Bruce I. Sachs - Jul 14, 2023 Form 4 Insider Report for VERTEX PHARMACEUTICALS INC / MA (VRTX)

Role
Director
Signature
/s/ Christiana Stevenson, Attorney-in-Fact
Stock symbol
VRTX
Transactions as of
Jul 14, 2023
Transactions value $
-$2,534,884
Form type
4
Date filed
7/18/2023, 04:17 PM
Previous filing
May 3, 2023
Next filing
Oct 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRTX Common Stock Options Exercise $1.43M +11.3K +28.13% $127.54 51.3K Jul 17, 2023 Direct
transaction VRTX Common Stock Sale -$603K -1.7K -3.31% $355.54 49.6K Jul 17, 2023 Direct F1, F2, F3
transaction VRTX Common Stock Sale -$2.04M -5.71K -11.53% $356.75 43.8K Jul 17, 2023 Direct F1, F2, F4
transaction VRTX Common Stock Sale -$1.37M -3.84K -8.76% $357.29 40K Jul 17, 2023 Direct F1, F2, F5

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 VRTX Deferred Stock Units Award $43.8K +125 +0.87% $350.79 14.5K Jul 14, 2023 Common Stock 125 Direct F6
transaction VRTX Stock Option (Right to Buy) Options Exercise $0 -11.3K -50% $0.00 11.3K Jul 17, 2023 Common Stock 11.3K $127.54 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Transaction made pursuant to Mr. Sachs' company approved trading plan under Rule 10b5-1, which was entered into on 11/04/2022.
F2 Mr. Sachs undertakes to provide (upon request by the SEC staff, the issuer or a security holder of the issuer) full information regarding the number of shares sold at each separate price.
F3 Open market sales reported on this line occurred at a weighted average price of $355.54 (range $355.00 to $355.97).
F4 Open market sales reported on this line occurred at a weighted average price of $356.75 (range $356.00 to $356.99).
F5 Open market sales reported on this line occurred at a weighted average price of $357.29 (range $357.00 to $357.38).
F6 Each deferred stock unit represents one share of common stock and is paid out in common stock upon the earliest to occur of (i) termination of Mr. Sachs' service on our board of directors, (ii) a change of control of our company and (iii) Mr. Sachs' disability or death.
F7 Fully vested.