[BostonCard]

The report I saw on CNBC said the sale was driven by the stock price and not the specific date.  They said the plan was adopted in August.

Per the article I linked, "Bourla sold his shares under SEC rule 10b5-1, which allows company insiders to sell a predetermined amount of stock on predetermined dates."  It doesn't suggest that it was based on a pre-determined price.

I'm not implying that the CEO sold the shares based on insider information, as the results of the study were already public at the time of the sale.  But the company did have some room to set the date for the DSMB meeting and the press release, and the CEO did know when his shares were scheduled to sell.

I think I made a similar post when Moderna announced its phase I results.

https://www.cnn.com/2020/05/22/investing...index.html

Again, the timing of the sales is set in advance.  However, the timing of the press release is not.  In the case of Moderna, I recall that the data they released at the time was encouraging but somewhat flimsy and could have waited until they had full phase I data.

BC

[BostonCard]

The report I saw on CNBC said the sale was driven by the stock price and not the specific date.  They said the plan was adopted in August.

Per the article I linked, "Bourla sold his shares under SEC rule 10b5-1, which allows company insiders to sell a predetermined amount of stock on predetermined dates."  It doesn't suggest that it was based on a pre-determined price.

I'm not implying that the CEO sold the shares based on insider information, as the results of the study were already public at the time of the sale.  But the company did have some room to set the date for the DSMB meeting and the press release, and the CEO did know when his shares were scheduled to sell.

I think I made a similar post when Moderna announced its phase I results.

https://www.cnn.com/2020/05/22/investing...index.html

Again, the timing of the sales is set in advance.  However, the timing of the press release is not.  In the case of Moderna, I recall that the data they released at the time was encouraging but somewhat flimsy and could have waited until they had full phase I data.

BC