Neurocrine (NBIX) CFO Matt Abernethy Receives Award, Sells Shares

What Happened

Matt Abernethy, Chief Financial Officer of Neurocrine Biosciences (NBIX), had 5,020 performance restricted stock units (PRSUs) vest on September 11, 2026 after certification of performance metrics. To satisfy tax withholding, 2,709 vested shares were withheld by the company (valued at $423,200). Separately, 2,311 vested shares were sold in the open market on September 14, 2026 for a weighted average price of $157.20, generating $363,285. Combined consideration related to the vested award is about $786,485.

Key Details

• Transaction dates: 9/11/2026 (award vesting; tax withholding), 9/14/2026 (open-market sale).
• Award: 5,020 PRSUs vested (F1).
• Tax withholding: 2,709 shares withheld to satisfy taxes; these were not sold on the open market (2,709 @ $156.22, $423,200) (F2).
• Open-market sale: 2,311 shares sold under a Rule 10b5-1 plan (adopted May 22, 2026) executed by a broker (2,311 @ weighted avg $157.20, $363,285) (F3, F4). Sales prices ranged $157.05–$157.43; issuer can provide breakdown on request (F4).
• Shares owned after the reported transactions: not stated in the provided filing details.
• Filing timing: Form filed 9/15/2026 for transactions on 9/11–9/14/2026 — this appears to be filed after the standard 2-business-day Form 4 window.

Context

• The 5,020 shares were PRSUs that vested when performance goals were certified (this is an award vesting, not a market purchase).
• Withholding shares to cover taxes is routine and does not entail an open-market sale for those withheld shares.
• The open-market sale was carried out under a pre-established 10b5-1 trading plan, meaning it was an automated/pre-arranged disposition rather than an ad-hoc sale decision.
• These transactions are standard insider-reporting items; they document an award vesting plus routine tax withholding and a planned sale rather than signaling a new investment decision.