Pfizer Chief Executive Officer (CEO) Albert Bourla, liquidated 61.8% of its shares in the pharmaceutical company the same day that the efficacy of the Covid-19 vaccine that it is developing with Biontech was announced, as recorded in the records of the Securities Market Commission (SEC).
Thus, last Monday, Bourla sold a total of 132,508 shares of the company at a unit price of $ 41.94, which is equivalent to a total of 5,557 million dollars (4,727 million euros). And is that the Friday before the announcement of the hopeful results of the trials of its vaccine, Pfizer shares had dismissed the session at $ 36.40, more than 13% below the sale price of the CEO’s shares.
Despite the operation, the CEO continues to directly maintain a shareholding package of 78,273 titles in the company, in addition to another 3,539 indirectly.
For its part, SallySusman, vice president of Pfizer, has also joined his partner with the sale of a shareholding package of 43,662 shares at a unit price of 41.94 dollars, that is, a total of 1,831 million dollars (1,557 million euros). Although, it still holds a direct stake of 108,096 shares and indirectly controls another 708 Pfizer titles.
The transaction would be supported by rule 10b5-1 of the US stock market, which sets the conditions for executives of listed companies to operate without violating the rules on the use of inside information. In this sense, the pharmaceutical company indicated that the transaction had been authorized in advance by Bourla on August 19 as part of the firm’s share management program.