Moderna CEO Stephane Bancel Has Sold This Much of the Company’s Stock

Moderna was pretty busy during the pandemic developing a vaccine and it looks like the company’s CEO Stephane Bancel was also pretty busy selling shares of his company.

Bancel has sold about 2.8 million shares since January 2020 at a total value of approximately $408 million.

The CEO’s sales are executed under under a SEC rule, known as 10b5-1, that was adopted to prevent insider trading.

According to CNBC’s analysis of the company’s securities filings, Bancel has sold $408 million in company stock since the beginning of the coronavirus pandemic — averaging roughly $3.6 million a week, as the company’s stock soared on the development and rollout of its Covid vaccine.

Moderna rose to fame during the pandemic after it developed its two-dose Covid vaccine in cooperation with the National Institutes of Health and with taxpayer backing trough Operation Warp Speed.

Moderna’s shots are now the second-most commonly used Covid vaccine in the U.S. after Pfizer, with more than 209 million doses administered, according to the Centers for Disease Control and Prevention.

According to Courtney Yu, director of research at Equilar, the value of Bancel’s sales speak to how well the company’s stock has performed on the success of its vaccine. Equilar, which provides data on executive compensation, independently verified the value of Bancel’s sales.

The shots have made Bancel a billionaire with an estimated net worth of more than $5.3 billion in company equity alone

Moderna’s stock has soared 614% since January of 2020.

The company’s Covid vaccine remains the biotech company’s only commercially available product.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.