Pfizer CEO Sold $5.6m Worth Of Stocks On Day Of Vaccine Announcement

Shares of Pfizer surged by almost 15% that day after the firm and its partner BioNTech said its vaccine was more

than 90% effective in preventing COVID-19 among those in the trial without evidence of prior infection.

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Bourla sold 132,508 shares at an average price of $41.94 per share, or nearly $5.6 million, according to a

filing with the U.S. financial regulator, the SEC.

The sale was part of a pre-scheduled agreement set-up in August.

The company said: “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.”

A spokesman added: “After being with the company for more than 25 years, Albert owns a substantial amount of

Pfizer stock under our qualified and non-qualified savings plans.

“He now holds approximately nine times his salary in Pfizer stock after the sale this week.”

Pfizer had previously rejected taking part in Operation Warp Speed drug development program and used $2bn

of its own cash to develop the vaccine with BioNTech.

The vaccine could generate nearly $13bn in global sales next year, according to analysts at Morgan Stanley,

which would be split evenly between the two companies.