In February 2022, Stéphane Bancel had sold less than $10 million worth of shares by mid-month, about $390 million less than claimed.
Days after Pfizer admitted a safety audit could wipe billions off their stock market valuation, Moderna CEO Stéphane Bancel dumped hundreds of millions of dollars in stock and deleted his Twitter account.Bancel Did Not Suddenly Dump $400 Million Worth of Stock
Bancel had been selling a very small portion of his shares on a nearly weekly basis for years. These sales, in accordance with Rule 10b5-1 of the Securities and Exchange Act of 1934, were done at predetermined times to prevent insider trading. A recent FEC filing showed that Bancel sold less than, about $390 million short of the $400 million claimed in this article.
Bancel was selling about 19,000 shares a week. While this may seem like a lot, it represented a tiny fraction of the approximate 21 million shares Bancel had in Moderna as of February 2022. When Bancel sells 19,000 shares, he's selling about .09% of his total shares.that Bancel had been slowly selling his stock since 2019, before the COVID-19 pandemic and before Moderna developed a COVID-19 vaccine.
We reached out to Moderna for comment and we will update this article if more information becomes available.Dmitry, Baxter. Moderna CEO Just Dumped $400 Million in Stock and Deleted His Twitter Account - News Punch. https://newspunch.com/moderna-ceo-just-dumped-400-million-in-stock-and-deleted-his-twitter-account/. Accessed 14 Feb. 2022.
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