Neurocrine (NBIX) Director Leslie Norwalk Sells Shares

What Happened

• Leslie V. Norwalk, a director of Neurocrine Biosciences (NBIX), sold 1,250 shares in an open-market transaction on July 28, 2026 at a weighted average price of $182.01 for proceeds of $227,508.
• On July 29, 2026, Norwalk exercised stock options to acquire 842 shares at an exercise price of $139.43, costing about $117,400. The filing also reports a related derivative disposition of 842 units at $0 (reflecting the option instrument being settled/converted).

Key Details

• Sale: 1,250 shares on 2026-07-28, weighted avg price $182.01 (range $182.00–$182.03) — total proceeds $227,508. (F2)
• Exercise: 842 shares on 2026-07-29 via option exercise at $139.43 — total $117,400. (M)
• Derivative entry: 842 units reported disposed at $0 on 2026-07-29 (reflects cancellation/settlement of the option instrument).
• Plan/authorization: Sale was executed by a broker under a Rule 10b5-1 trading plan adopted Sept 15, 2025; the plan cannot be amended per issuer policy. (F1)
• Vesting: The option exercised vested in monthly installments beginning June 22, 2024. (F3)
• Filing: Report filed July 30, 2026 covering activity on July 28–29, 2026. The provided excerpt does not indicate a late filing flag.
• Shares owned after the transactions are not disclosed in the excerpt provided.

Context

• The July 28 sale was executed under a pre-established 10b5-1 plan, which is commonly used to automate routine sales and reduce timing concerns; such sales are often considered routine rather than a clear market signal.
• The July 29 entries reflect an option exercise (acquiring shares by paying the strike). The reported derivative disposal at $0 is an administrative reporting entry showing the option ceased on exercise; the filing does not show those exercised shares being sold for market proceeds.