The CEO of Pfizer, a company that has boosted its price and the stock markets around the world with the announcement of advances in a vaccine against covid-19, sold shares worth 5.56 million dollars (4.73 million euros) on the day the pharmacy made this news public, last Monday.
As stated in the documentation of the Security Exchange Commission (SEC), the equivalent body to the National Securities Market Commission in the US, Albert Bourla got rid of 132.508 tÃtulos at $ 41.94 each, the value reached on Monday. In the previous session, on Friday, the share had remained at 36.40 euros.
But the day of the announcement the parks of the whole world were turned upside down; Pfizer claimed to have achieved a 90% success with its vaccine project, an optimism with the trials against the coronavirus that was transmitted at high speed through the stock exchanges, with a special positive impact in Spain.
This Wednesday, before the publications in different media of this share transaction, the pharmaceutical company explained that the sale of Bourla shares does not correspond to a temporary movement, but to a plan in advance. “The sale of these shares is part of Bourla’s financing plan,” the company said. The agreement, therefore, stipulated the placement of “a predetermined number of shares at a predetermined time”. The manager has lacked the 62% of your package in the company.
With the best price of Pfizer in 54 weeks, reached last Monday, the sale took place. The time of the transaction thus coincided with the announcement of the advances with the vaccine jointly investigated with the German company BioNTech.
The operation has involved 5,557,385 dollars to Bourla, which would have received 4,823,291 if the company’s price had not changed with respect to the previous trading session, the one on Friday. The difference from one day to the next is estimated at 734,094 dollars, 624,203 euros.
“Through our share plan manager, Dr. Bourla authorized the sale of these shares on August 19 of 2020, provided that it was guaranteed that the stock was at least at a certain price, “explained Pfizer. The pharmaceutical company assures that this manager has always followed the 10b5-1 (b) rule, which makes this type possible. of exchanges if the person carrying out the transaction shows that I had decided to do it before I got inside information. Bourla said in an interview with CNN, he did not learn until Sunday of the encouraging results of Pfizer’s work to curb the virus.
Pfizer appreciated on Monday around 8%, a price improvement of about 20,000 million dollars, about 17,000 million euros. For the Ibex 35, which led the globally generalized increases, that day was the best in the park since May 2010.