purchases) and are generally considered routine disposition activity.

Key Details

• Transaction date: June 26, 2026 (filed the same day).
• Total sold: 24,237 shares for aggregate proceeds ≈ $1,338,270.
• Price details: reported as weighted-average prices by lot; recorded ranges across lots roughly $53.76–$56.60 (see footnotes for per-lot ranges).
• Ownership after transaction: not specified in the summary provided — see the Form 4 for total holdings after the sales.
• Notable footnotes: the sales were effected pursuant to a Rule 10b5-1 trading plan adopted March 3, 2026 (F1). Some shares are held in trusts for the Reporting Person’s children (F6, F10). Multiple footnotes note that per-lot prices are weighted averages and that the filer will provide full per-price breakdowns upon request.
• Timeliness: filing date matches transaction date (no late filing indicated in provided data).

Context

• These were sales under a Rule 10b5-1 plan, which allows pre-set transactions and is commonly used to avoid trading based on nonpublic information; such sales are typically considered routine and do not, by themselves, indicate management sentiment about the company.
• For investors, purchases by insiders are often viewed as stronger signals than routine planned sales; treat this as a disclosed liquidity event rather than an explicit endorsement or negative view.