Boulding Mark Elliott 4

What Happened

• Mark Elliott Boulding, Executive Vice President and Chief Legal Officer of PTC Therapeutics (PTCT), exercised stock options to acquire 10,522 shares (8,510 + 2,012) at $46.54 per share (total exercise cost ~$489,693) on June 17, 2026. On the same day he sold 10,462 shares in open-market transactions for aggregate proceeds of about $822,868. Net of the exercise cost, the transactions produced roughly $333,175 in proceeds before taxes, withholding and fees. The filing shows conversion/disposition entries for the derivatives related to the exercise.

Key Details

• Transaction date: June 17, 2026 (Form 4 filed June 22, 2026 — filing was late relative to the two-business-day requirement).
• Exercises: 8,510 shares @ $46.54 = $396,055; 2,012 shares @ $46.54 = $93,638.
• Open-market sales (weighted averages / ranges): 6,600 @ $78.50 = $518,100 (sales executed in $78.00–$78.99 range per footnote); 1,850 @ $79.24 = $146,594 ($79.00–$79.49 range); 1,703 @ $78.50 = $133,686 ($79.00–$79.48 range noted); 309 @ $79.25 = $24,488.
• Net effect: acquired 10,522 shares via option exercise and sold 10,462 shares — a net increase of 60 shares.
• Notable footnotes: sales were made pursuant to a written Rule 10b5-1 plan adopted Sept 10, 2025 (F1). Footnotes F2–F4 explain weighted-average sale prices and trade price ranges. F5 describes the option grant (Jan 3, 2025) and vesting schedule.
• Derivative entries at $0.00 reflect conversion/exercise reporting of the options (transaction code M).
• Filing timeliness: Report filed June 22 for June 17 transactions — appears to be late (Form 4 normally due within two business days).

Context

• This was an option exercise with immediate or near-immediate open-market sales of most of the acquired shares — effectively a cash-raising or tax-liability management move rather than a straightforward buy signal. The presence of a 10b5-1 plan indicates the sales were pre-arranged. As always, insider sales can be routine (diversification, tax withholding, option exercise) and should not be interpreted alone as a view on the company’s fundamentals.