Novartis Officer Files Form 144 Notice of Proposed Sale for $933K in ADSs

Executive Summary

On October 28, 2026, Victor Bulto Carulla, an Officer at Novartis AG, filed a Form 144 proposing to sell 6,000 American Depositary Shares (ADSs) on the NYSE through Fidelity Brokerage Services LLC. The aggregate market value of the proposed disposition is $933,180.00, reflecting an implied price of $155.53 per ADS.

Transaction Details

• Securities Offered: 6,000 American Depositary Shares.
• Origin of Shares: Acquired directly from the issuer via multiple Restricted Stock Unit (RSU) vesting events between January 2024 and January 2026 as executive equity compensation:
  • 61 shares on 01/20/2024
  • 326 shares on 01/25/2024
  • 638 shares on 01/25/2025
  • 209 shares on 01/26/2025
  • 4,766 shares on 01/29/2026
• Past 3-Month Activity: No other sales reported in the preceding three months.

Market Impact & Significance

• Trading Significance: Low.
• With approximately 1.91 billion shares outstanding, this proposed sale of 6,000 ADSs represents a negligible fraction of the company's total float.
• The disposition reflects routine portfolio monetization of vested equity-based compensation rather than an atypical or urgent liquidation.