Patil Neena M 4

What Happened
Neena M. Patil, EVP and Chief Legal Officer of Jazz Pharmaceuticals, exercised stock options and sold common shares on February 26, 2026. She exercised a total of 51,000 option shares (two strike prices: $113.10 and $137.12) for aggregate exercise cost of about $6.49M and received 10,079 restricted stock units (RSUs). In multiple open-market transactions the same day she sold 55,600 shares for total proceeds of approximately $10.65M — producing roughly $4.16M in proceeds after accounting for the exercise costs.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (filed within the standard two business-day window).
• Options exercised (code M): 51,000 shares at $113.10 and $137.12 (total exercise cost ≈ $6.49M).
• Open-market sales (code S): 55,600 shares sold in multiple trades for total proceeds ≈ $10.65M (weighted-average prices reported; per-footnotes sale prices ranged roughly $189.39–$193.84).
• Award/grant (code A): 10,079 RSUs granted (vest beginning March 5, 2026 per footnote).
• Filing shows several derivative disposals reported at $0 (reported shares withheld/settled); such $0 entries commonly reflect share withholding to cover exercise costs or taxes.
• No 10b5-1 plan or late filing flag is disclosed in the provided excerpt.

Context
This was an exercise-and-sell sequence (often called a cashless exercise): the insider exercised options and sold shares the same day. Exercises followed by same-day sales are routine for option holders and typically reflect option liquidity or tax/covering actions rather than an outright directional market bet. The RSU grant is a separate compensation award subject to vesting (see footnote for schedule).