Klinger Shannon Thyme 4

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.