[Farm93]

Most executives at that level have very tight windows in the calendar when they can exercise options.  They usually can't sell after a quarter closes, but before the company announces.   Most companies frawn upon sales in the last 2 weeks of a quarter too since executives have a very good sense for how the quarter will close at that time.  So right out of the gate several weeks in a 13 week quarter are off limits.

Pfizer is a big company so even promising news like this only moved the stock 8%.  

Probably would have been better for all involved if the transaction happened in a different week, but I understand what happened.

[Farm93]

Most executives at that level have very tight windows in the calendar when they can exercise options.  They usually can't sell after a quarter closes, but before the company announces.   Most companies frawn upon sales in the last 2 weeks of a quarter too since executives have a very good sense for how the quarter will close at that time.  So right out of the gate several weeks in a 13 week quarter are off limits.

Pfizer is a big company so even promising news like this only moved the stock 8%.  

Probably would have been better for all involved if the transaction happened in a different week, but I understand what happened.