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The company said on Wednesday the sale was part of a pre-announced trading plan, adopted by Bourla on Aug. 19.
Bourla sold 132,508 shares at $41.94 per share, according to a Securities and Exchange Commission filing late Tuesday. (https://
“The sale of these shares is part of Dr. Bourla’s personal financial planning and a pre-established (10b5-1) plan, which allows, under SEC rules, major shareholders and insiders of exchange-listed corporations to trade a predetermined number of shares at a predetermined time,” Pfizer said.
“Through our stock plan administrator, Dr. Bourla authorized the sale of these shares on August 19, 2020, provided the stock was at least at a certain price.”
Pfizer on Monday said its experimental COVID-19 vaccine was more than 90% effective based on initial trial results, sending its shares higher along with the broader markets.
Pfizer and German partner BioNTech SE (F:22UAy) have said no serious safety concerns were found so far and expect to seek U.S. emergency use authorization this month, raising the chance of a regulatory decision as soon as December.
