Insiders at Covid-19 Vaccine Makers Sold Nearly $500 Million of Stock Last Year
Some of the sales toward the end of last year have drawn the attention of government officials, with the then-head of the Securities and Exchange Commission calling for new restrictions on the trading plans under which many of the sales were made.
Preset trading plans often are set up to allow officers who might have access to nonpublic information to sell shares without exposing themselves to charges of insider trading. The so-called 10b5-1 plans can set prices or other thresholds that trigger automatic sales when reached. Some plans require a “cooling-off period” between the time the plan is implemented and the first trade....
