The sale took place on the same day Pfizer announced that its experimental coronavirus vaccine candidate was found to be more than 90% effective. The company's stock soared on the news. Bourla sold the stock as part of a stock-trading plan that aims to shield corporate executives from allegations of illegal insider trading.
Full Answer
Who is the CEO of Pfizer and what did he do?
Nov 11, 2020 · "The sale of these shares is part of Dr. Bourla's personal financial planning and a pre-established (10b5-1) plan, which allows, under SEC rules, major shareholders and insiders of exchange-listed corporations to trade a predetermined number of shares at a predetermined time," Pfizer said. "Through our stock plan administrator, Dr. Bourla authorized the sale of …
Why did Pfizer CEO Bourla sell millions of dollars of stock?
Nov 12, 2020 · AP Photo/Pablo Martinez Monsivais Pfizer CEO Albert Bourla sold 62% of his stock in the company on the same day the drugmaker announced the results of its COVID-19 vaccine trial. Bourla sold $5.6...
Who sold Pfizer shares Monday?
Nov 12, 2020 · AP Photo/Pablo Martinez Monsivais Pfizer CEO Albert Bourla sold 62% of his stock in the company on the same day the drugmaker announced the results of its COVID-19 vaccine trial. Bourla sold $5.6...
What is the 52-week high for Pfizer stock?
Nov 11, 2020 · Pfizer CEO Albert Bourla cashed in on his company’s coronavirus vaccine breakthrough. The executive sold more than $5.5 million worth of Pfizer stock on Monday — the same day the drugmaker said its experimental COVID-19 shot was more than 90 percent effective, records show. The groundbreaking development sent Pfizer’s share price surging as high as …
Is selling a stake good?
Selling the bulk of your stake never looks good, but especially when public confidence in your company is a matter of life or death. Author of the article:
Can planned sales create question marks?
But it all shows that planned sales can create question marks as well as remove them.
Why did Pfizer sell its shares?
A Pfizer spokeswoman said in an email to CNN Business that the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19.
Who is the CEO of Pfizer?
Pfizer CEO Albert Bourla filed to sell millions of dollars of his company's stock Monday -- the day the pharmaceutical giant announced positive data about its coronnavirus vaccine.
Where is Pfizer headquarters?
In this file photo from Jan. 31, 2011, people walk past the Pfizer logo at the drug company's world headquarters in New York. (AP/Mark Lennihan) Albert Bourla, DVM, Ph.D. Chief Executive Officer Pfizer, prepares to testify before the Senate Finance Committee hearing on drug prices, on Feb. 26, 2019.
Why do companies sell stock at predetermined intervals?
Many executives sell stock at predetermined intervals to diversify their portfolios. But they can delay the sales to avoid appearances of capitalizing on one-off events that can boost company's shares. Bouria told CNN's Sanjay Gupta that he learned of the trial's results Sunday, a day before they were made public.
What percentage of the Brazilian market does Nissan want?
The President and CEO of Japan's auto company Nissan Carlos Ghosn, gestures during a press conference in Rio de Janeiro, Brazil, on January 6, 2015, where he announced that Nissan wants 5 percent (currently 2.5 percent) of the Brazilian market until the end of 2016.
Why are buybacks viewed favorably?
Buybacks tend to be viewed favorably by investors because they tend to reduce the overall share count and boost earnings per share.
What is the fear of insiders?
The fear is that insiders know better than average investors what’s really going on at a company. When most people hear insider selling, they think about the infamous Ivan Boesky trading scandal from the 1980s that inspired Michael Douglas’ Gordon Gekko character in the movie “Wall Street.”.
When is GameStop 2021?
NEW YORK, NEW YORK - JANUARY 28: People walk by a GameStop store in Brooklyn on January 28, 2021 in New York City. Markets continue a volatile streak with the Dow Jones Industrial Average rising over 500 points in morning trading following yesterdays losses. Shares of the video game retailer GameStop plunged.
Is meme stock a fad?
Fund manager says meme stock phenomenon is not a fad. Angela Weiss/AFP/Getty Images. People walk past an AMC and IMAX movie theatre in the theatre district near Broadway on May 6, 2021 in New York City.
Is insider selling illegal?
But most insider selling isn’t really all that devious in nature — or illegal for that matter. Nick Clay, a portfolio manager with Newton Investment Management, said company executives often have a legitimate reason to sell stock. They may need to pay taxes or want to diversify their portfolio, for example.
