Moderna (MRNA) CEO Stephane Bancel Exercises Options, Sells Shares

What Happened

• Stephane Bancel, CEO of Moderna, exercised stock options and sold shares. He exercised 751,715 shares in total (499,246 on 2026-08-05 and 252,469 on 2026-08-06) at an exercise price of $19.15, costing about $14.40M in aggregate ($9.56M + $4.83M).
• In connection with a cashless exercise / hold transaction, he sold 499,246 shares in multiple open‑market transactions on 2026-08-05 at weighted average prices ranging roughly from $55.58 to $59.34, generating about $28.72M in proceeds (sales shown individually: 147,473 @ $56.21 = $8.29M; 124,838 @ $56.96 = $7.11M; 39,891 @ $58.12 = $2.32M; 187,044 @ $58.79 = $10.996M).
• The filing also shows derivative-to-stock conversion entries recorded at $0.00 that correspond to the option exercises (these zero-price disposals total the 751,715 shares exercised).

Key Details

• Transaction dates: primary activity on 2026-08-05 and 2026-08-06; Form 4 filed 2026-08-07 (timely within Section 16 reporting window).
• Options exercised: 751,715 shares total at $19.15 (fully vested options scheduled to expire Aug 10, 2026).
• Shares sold (open market): 499,246 shares for about $28.72M in total (sold in multiple trades at weighted averages across specified price ranges).
• Footnotes: trades were effected pursuant to a Rule 10b5‑1 trading plan adopted May 4, 2026; 499,246 shares sold solely to cover exercise price, withholding taxes, and transaction costs, with remaining acquired shares retained. Other footnotes disclaim beneficial ownership for certain entity‑owned shares.
• Shares owned after the transactions are not specified in the text you provided.

Context

• This was an option exercise plus cashless sale arrangement (common when options near expiration). The sales were executed under a pre-established 10b5‑1 plan, which typically indicates the trades were pre-planned rather than ad hoc.
• For retail investors: exercises convert options into stock (not a direct purchase of new company shares) and the accompanying open‑market sales were used to cover exercise costs and taxes per the filing. Sales under a 10b5‑1 plan are often considered routine; they do not by themselves indicate a change in the insider’s view of the company.