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Deal
Pfizer Inc CEO Albert Bourla sold a stake worth $ 5.56 million, according to a regulatory document that showed the sale took place on Monday, the same day the drugmaker reported positive data on its vaccine. experimental COVID-19.
The Pfizer logo is seen at its UK headquarters in Walton Oaks, Great Britain, on November 11, 2020. REUTERS / Peter Cziborra
REUTERS: Pfizer Inc CEO Albert Bourla sold a stake worth $ 5.56 million, according to a regulatory document that showed the sale took place on Monday, the same day the drugmaker reported positive data on its experimental COVID-19 vaccine.
The company said Wednesday that the sale was part of a previously announced business plan, adopted by Bourla on August 19.
Bourla sold 132,508 shares at $ 41.94 a share, according to a Securities and Exchange Commission filing Tuesday night. (https://bit.ly/3eQ0RPV)
“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, major shareholders and insiders of listed corporations trading a predetermined number of shares on the stock market at a predetermined time, “said Pfizer.
“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.”
Pfizer said Monday that its COVID-19 experimental vaccine was more than 90 percent effective based on initial test results, boosting its shares 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. .
(Reporting by Manojna Maddipatla in Bengaluru; edited by Shinjini Ganguli)
