Moderna President Stephen Hoge Exercises Options and Sells $17M in Stock Under 10b5-1 Plan

Transaction Overview

On October 14 and October 15, 2026, Stephen Hoge, President of Moderna, Inc. ($MRNA), executed pre-scheduled transactions under a Rule 10b5-1 trading plan adopted on June 15, 2026.

• Derivative Exercise: Dr. Hoge exercised stock options covering a total of 152,905 shares of common stock at a strike price of $12.21 per share.
• Open Market Sales: He disposed of 78,369 shares across both days in weighted-average price tranches ranging from $213.47 to $220.72 per share, realizing approximately $17.01 million in gross proceeds.
• Net Position Change: Because only roughly half of the exercised shares were sold (to cover exercise costs and tax obligations), Dr. Hoge's direct common stock holdings increased net by 74,536 shares, bringing his total direct holdings to 1,636,565 shares.

Beneficial Ownership Summary

Following the transactions:

• Direct Ownership: 1,636,565 shares
• Indirect Ownership:
  • 4,116 shares via Valhalla, LLC
  • 151,933 shares via Family Trust
• Derivative Holdings Remaining: 152,905 exercisable stock options expiring February 23, 2027

Market & Governance Context

The transactions were executed pursuant to a pre-established Rule 10b5-1 trading plan, mitigating concerns regarding opportunistic timing or non-public information. Given the significant net share retention and execution under an established plan, the trading significance is rated Medium primarily due to the transaction dollar volume.