Valantine Hannah 4

What Happened Valantine Hannah, a director of BridgeBio Pharma (BBIO), exercised 8,671 stock options on 2026-03-10 and immediately sold the resulting 8,671 shares in the open market. She paid an exercise price of $27.36 per share (total cost $237,239) and sold the shares at $72.00 per share for total proceeds of $624,312 — a gross difference of $387,073 before taxes, fees, or other withholdings. The filings list the exercise as a derivative conversion (Form 4 code M) and the sale as an open-market sale (code S).

Key Details

• Transaction date: 2026-03-10 (reported on Form 4 filed 2026-03-12). Filing appears timely (within the usual 2 business days).
• Option exercise: 8,671 shares at $27.36 per share (total $237,239).
• Sale: 8,671 shares at $72.00 per share (total $624,312).
• Net cash before taxes/fees: roughly $387,073 (proceeds minus exercise cost).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1: Sale was effected under a Rule 10b5-1 sales plan adopted November 14, 2025 (pre‑arranged automatic sales).
  • F2: The underlying option vests one‑third each year after June 21, 2024, fully vesting by June 21, 2027, subject to continued board service.
• The filing shows a derivative conversion entry (exercise) and an immediate open‑market sale of the shares.

Context

• This was effectively a cashless exercise (options exercised and resulting shares sold immediately), a common way for insiders to realize option value without holding additional shares.
• The use of a 10b5‑1 plan indicates the sale was pre‑arranged and not an ad hoc trade, which many investors view as reducing the likelihood the sale was based on nonpublic information.
• No implications about company prospects should be inferred from a single routine exercise-and-sell transaction; it documents personal liquidity from vested options rather than an investment stance.