ABERNETHY MATT 4

What Happened

• Matt Abernethy, CFO of Neurocrine Biosciences (NBIX), had equity awards vest and/or converted into common stock on Feb 12–13, 2026. The filing shows acquisitions (vesting/exercise) totaling 68,738 shares (various RSUs/PRSUs/derivative conversions at $0 exercise price reported).
• To satisfy tax withholding on the vesting/payout, 9,124 shares were withheld (reported as dispositions under code F) at per-share values of ~$123.10–$124.12, totaling $1,131,296. No open-market sale of shares was reported.

Key Details

• Transaction dates: Feb 12–13, 2026; Form 4 filed Feb 17, 2026 (appears timely given weekend/holiday).
• Acquired: 68,738 shares via exercises/conversions and grants (RSUs/PRSUs).
• Withheld for taxes (disposed): 9,124 shares; proceeds/value reported = $1,131,296 (prices reported ~$123.10–$124.12).
• Notable footnotes:
  • F1: Shares were withheld by the company to satisfy tax withholding — no shares sold on the open market.
  • F2: PRSUs granted May 19, 2023 vested and paid out at 125% of target after certification on Feb 13, 2026 (explains a large PRSU payout).
  • F4–F6, F8: Describe scheduled vesting for several RSU awards (some portions vest in future years).
• Shares owned after the transactions: not specified in the provided excerpt of the filing.

Context

• These entries reflect award vesting and derivative conversions (codes A = award/grant, M = exercise/conversion of a derivative), with tax withholding (code F) rather than an open-market sale. This is a routine corporate compensation event rather than a discretionary sale or purchase.
• For retail investors: tax-withholding dispositions are common with RSU/PRSUs vesting and do not necessarily indicate a change in the insider’s market view.