Coronavirus

Pfizer boss sells shares on the day of the corona vaccine announcement

Pfizer boss Albert Bourla.

Steven Ferdman / Getty Images

Albert Bourla, CEO of Pfizer, sold 62 percent of his shares on the same day the company announced that its experimental corona vaccine was successful in clinical trials. The vaccine announcement sent Pfizer’s shares nearly 15 percent that day.

Bourla sold 132,508 shares at an average price of $ 41.94 per share – a total of $ 5.6 million. These are the results of documents that have been registered with the American stock exchange regulator. The 52-week high for Pfizer’s stock was $ 41.99. That means Bourla sold its shares almost at their highest value in the past year.

His stock sale was carried out by a routine rule called 10b5-1. This is a pre-established trading plan that enables company employees to sell their shares in accordance with insider trading laws. Bourla’s sale was part of a plan that was passed on August 19th. He still owns 81,812 Pfizer shares.

Pfizer confirmed this to NewsABC.net. A spokesman said, “Through our stock plan administrator, Dr. Bourla approved the sale of these shares on August 19, 2020, provided the shares were offered at least at a certain price. “

On Monday, Pfizer and its German partner BioNTech announced that their corona vaccine is over 90 percent effective, based on 94 observed cases in a study of thousands of participants. The drug companies are the first to report positive results from late-stage COVID-19 vaccine studies.

This article has been translated from English. You can read the original here.

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