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Both Moderna and Pfitzer report first-quarter earnings the first few days of May, so within the next few days they would be entering an exclusionary period where they would not be allowed to take any action on their stocks. I would suspect at least some "negative guidance" in their earnings report that may not be the best for the value of the stock.
If they waited until the absolute last moment there would be huge red flags being waived, so they likely tried to do it far enough away to try and fall under the radar.
They probably were on their way out anyway and figured they should get out why the getting is good.
Both Moderna and Pfitzer report first-quarter earnings the first few days of May, so within the next few days they would be entering an exclusionary period where they would not be allowed to take any action on their stocks. I would suspect at least some "negative guidance" in their earnings report that may not be the best for the value of the stock.
If they waited until the absolute last moment there would be huge red flags being waived, so they likely tried to do it far enough away to try and fall under the radar.
They probably were on their way out anyway and figured they should get out why the getting is good.
If they were intelligent enough to quit before it hits the fan, they're intelligent enough to offload their stock before they quit.
“It is not a coincidence in my mind,” Josh Crist, co-managing partner at executive search firm Crist|Kolder Associates, wrote in an email of the one-two punch of C-suite news. “Both Frank [D’Amelio at Pfizer] and David [Meline at Moderna] are of retirement age … so with a bit of a ‘light at the end of the tunnel’ and both companies stabilizing within their new normal, now is the time to make the move.”
Pfizer announced D’Amelio’s retirement in November and at that time said it was initiating an external search for a new CFO.
Both companies named replacement CFOs last Monday.
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