IQVIA (IQV) CEO Ari Bousbib Exercises SARs and Sells Shares

What Happened
Ari Bousbib, Chairman, CEO & President of IQVIA, exercised 156,206 stock appreciation rights (SARs) on July 29, 2026 and immediately disposed of all 156,206 resulting shares. The SAR exercise is recorded at $78.21 per share (total intrinsic/exercise value $12,216,871). The resulting shares were sold in a series of open-market transactions and surrendered to the issuer, producing roughly $38.31 million in gross sale proceeds.

Key Details

• Date of transactions: July 29, 2026 (Form 4 filed July 31, 2026; filing appears timely).
• Exercise: 156,206 SARs exercised at $78.21 per share (F1) — total value shown $12,216,871.
• Dispositions: 156,206 shares disposed (sum of open-market sales and dispositions to issuer).
  • Open-market sales (106,279 shares) generated ~$26.09M (weighted-average prices; see F2–F4 for price ranges).
  • Dispositions to issuer (49,927 shares) generated ~$12.22M (F5).
• Total gross sale proceeds across S/D transactions: ≈ $38.31M.
• Shares held after the transactions: Not explicitly stated in the filing; some shares are held in the Orohena Trust (F6).
• Important footnotes: F1 = SARs expiring Feb 2, 2027; F2–F5 = weighted-average sale prices with given price ranges; F6 = shares held in Orohena Trust.
• Transaction codes: M = exercise/conversion of derivative (SAR); S = open-market sale; D = disposition to issuer.

Context

• This was a derivative exercise (SARs) that was settled with the resulting shares and those shares were immediately sold or surrendered (i.e., effectively a cashless/settlement trade). Such transactions often reflect routine executive compensation exercises and tax/settlement activity rather than an independent directional investment decision.