Barnes Alane P 4

What Happened Alane P. Barnes, Chief Legal Officer of BioCryst Pharmaceuticals (BCRX), exercised 150,000 stock options and immediately sold 150,000 common shares on March 16, 2026. The exercise cost was $5.51 per share (total cost $826,500). The shares were sold in open-market transactions at a weighted average price of $9.15 per share, generating gross proceeds of approximately $1,372,500. The filing also reports a derivative disposition of 150,000 at $0, reflecting the option conversion/settlement reported on the Form 4.

Key Details

• Transaction date: March 16, 2026 (reported on Form 4 filed March 18, 2026)
• Exercise: 150,000 shares at $5.51 → $826,500 cash paid
• Sale: 150,000 shares at a weighted average of $9.15 → ~$1,372,500 proceeds (sales ranged $8.95–$9.57)
• Derivative disposition: 150,000 shares listed at $0 (conversion/settlement of the option)
• Shares owned after transaction: Not stated in the provided filing summary
• Footnotes:
  • The sale was executed under a pre-arranged Rule 10b5-1 plan adopted August 13, 2025 (automatic, non-discretionary).
  • Sale price is a weighted average; individual sale prices ranged $8.95–$9.57.
  • The option vested in four annual tranches (25% each year) per the grant terms.
• Timeliness: Filing appears timely (Form 4 filed two days after the trade date); no late filing indicated.

Context Because the exercise and sale occurred the same day, this functions like a cashless exercise where the insider monetized vested options. Sales under a 10b5-1 plan are automated and are commonly used to avoid allegations of trading on material nonpublic information; they are not necessarily a directional signal about the insider’s view of the company.