In a filing with the SEC on Tuesday night, Bourla revealed that he has sold 62 percent of his stock holdings, or 1.32.508 shares, at $ 41.94 per share. On the other hand, Sally sold almost 29 percent, or 43,662 shares of her holdings at the same price.
This makes Bourla richer by around $ 5.56 million, while Sally earned $ 1.83 million.
Pfizer said Monday that its experimental Covid-19 vaccine was more than 90% effective based on initial test results, causing its shares to rise along with broader markets.
Pfizer and German partner BioNTech SE have said that no serious safety issues have been found so far and hope to apply for the US emergency use authorization this month, raising the possibility of a regulatory decision as soon as December. .
The company said Wednesday that the sale was part of a previously announced business plan, adopted by Bourla on August 19.
“The sale of these shares is part of Dr. Bourla’s personal financial planning and a pre-established plan (10b5-1), which allows, under SEC rules, the major shareholders and insiders of listed corporations trading a predetermined number of shares at a predetermined time on the stock market, ”Reuters quoted Pfizer as saying.
“Through our share plan administrator, Dr. Bourla authorized the sale of these shares on August 19, 2020, provided the shares were at least at a certain price,” the company added.
Pfizer shares opened at $ 41.86 on Monday and hit an intraday high and low of $ 41.99 and $ 38.38, respectively. However, the scrip was set at $ 39.20. The stock was around $ 38.33 on Nov. 11.
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