Norwalk Leslie V 4

What Happened

• Leslie V. Norwalk, a director of Neurocrine Biosciences (NBIX), had 1,659 restricted stock units (RSUs) convert into 1,659 shares of common stock on May 21, 2026. The conversion was reported as an exercise/conversion of a derivative (transaction code M) at $0.00 — no cash was paid. The filing shows the derivative position was both acquired (shares received) and disposed (the derivative instrument ceased) as part of the conversion.

Key Details

• Transaction date: 2026-05-21; Transaction code: M (exercise/conversion of derivative)
• Shares involved: 1,659 shares acquired via conversion; corresponding 1,659 derivative units disposed
• Price: $0.00 per share (RSU settlement, not a market purchase)
• Shares owned after transaction: not specified in this Form 4 filing
• Footnotes: F1 — each RSU converts to one common share on vesting; F2 — the RSU award was granted on 2025-05-21 and was fully vested at conversion
• Filing timeliness: Reported on the same date (timely); no 10b5‑1 or tax‑withholding sale reported here

Context

• This was a routine equity‑compensation settlement (vested RSUs converting into shares), not a market purchase or sale. Because no shares were sold as part of this filing, it does not indicate a cash‑raising transaction or an expressed buy/sell intent by the director. Purchases by insiders tend to be more informative for bullish signals; conversions of vested RSUs are common compensation events.