Neurocrine (NBIX) CCO Eric Benevich Exercises Options, Sells Shares

What Happened

• Eric Benevich, Chief Commercial Officer of Neurocrine Biosciences (NBIX), exercised 3,194 stock options on September 9, 2026 at an exercise price of $43.24 per share (total cash paid: $138,109). On the same day he sold 2,154 shares in an open-market transaction at $154.61 per share for proceeds of $333,030.
• The filing also shows a reported disposition of 3,194 shares at $0 (a technical derivative reporting line related to the option exercise; see footnote F3).

Key Details

• Transaction date: September 9, 2026.
• Option exercise: 3,194 shares @ $43.24 = $138,109 (M code).
• Open-market sale: 2,154 shares @ $154.61 = $333,030 (S code). According to footnote F2, the sale was executed by a broker under a Rule 10b5-1 trading plan adopted June 10, 2026; the issuer’s policy prevents amending the plan after adoption.
• Report also includes a derivative disposition for 3,194 shares at $0 (see footnote F3 — option grant Feb 6, 2017; vested monthly; expired Feb 6, 2027).
• Footnote F1 notes the insider’s ownership includes 178 shares purchased via the company’s 2018 ESPP on Feb 27 and Aug 31, 2026.
• Filing date: September 10, 2026 (one day after the transaction date); not marked as late in the provided data.
• Shares owned after the transactions: Not specified in the supplied summary — see the full Form 4 for post-transaction beneficial ownership.

Context

• This was an exercise of previously granted options (grant date Feb 6, 2017; vesting schedule and impending Feb 6, 2027 expiration noted). He sold a portion of the shares acquired; the sale was executed under a pre-established 10b5-1 plan, which is a common mechanism that allows insiders to sell shares according to a preset schedule without further amendments. This sequence (exercise + partial sale) is often used to cover exercise costs or diversify, but the filing itself does not state intent.