Delaet Ingrid 4

What Happened

• Ingrid Delaet, Chief Regulatory Officer of Neurocrine Biosciences (NBIX), exercised stock options to acquire 2,261 shares at an exercise price of $79.02 (cost $178,664) and immediately sold those 2,261 shares in the open market at $156.71 for gross proceeds of $354,321 on May 29, 2026. The exercise and sale occurred the same day, resulting in approximately $175,657 in gross proceeds over the exercise cost (before taxes and fees).

Key Details

• Transaction date: May 29, 2026.
• Exercise: 2,261 shares acquired at $79.02 (total cost $178,664). (Code M)
• Sale: 2,261 shares sold at $156.71 (total proceeds $354,321). (Code S)
• Reporting/filing: Form 4 filed June 2, 2026 (within the typical two-business-day filing window).
• Footnotes: The sale was effected by a broker under a Rule 10b5-1 trading plan adopted by Ms. Delaet on Feb 27, 2026; the issuer’s policy prevents amending that plan. The options were originally granted Jan 31, 2022 and vested in 48 equal monthly installments beginning Feb 28, 2022.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This was an option exercise followed by an immediate open-market sale (common, often handled under pre-established 10b5-1 plans to avoid timing issues). Such transactions are typically routine disposition of exercised shares rather than a simple purchase signal; they do, however, realize the difference between the market price and the exercise price. The filing provides factual trade details but does not state the insider’s motivation.