Neurocrine (NBIX) CMO Sanjay Keswani Receives Award

What Happened
Sanjay Chandru Keswani, Chief Medical Officer of Neurocrine Biosciences (NBIX), had 3,914 performance restricted stock units (PRSUs) vest on Sept 11, 2026 (value ≈ $611,445 at $156.22/share). To satisfy tax withholding obligations, 2,112 of those shares were withheld (reported as a disposition under code F) with a withholding value of $329,937; no shares were sold on the open market. Net shares issued to Keswani after withholding were 1,802 (net value ≈ $281,508).

Key Details

• Transaction date: 2026-09-11; Filing date: 2026-09-15 (Form 4 filed within reporting window).
• Awarded: 3,914 PRSUs (Code A) at $0.00 acquisition price; valuation based on reported market price $156.22.
• Tax withholding: 2,112 shares withheld (Code F) at $156.22 = $329,937; company withheld shares to cover taxes (no open-market sale).
• Net shares delivered: 1,802 shares (≈ $281,508).
• Footnotes: F1 — PRSUs vested after certification of performance metrics on Sept 11, 2026. F2 — Shares were withheld by the company to satisfy tax withholding; no shares were sold.
• Shares owned after transaction: not disclosed in the filing.

Context
This was a performance-based RSU vesting (not a purchase or open-market sale). The F-code disposition reflects tax withholding rather than a sale, so it does not indicate a cash exit by the insider. Such awards are routine compensation events tied to performance goals rather than direct signals of insider buying or selling intent.