Moderna Shares Fell 3% in Morning Trading as Its CEO Sold over $400m of Company Shares during the Pandemic

Tiger Newspress2022-03-17

Moderna shares fell 3% in morning trading as its CEO sold over $400M of company shares during the pandemic.

Stephane Bancel, Chief Executive of the COVID-19 vaccine maker Moderna (NASDAQ:MRNA), has offloaded $408 million worth of company shares since January 2020,CNBC reported Thursday, citing an analysis of the company’s securities filings.

Equilar, a company providing data on executive compensation, has independently verified the value of Bancel’s sales. However, he has made the sales in line with the 10b5-1 stock plans adopted in 2018.

According to the report, as Moderna (MRNA) shares surged with its successes in the COVID-19 vaccine front, Bancel has become a billionaire with an estimated net worth of more than $5.3 billion based only on his company equity as of March 01.

  • Developed in partnership with the National Institutes of Health (NIH), Moderna’s (MRNA) vaccine is the second most widely used COVID-19 shot in the U.S.

  • However, the company is battling several parties, including the NIH, for certainpatent rights for the mRNA-based shot.

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    Comments

    • Camemberu
      2022-03-18
      Camemberu
      Relax, he made the sale of shares accordingto the 2018 10b5-1 plans. That's how they get paid. 
    • BenjiFuji
      2022-03-18
      BenjiFuji
      Why he need so much cash suddenly? Red flag?
    • 1b4a34ed
      2022-03-18
      1b4a34ed
      Not a good sign...
    • andrew123
      2022-03-18
      andrew123
      Like 
    • IN76
      2022-03-18
      IN76
      That is not a good sign when its CEO offload thecompany's shares in such a large amount. As retail investors, we have to be careful. 
    • ACCY
      2022-03-17
      ACCY
      Hmm something fishy! 🤨
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