Pitofsky Jason 4
4 · REGENERON PHARMACEUTICALS, INC. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Regeneron SVP Jason Pitofsky Exercises Options and Sells Shares
What Happened
Jason Pitofsky, SVP Controller at Regeneron Pharmaceuticals (REGN), executed option-related transactions and multiple open‑market sales on February 9, 2026. He exercised/converted 2,000 option-derived shares (one exercise resulted in 1,000 shares acquired by paying $492.00 each — $492,000; another 1,000 shares were recorded as disposed at $0.00, consistent with withholding/settlement). Separately he sold a total of 2,036 shares in the open market at prices roughly between $775.95 and $785.73, producing aggregate gross proceeds of about $1,585,058. After paying the $492,000 exercise cost, the approximate net cash from these transactions was ~$1.09M (excluding taxes/fees and the withheld shares).
Key Details
- Transaction date: February 9, 2026; filing date: February 11, 2026 (timely file for 2/9 trades).
- Option exercises (code M): 1,000 shares acquired at $492.00 (cost $492,000); 1,000 shares disposed at $0.00 (withheld).
- Open‑market sales (code S): 2,036 shares sold in multiple tranches; total proceeds ≈ $1,585,058. Specific VWAP notes provided in the filing for groups of sales (see footnotes F2–F10).
- Net cash (sales less paid exercise price, before taxes/fees): ≈ $1,093,058.
- Shares owned after transaction: not included in the provided excerpt of the filing.
- Footnotes of note: F1 — sales made pursuant to a Rule 10b5‑1 trading plan adopted Nov 10, 2025; F11 — the option award vests in four equal annual installments (vesting detail). Several footnotes (F2–F10) give volume‑weighted average prices/ranges for grouped sales and offer to provide per‑price breakdowns on request.
- Transaction codes explained: M = option exercise/conversion; S = open‑market sale.
Context
- This combination of an option exercise plus immediate or subsequent open‑market sales is common for covering exercise costs and tax withholding (the $0.00 disposition likely reflects shares surrendered/withheld). The sales were executed under a prearranged 10b5‑1 plan, which typically indicates scheduled, non‑discretionary transactions.
- As always, sales under 10b5‑1 plans and tax‑related withholdings are often routine and should not be interpreted alone as a definitive signal of the insider’s view of the company.
Insider Transaction Report
Form 4
Pitofsky Jason
SVP Controller
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-09$492.00/sh+1,000$492,000→ 6,308 total - Sale
Common Stock
[F1]2026-02-09$775.95/sh−20$15,519→ 6,288 total - Sale
Common Stock
[F1][F2]2026-02-09$776.43/sh−521$404,520→ 5,767 total - Sale
Common Stock
[F1][F3]2026-02-09$777.51/sh−391$304,006→ 5,376 total - Sale
Common Stock
[F1][F4]2026-02-09$778.35/sh−563$438,211→ 4,813 total - Sale
Common Stock
[F1][F5]2026-02-09$779.56/sh−205$159,810→ 4,608 total - Sale
Common Stock
[F1][F6]2026-02-09$780.06/sh−75$58,504→ 4,533 total - Sale
Common Stock
[F1][F7]2026-02-09$781.37/sh−26$20,316→ 4,507 total - Sale
Common Stock
[F1][F8]2026-02-09$782.67/sh−37$28,959→ 4,470 total - Sale
Common Stock
[F1][F9]2026-02-09$783.23/sh−144$112,785→ 4,326 total - Sale
Common Stock
[F1]2026-02-09$784.66/sh−1$785→ 4,325 total - Sale
Common Stock
[F1][F10]2026-02-09$785.72/sh−53$41,643→ 4,272 total - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F1][F11]2026-02-09−1,000→ 905 totalExercise: $492.00Exp: 2030-12-09→ Common Stock (1,000 underlying)
Holdings
- 31(indirect: By 401(k))
Common Stock
- 179(indirect: By Spouse)
Common Stock
Footnotes (11)
- [F1]Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 10, 2025.
- [F10]Represents volume-weighted average price of sales of 53 shares of Company stock on February 9, 2026 at prices ranging from $785.72 to $785.73. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F11]The stock option award vested in four equal annual installments, commencing one year after the date of grant.
- [F2]Represents volume-weighted average price of sales of 521 shares of Company stock on February 9, 2026 at prices ranging from $776.05 to $776.98. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F3]Represents volume-weighted average price of sales of 391 shares of Company stock on February 9, 2026 at prices ranging from $777.33 to $777.99. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F4]Represents volume-weighted average price of sales of 563 shares of Company stock on February 9, 2026 at prices ranging from $778.00 to $778.95. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F5]Represents volume-weighted average price of sales of 205 shares of Company stock on February 9, 2026 at prices ranging from $779.19 to $779.96. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F6]Represents volume-weighted average price of sales of 75 shares of Company stock on February 9, 2026 at prices ranging from $780.03 to $780.65. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F7]Represents volume-weighted average price of sales of 26 shares of Company stock on February 9, 2026 at prices ranging from $781.18 to $781.53. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F8]Represents volume-weighted average price of sales of 37 shares of Company stock on February 9, 2026 at prices ranging from $782.22 to $782.83. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
- [F9]Represents volume-weighted average price of sales of 144 shares of Company stock on February 9, 2026 at prices ranging from $783.17 to $783.29. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 9, 2026 at each separate price.
Signature
/s/ Jason Pitofsky|2026-02-11