Zoghbi Huda Y 4

What Happened

• Director Huda Y. Zoghbi exercised 1,638 stock options on Feb 19, 2026 at a strike of $376.69 per share (total cost $617,018). On the same day she sold multiple blocks of Regeneron (REGN) shares in open-market transactions, generating approximately $1,279,812 in proceeds.
• Transaction codes: M = option exercise (acquired shares), S = open-market sale (disposed). The exercise and same-day sales are often structured to cover exercise cost and taxes, but this summary only reports the facts.

Key Details

• Transaction date: February 19, 2026; Form 4 filed February 23, 2026 (timely within the 2-business-day window).
• Exercise: 1,638 shares @ $376.69 = $617,018 (reported as acquisition).
• Sales: multiple sales totaling ~1,279,812; sale prices ranged roughly from $774.68 to $790.00 (see footnotes for volume-weighted ranges per block).
• Footnotes of note:
  • F1: Dispositions made pursuant to a Rule 10b5-1 trading plan adopted Nov 20, 2025.
  • F10: The option vested in three equal annual installments beginning one year after grant.
  • F2–F9: Provide VWAP ranges and note the reporting person will provide per-price breakdowns on request.
• Shares owned after the transactions are not provided in the excerpt of the filing.

Context

• This was an option exercise (derivative conversion) followed by open-market sales the same day. When exercised shares are sold immediately, it functionally resembles a cashless exercise—proceeds often cover strike price and taxes—but this report only confirms the exercise and sales, not the insider’s intent.
• Sales executed under a 10b5-1 plan are pre-arranged trades intended to avoid opportunistic timing; such plans are common for directors and officers and do not by themselves indicate a change in sentiment.