Pfizer CEO sold $ 5.6 million worth of shares in the...

Pfizer CEO sold $ 5.6 million worth of shares in the...
Pfizer CEO sold $ 5.6 million worth of shares in the...
Pfizer’s announcement Monday about the success of its Corona vaccine trial led within minutes to a big celebration in global capital markets – and the company’s CEO, Albert Burla, took the opportunity and simply raised the money from the floor.

Read more in Calcalist:

According to a report released to the US Securities and Exchange Commission (SEC), Borella sold Pfizer shares worth $ 5.56 million on Monday – in the hours following the company’s announcement that the vaccine it developed together with Biontech showed 90% efficiency.

The sale of the shares was, of course, lawful, and according to the advance notice of a future sale provided by Burla on August 19, the plan addresses, among other things, the threshold conditions of the price levels at which it can execute such sales.

According to the company’s report, Borella sold 132,508 Pfizer shares on Monday at a price of $ 41.94 per share. Following the publication of the results, at the moment of its daily high, Pfizer shares climbed 15% to a price of $ 41.99, before the relative calm phase began – Pfizer’s rise in the closing rate was 7.7%.

“The sale of these shares is part of Borella’s personal financial planning, in accordance with an early-stage plan that allows, in accordance with SEC regulations, senior shareholders and public company shareholders to trade shares at a pre-determined amount and at a predetermined date,” Pfizer said in a statement.

Albert Burla Photo: Reuters

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