Ph.D. Noubar B. Afeyan - 11 Dec 2025 Form 4 Insider Report for Moderna, Inc. (MRNA)

Role: Director
Signature: Noubar B. Afeyan, Ph.D. By: /s/ Noubar B. Afeyan, Ph.D.
Issuer symbol: MRNA
Transactions as of: 11 Dec 2025
Net transactions value: -$443,308
Form type: 4
Filing time: 15 Dec 2025, 09:00:03 UTC
Previous filing: 01 May 2025
Next filing: 02 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
AFEYAN NOUBAR	Director	C/O FLAGSHIP PIONEERING, INC., 55 CAMBRIDGE PARKWAY, SUITE 800E, CAMBRIDGE	Noubar B. Afeyan, Ph.D. By: /s/ Noubar B. Afeyan, Ph.D.	15 Dec 2025	0001222012

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MRNA	Common Stock	Options Exercise	$259,998	+23,853	+608%	$10.90	27,777	11 Dec 2025	By Flagship Pioneering, Inc.	F1, F2
transaction	MRNA	Common Stock	Sale	$703,306	-23,853	-86%	$29.48	3,924	11 Dec 2025	By Flagship Pioneering, Inc.	F2
holding	MRNA	Common Stock						3,880,328	11 Dec 2025	By Flagship Ventures Fund IV, L.P.	F3
holding	MRNA	Common Stock						747,897	11 Dec 2025	By Flagship Ventures Fund IV-Rx, L.P.	F4
holding	MRNA	Common Stock						2,224,015	11 Dec 2025	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MRNA	Stock Option (Right to Buy)	Options Exercise	$0	-23,853	-100%	$0.000000	0	11 Dec 2025	Common Stock	23,853	$10.90	By Flagship Pioneering, Inc.	F1, F2, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 11, 2025, Flagship Pioneering, Inc. ("Flagship Pioneering") exercised options to purchase 23,853 shares of the Issuer's Common Stock at $10.90 per share, which options were set to expire on February 23, 2026.
F2	The securities are held directly by Flagship Pioneering. Flagship Pioneering is contractually obligated to transfer and/or remit the proceeds of any sale of shares to Flagship Fund IV, L.P. ("Flagship Fund IV"). The reporting person is the CEO and sole stockholder of Flagship Pioneering and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F3	The securities are held directly by Flagship Fund IV. Flagship Ventures Fund IV General Partner LLC ("Flagship Fund IV GP") is the general partner of Flagship Fund IV. The reporting person is the sole manager of Flagship Fund IV GP and disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F4	The securities are held directly by Flagship Ventures Fund IV-Rx, L.P. ("Flagship Fund IV-Rx"). Flagship Fund IV GP is the general partner of Flagship Fund IV-Rx. The reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F5	The options were fully vested and exercisable.