Tapewire

Nasdaq · USD

MRNA

Moderna, Inc.

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Tapewire entity
2025
SEC CIK
0001682852
Parsed reports
1,064

Last 12 months

Inside the activity.

0 purchase rows · 19 sale rows

Disclosed non-derivative P/S rows, by transaction month. Includes amendments and private transactions.
Monthly counts
MonthPurchasesSales
Nov 202500
Dec 202502
Jan 202600
Feb 202601
Mar 202601
Apr 202600
May 202603
Jun 202602
Jul 202601
Aug 202604
Sep 202605
Oct 202600

Latest available

Insider transactions

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateOwner / reported roleActivity / securityShares / unitsReported priceReported valueDetails
June 28, 2023 Filed Jun 30, 2023 23:02 UTC SaleCommon Stock 1,700 $119.84 $203,723.07
Disclosure

SEC source: 0000950170-23-031214 · ownership.xml · nonDerivative · entry 1

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,125,509

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.26 to $120.25, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Read SEC document
June 28, 2023 Filed Jun 30, 2023 20:51 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 27,155 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-019642 · form4.xml · derivative · entry 8

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 27,155 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F8 · derivative.exercise_date: This option is fully vested and exercisable.

Read SEC document
June 28, 2023 Filed Jun 30, 2023 20:51 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 366 $123.05 $45,036.30
Disclosure

SEC source: 0001127602-23-019642 · form4.xml · nonDerivative · entry 6

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F2 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F6 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $122.98 to $123.13. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 28, 2023 Filed Jun 30, 2023 20:51 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 13,094 $122.01 $1,597,598.94
Disclosure

SEC source: 0001127602-23-019642 · form4.xml · nonDerivative · entry 5

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,412,312

F2 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F5 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $121.79 to $122.78. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 28, 2023 Filed Jun 30, 2023 20:51 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 11,417 $121.40 $1,386,023.80
Disclosure

SEC source: 0001127602-23-019642 · form4.xml · nonDerivative · entry 4

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,425,406

F2 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F4 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $120.78 to $121.78. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 28, 2023 Filed Jun 30, 2023 20:51 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 2,278 $120.39 $274,248.42
Disclosure

SEC source: 0001127602-23-019642 · form4.xml · nonDerivative · entry 3

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,436,823

F2 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F3 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $119.77 to $120.77. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 28, 2023 Filed Jun 30, 2023 20:51 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 27,155 $0.99 $26,883.45
Disclosure

SEC source: 0001127602-23-019642 · form4.xml · nonDerivative · entry 2

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,439,101

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

Read SEC document
June 22, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 40,000 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · derivative · entry 10

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 27,155

Underlying: Common Stock · 40,000 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F8 · derivative.exercise_date: This option is fully vested and exercisable.

Read SEC document
June 22, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 15,171 $119.87 $1,818,547.77
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · nonDerivative · entry 8

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F7 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $119.49 to $120.41. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 22, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 24,829 $119.13 $2,957,878.77
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · nonDerivative · entry 7

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,427,117

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F6 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $118.48 to $119.48. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 22, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 40,000 $0.99 $39,600.00
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · nonDerivative · entry 6

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,451,946

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 23:01 UTC SaleCommon Stock 400 $123.48 $49,390.00
Disclosure

SEC source: 0000950170-23-029699 · ownership.xml · nonDerivative · entry 3

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,127,209

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $123.30 to $123.92, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 23:01 UTC SaleCommon Stock 6,790 $122.26 $830,175.28
Disclosure

SEC source: 0000950170-23-029699 · ownership.xml · nonDerivative · entry 2

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,127,609

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $122.03 to $122.85, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 23:01 UTC SaleCommon Stock 7,810 $121.60 $949,661.64
Disclosure

SEC source: 0000950170-23-029699 · ownership.xml · nonDerivative · entry 1

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,134,399

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $121.03 to $122.02, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 40,000 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · derivative · entry 9

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 67,155

Underlying: Common Stock · 40,000 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F8 · derivative.exercise_date: This option is fully vested and exercisable.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 19,289 $122.21 $2,357,308.69
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · nonDerivative · entry 5

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F5 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $122.03 to $122.88. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 20,711 $121.77 $2,521,978.47
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · nonDerivative · entry 4

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,431,235

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F4 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $121.02 to $122.01. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 21, 2023 Filed Jun 23, 2023 20:03 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 40,000 $0.99 $39,600.00
Disclosure

SEC source: 0001127602-23-019319 · form4.xml · nonDerivative · entry 3

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,451,946

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:10 UTC
Hoge StephenPresident
SaleCommon Stock 15,000 $125.93 $1,888,950.00
Disclosure

SEC source: 0001127602-23-018859 · form4.xml · nonDerivative · entry 1

Hoge Stephen · CIK 0001760669 · President

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,617,303

F1 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on March 15, 2023.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 40,000 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · derivative · entry 14

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 107,155

Underlying: Common Stock · 40,000 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F12 · derivative.exercise_date: This option is fully vested and exercisable.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 14,277 $129.77 $1,852,726.29
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 12

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F11 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $129.51 to $130.13. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 7,115 $129.12 $918,688.80
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 11

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,426,223

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F10 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $128.50 to $129.49. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 8,443 $127.99 $1,080,619.57
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 10

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,433,338

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F9 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $127.40 to $128.38. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 5,377 $127.01 $682,932.77
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 9

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,441,781

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F8 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $126.38 to $127.38. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 4,788 $125.61 $601,420.68
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 8

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,447,158

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F7 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $125.15 to $125.98. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 15, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 40,000 $0.99 $39,600.00
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 7

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,451,946

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

Read SEC document
June 14, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 40,000 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · derivative · entry 13

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 147,155

Underlying: Common Stock · 40,000 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F12 · derivative.exercise_date: This option is fully vested and exercisable.

Read SEC document
June 14, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 8,510 $127.25 $1,082,897.50
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 6

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F6 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $126.67 to $127.62. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 14, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 20,848 $126.10 $2,628,932.80
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 5

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,420,456

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F5 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $125.66 to $126.66. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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June 14, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 10,642 $125.32 $1,333,655.44
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 4

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,441,304

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F4 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $124.65 to $125.65. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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June 14, 2023 Filed Jun 16, 2023 20:15 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 40,000 $0.99 $39,600.00
Disclosure

SEC source: 0001127602-23-018865 · form4.xml · nonDerivative · entry 3

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,451,946

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

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June 14, 2023 Filed Jun 16, 2023 23:00 UTC SaleCommon Stock 530 $128.15 $67,917.59
Disclosure

SEC source: 0000899243-23-015815 · doc4.xml · nonDerivative · entry 4

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,142,209

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $127.91 to $128.55, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

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June 14, 2023 Filed Jun 16, 2023 23:00 UTC SaleCommon Stock 3,002 $127.19 $381,822.88
Disclosure

SEC source: 0000899243-23-015815 · doc4.xml · nonDerivative · entry 3

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,142,739

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.83 to $127.66, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

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June 14, 2023 Filed Jun 16, 2023 23:00 UTC SaleCommon Stock 5,997 $126.17 $756,658.28
Disclosure

SEC source: 0000899243-23-015815 · doc4.xml · nonDerivative · entry 2

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,145,741

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.78 to $126.74, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

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June 14, 2023 Filed Jun 16, 2023 23:00 UTC SaleCommon Stock 5,471 $125.43 $686,228.62
Disclosure

SEC source: 0000899243-23-015815 · doc4.xml · nonDerivative · entry 1

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,151,738

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $124.75 to $125.73, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

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June 08, 2023 Filed Jun 9, 2023 20:09 UTC
Klinger Shannon ThymeChief Legal Officer
SaleCommon Stock 565 $124.09 $70,110.79
Disclosure

SEC source: 0001127602-23-018413 · form4.xml · nonDerivative · entry 2

Klinger Shannon Thyme · CIK 0001866132 · Chief Legal Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 6,516

F2 · kind: Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.

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June 08, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 40,000 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · derivative · entry 11

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 187,155

Underlying: Common Stock · 40,000 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F9 · derivative.exercise_date: This option is fully vested and exercisable.

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June 08, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 389 $125.22 $48,710.58
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 9

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F8 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $125.13 to $125.29. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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June 08, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 17,396 $124.53 $2,166,323.88
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 8

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,412,335

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F7 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $124.12 to $125.08. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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June 08, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 22,215 $123.58 $2,745,329.70
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 7

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,429,731

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F6 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $123.11 to $124.11. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 08, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 40,000 $0.99 $39,600.00
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 6

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,451,946

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

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June 07, 2023 Filed Jun 9, 2023 20:09 UTC
Klinger Shannon ThymeChief Legal Officer
Exercise / conversionRestricted Stock Units · Derivative 1,139 $0.00 $0.00
Disclosure

SEC source: 0001127602-23-018413 · form4.xml · derivative · entry 3

Klinger Shannon Thyme · CIK 0001866132 · Chief Legal Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,109

Underlying: Common Stock · 1,139 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units convert into common stock on a one-for-one basis.

F1 · kind: Restricted stock units convert into common stock on a one-for-one basis.

F3 · derivative.exercise_date: 25% of the shares subject to this restricted stock unit award vested on June 7, 2022 with the remainder vesting in twelve (12) equal quarterly installments thereafter.

F3 · derivative.expiration_date: 25% of the shares subject to this restricted stock unit award vested on June 7, 2022 with the remainder vesting in twelve (12) equal quarterly installments thereafter.

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June 07, 2023 Filed Jun 9, 2023 20:09 UTC
Klinger Shannon ThymeChief Legal Officer
Exercise / conversionCommon Stock 1,139 Not disclosed Not disclosed
Disclosure

SEC source: 0001127602-23-018413 · form4.xml · nonDerivative · entry 1

Klinger Shannon Thyme · CIK 0001866132 · Chief Legal Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 7,081

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Restricted stock units convert into common stock on a one-for-one basis.

F1 · price: Restricted stock units convert into common stock on a one-for-one basis.

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June 07, 2023 Filed Jun 9, 2023 23:00 UTC SaleCommon Stock 2,702 $126.59 $342,054.02
Disclosure

SEC source: 0000899243-23-015288 · doc4.xml · nonDerivative · entry 2

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,157,209

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.34 to $126.93, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

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June 07, 2023 Filed Jun 9, 2023 23:00 UTC SaleCommon Stock 12,298 $125.76 $1,546,547.29
Disclosure

SEC source: 0000899243-23-015288 · doc4.xml · nonDerivative · entry 1

AFEYAN NOUBAR · CIK 0001222012 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,159,911

F1 · kind: These sales were effected by the reporting person pursuant to a Rule 10b5-1 trading plan adopted on February 27, 2023.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.34 to $126.31, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Read SEC document
June 07, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionStock Option (Right to Buy) · Derivative 40,000 $0.00 Strike: $0.99 $0.00
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · derivative · entry 10

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 227,155

Underlying: Common Stock · 40,000 shares

Expires 2023-08-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F9 · derivative.exercise_date: This option is fully vested and exercisable.

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June 07, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 4,128 $126.51 $522,233.28
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 5

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,411,946

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F5 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $126.32 to $126.92. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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June 07, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
SaleCommon Stock 35,872 $125.73 $4,510,186.56
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 4

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,416,074

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

F4 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $125.31 to $126.31. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Read SEC document
June 07, 2023 Filed Jun 9, 2023 20:14 UTC
Bancel StephaneDirector · Chief Executive Officer
Exercise / conversionCommon Stock 40,000 $0.99 $39,600.00
Disclosure

SEC source: 0001127602-23-018420 · form4.xml · nonDerivative · entry 3

Bancel Stephane · CIK 0001443340 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,451,946

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018, as last amended on March 15, 2022, and as further described in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 24, 2022.

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June 06, 2023 Filed Jun 7, 2023 20:05 UTC
Garay ArpaChief Commercial Officer
SaleCommon Stock 2,290 $125.75 $287,971.62
Disclosure

SEC source: 0001127602-23-018126 · form4.xml · nonDerivative · entry 2

Garay Arpa · CIK 0001916360 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,547

F3 · kind: Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.