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Parallel to the effective announcement of the vaccine on Monday, Pfizer CEO Albert Bourla sold 62 percent of his stake in the company, according to regulatory documents submitted to the US Securities and Exchange Commission (SEC).
Pfizer shares rose nearly 15 percent on the day of the announcement, allowing CEO Albert Bourla to sell his shares in the company at an average price of $ 41.94. This is close to the high rate of the last 52 weeks, which was $ 41.99.
The CEO sold a total of 132.5 thousand shares, worth a total of $ 5.6 million, or almost HUF 1.7 billion. This represented about 62 percent of their total participation.
The documents attest that the sales were part of a routine transaction that allows corporate employees to sell their shares and meets regulatory requirements. This was also confirmed by the company that the sale was part of a previously authorized business plan:
Dr. Bourla authorized the sale of the shares through the administrator as of August 19, provided that the share price reached a certain threshold.
Following the transaction, the CEO still owns nearly 82,000 shares.
Pfizer’s stock price fell 1.6 percent to $ 38 today, down from 2.9 percent this year.
(Business Insider)
Cover image: Steven Ferdman / Getty Images
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