Klinger Shannon Thyme 4
4 · Moderna, Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Moderna (MRNA) CLO Shannon Klinger Exercises Options, Sells 13,885 Shares
What Happened
Shannon Thyme Klinger, Moderna’s Chief Legal Officer, exercised stock options and sold shares. On 2026-03-02 she exercised 13,885 option shares at $30.96 per share (cost $429,880) and immediately sold those 13,885 shares in the open market at $52.29 per share for proceeds of $726,047 (pre-tax profit ≈ $296,167). On 2026-02-27 a number of derivative conversions/vests occurred (233; 329; 774; 8,663 shares) and 4,837 shares were surrendered/withheld to satisfy tax withholding obligations at $51.71 per share (proceeds/value ≈ $250,121). On 2026-03-01 Klinger received awards/RSU grants of 29,275 and 38,553 shares (reported as derivative awards).
Key Details
- Primary sale/exercise: 2026-03-02 — exercised 13,885 shares @ $30.96 (cost $429,880) and sold 13,885 shares @ $52.29 for $726,047. The sale was effected under a Rule 10b5-1 trading plan adopted Sept 9, 2025 (per filing).
- Tax withholding: 2026-02-27 — 4,837 shares were used to cover tax obligations at $51.71 (value ≈ $250,121). Other small vest/conversion amounts (233; 329; 774; 8,663) appear as derivative conversions.
- Awards: 2026-03-01 — RSU/award acquisitions of 29,275 and 38,553 shares (reported as derivative grants; vesting schedules noted in footnotes).
- Transaction codes: M = option exercise/conversion, S = open-market sale, F = shares withheld for tax withholding, A = grant/award.
- Shares owned after the reported transactions are not specified in the provided excerpt.
- Filing timeliness: Report filed 2026-03-03 for transactions through 2026-03-02 — appears timely (not flagged as late).
- Notable footnotes: RSUs convert 1-for-1 (F1); withheld shares represent tax withholding election (F2); 03-02 sale executed under a 10b5-1 plan (F3); multiple grants/options include standard multi-quarter vesting schedules (F4–F9).
Context
This was effectively a exercise-and-sell (cashless) transaction for the 13,885-option block: Klinger paid the exercise cost and immediately sold the resulting shares under a pre-established 10b5-1 plan, realizing gross proceeds of $726K and a spread (sale minus exercise cost) of about $296K. The tax-related disposals on 02-27 reflect share withholding to satisfy tax liabilities from vesting/conversion events rather than opportunistic open-market sales. The new RSU grants reported on 03-01 are subject to future vesting per the footnotes and do not represent immediate cash transactions.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-27+233→ 54,760 total - Tax Payment
Common Stock
[F2]2026-02-27$51.71/sh−113$5,843→ 54,647 total - Exercise/Conversion
Common Stock
[F1]2026-02-27+329→ 54,976 total - Tax Payment
Common Stock
[F2]2026-02-27$51.71/sh−160$8,274→ 54,816 total - Exercise/Conversion
Common Stock
[F1]2026-02-27+774→ 55,590 total - Tax Payment
Common Stock
[F2]2026-02-27$51.71/sh−375$19,391→ 55,215 total - Exercise/Conversion
Common Stock
[F1]2026-02-27+8,663→ 63,878 total - Tax Payment
Common Stock
[F2]2026-02-27$51.71/sh−4,189$216,613→ 59,689 total - Exercise/Conversion
Common Stock
[F3]2026-03-02$30.96/sh+13,885$429,880→ 73,574 total - Sale
Common Stock
[F3]2026-03-02$52.29/sh−13,885$726,047→ 59,689 total - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-02-27−233→ 0 total→ Common Stock (233 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5]2026-02-27−329→ 1,315 total→ Common Stock (329 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F6]2026-02-27−774→ 6,189 total→ Common Stock (774 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F7]2026-02-27−8,663→ 25,992 total→ Common Stock (8,663 underlying) - Award
Stock Option (Right to Buy)
[F8]2026-03-01+29,275→ 29,275 totalExercise: $53.57From: 2027-03-01Exp: 2036-03-01→ Common Stock (29,275 underlying) - Award
Restricted Stock Units
[F1][F9]2026-03-01+38,553→ 38,553 total→ Common Stock (38,553 underlying) - Exercise/Conversion
Stock Option (Right to Buy)
[F3][F10]2026-03-02−13,885→ 41,658 totalExercise: $30.96From: 2026-03-01Exp: 2035-03-01→ Common Stock (13,885 underlying)
Footnotes (10)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F10]25% of this option vested and became exercisable on March 1, 2026 with the remainder vesting in twelve (12) equal quarterly installments thereafter.
- [F2]Represents shares withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the vest of restricted stock units.
- [F3]The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on September 9, 2025.
- [F4]25% of the shares subject to this restricted stock unit award vested on March 1, 2023 with the remainder vesting in twelve (12) equal quarterly installments thereafter.
- [F5]25% of the shares subject to this restricted stock unit award vested on February 28, 2024 with the remainder vesting in twelve (12) equal quarterly installments thereafter.
- [F6]25% of the shares subject to this restricted stock unit award vested on February 27, 2025 with the remainder vesting in twelve (12) equal quarterly installments thereafter.
- [F7]25% of the shares subject to this restricted stock unit award vested on March 1, 2026 with the remainder vesting in twelve (12) equal quarterly installments thereafter.
- [F8]25% of this option will vest and become exercisable on March 1, 2027 with the remainder vesting in twelve (12) equal quarterly installments thereafter.
- [F9]25% of the shares subject to this restricted stock unit award will vest on March 1, 2027 with the remainder vesting in twelve (12) equal quarterly installments thereafter.