Pfizer’s CEO sold $5.6 million in stock on same day of vaccine news

Pfizer CEO Albert Bourla sold $5.6 million worth of stock on Monday — the same day it said its and BioNTech’s coronavirus vaccine showed 90% effectiveness in preliminary results, which saw the company’s stock soaring almost 8%.

Between the lines: The stock sale is perfectly legal through a predetermined plan called Rule 10b5-1, but the optics aren’t great. A Pfizer spokesperson did not add any new information in a statement, saying the sale was part of a predetermined plan created in August.

https://www.sec.gov/Archives/edgar/data/78003/000122520820013318/xslF345X03/doc4.xml

Via https://www.axios.com/pfizer-ceo-albert-bourla-stock-sale-covid-vaccine-c380a500-ee02-4106-befe-88b08c656d39.html