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Friday, February 19, 2021

Pfizer CEO Sold Stocks the Day the Company Announced Vaccine News

Pfizer CEO Albert Bourla filed to sell $5.6 million of his company’s stocks the day it announced positive data about the COVID-19 vaccine it is currently developing. The transaction was part of a regularly scheduled plan set up by Bourla to sell some of his Pfizer shares.

Pfizer CEO Albert Bourla filed to sell $5.6 million of his company’s stocks the day it announced positive data about the COVID-19 vaccine it is currently developing. The transaction was part of a regularly scheduled plan set up by Bourla to sell some of his Pfizer shares.

According to a filing with the Securities and Exchange Commission published on Wednesday afternoon, Bourla sold 132,508 Pfizer shares at a price of $41,94. The company’s shares soared after Pfizer and BioNTech announced that the vaccine could be more than 90 percent effective.

Pfizer’s spokeswoman said in an email that the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by the company’s CEO on August 19th.

When asked if Bourla and Pfizer thought to cancel the stock sale due to the perception that he might be cashing in on good news, the spokeswoman explained that “these are predetermined plans managed through a third-party stock administrator.”

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