Pfizer’s CEO Dumps 62% Of His Stock On COVID Vaccine Announcement
By Tyler Durden – Zero Hedge – 11/11/2020
On Monday, Pfizer shares soared 16% following a bullish statement on the company’s experimental COVID-19 vaccine showed 90% effectiveness in preliminary results. Then on Tuesday, according to a Securities and Exchange Commission filing, Pfizer CEO Albert Bourla sold 62% of his stock.
The SEC Form 4 filing showed Bourla sold 132,508 shares at an average price of $41.94 per share, equivalent to $5.6 million – nearly top-ticking the 52-week-high.
Bourla’s sale was conducted under Rule 10b5-1, established by the SEC, allowing the corporate insider to sell a predetermined number of shares at a predetermined time. A Pfizer spokesperson told Axios that the CEO’s predetermined trading plan was formed in August.
Despite the sale being perfectly legal under Rule 10b5-1 to avoid accusations of insider trading, the optics aren’t great for Bourla, who still managed to top-tick the 52-week-high on the sale on news day. One can argue that he couldn’t have known the results of the vaccine trial months ahead of time. And while all this is coming out just days after a critical US election, though it’s not clear if that was a trigger.
Other pharmaceutical companies such as Moderna, also producing a COVID-19 vaccine, experienced similar insider selling over the summer around vaccine news – where insiders dumped tens of millions of dollars of stock.
Under the cover of Rule 10b5-1, corporate insiders at some pharmaceutical companies are already running for the exits by dumping their stock, of course, it’s easier to commit to pre-plan sales of stock when you know you can pump the price by simply publishing a press release.
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Book Review
Got His Gun: Lost His Legs, Arms, and Penis
By David Swanson | War is a Crime | October 27, 2013
Ann Jones’ new book, They Were Soldiers: How the Wounded Return from America’s Wars: The Untold Story, is devastating, and almost incomprehensibly so when one considers that virtually all of the death and destruction in U.S. wars is on the other side. Statistically, what happens to U.S. troops is almost nothing. In human terms, it’s overwhelming.
Know a young person considering joining the military? Give them this book.
Know a person not working to end war? Give them this book.
Jones presents the choice before us in the clearest terms in the introduction:
Contrary to common opinion in the United States, war is not inevitable. Nor has it always been with us. War is a human invention — an organized, deliberate action of an anti-social kind — and in the long span of human life on Earth, a fairly recent one. For more than 99 percent of the time that humans have lived on this planet, most of them have never made war. Many languages don’t even have a word for it. Turn off CNN and read anthropology. You’ll see.
What’s more, war is obsolete. Most nations don’t make war anymore, except when coerced by the United States to join some spurious ‘coalition.’ The earth is so small, and our time here so short. No other nation on the planet makes war as often, as long, as forcefully, as expensively, as destructively, as wastefully, as senselessly, or as unsuccessfully as the United States. No other nation makes war its business.
Jones begins her book with that distinguishing feature of war: death. The U.S. military assigns specialists in “Mortuary Affairs” to dispose of the dead. They dispose of their own sanity in the process. … continue
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