Regeneron CFO Exercises Expiring Options with Net Share Settlement

Executive Summary

On November 4, 2026, Christopher R. Fenimore, Executive Vice President of Finance and Chief Financial Officer of Regeneron Pharmaceuticals, Inc. ($REGN), filed a Form 4 reporting non-derivative transactions executed on November 2, 2026. The filing reflects an option exercise nearing its expiration date, settled via share withholding, alongside a minor gift of shares.

Transaction Breakdown

1. Option Exercise (Code M):

   • Shares Acquired: 6,000 shares of Common Stock.
   • Exercise Price: $381.92 per share.
   • Expiration Date: The options were set to expire on December 16, 2026.

2. Payment of Exercise Price / Tax Withholding (Code F):

   • Shares Disposed/Withheld: 4,243 shares.
   • Market Price: $950.50 per share ($4,032,971.50 in value).
   • This resulted in a net addition of 1,757 shares before gifts.

3. Bona Fide Gift (Code G):

   • Shares Disposed: 15 shares transferred at $0.00.

Ownership Structure Post-Transaction

• Direct Holdings: 21,726 shares of Common Stock.
• Indirect Holdings:
  • 1,576 shares via 401(k) Plan.
  • 1,897 shares via Trust for spouse.
  • 25 shares via Trust for Daughter.
  • 25 shares via Trust for Son.

Trading Significance

The trading significance is Low. This transaction represents routine administrative equity compensation management. With the derivative options set to expire approximately six weeks later on December 16, 2026, the exercise and subsequent share surrender (Code F) to cover costs and taxes represent standard executive liquidity planning without open-market discretionary selling.