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VRTX insider filing: Dr. Leiden’s 10b5-1 option exercises and sales

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Vertex Pharmaceuticals (VRTX) reported insider transactions by its Executive Chairman and Director, Dr. Jeffrey Leiden. On 11/13/2025 and 11/14/2025, he exercised stock options to acquire Vertex common stock at exercise prices of $91.05 and $86.52 per share, then sold portions of the shares in the open market.

Reported sales included 18,528 shares at a weighted average price of $440.22, 1,160 shares at $441.05, 32,234 shares at $440.30, and 21,330 shares at $441.35, plus smaller additional amounts. After these transactions, Dr. Leiden beneficially owned 24,026 Vertex shares directly and 440 shares through a 401(k), along with vested stock options. The filing notes the trades were made under a company-approved Rule 10b5-1 trading plan entered into on 8/6/2025.

Positive

  • None.

Negative

  • None.
Insider LEIDEN JEFFREY M
Role Executive Chairman
Sold 73,292 shs ($32.29M)
Type Security Shares Price Value
Exercise Stock Option (Right to Buy) 13,835 $0.00 --
Exercise Stock Option (Right to Buy) 39,769 $0.00 --
Exercise Common Stock 13,835 $91.05 $1.26M
Exercise Common Stock 39,769 $86.52 $3.44M
Sale Common Stock 32,234 $440.30 $14.19M
Sale Common Stock 21,330 $441.35 $9.41M
Sale Common Stock 40 $442.00 $18K
Exercise Stock Option (Right to Buy) 19,688 $0.00 --
Exercise Common Stock 19,688 $91.05 $1.79M
Sale Common Stock 18,528 $440.22 $8.16M
Sale Common Stock 1,160 $441.05 $512K
holding Common Stock -- -- --
Holdings After Transaction: Stock Option (Right to Buy) — 1 shares (Direct); Common Stock — 37,861 shares (Direct); Common Stock — 440 shares (Indirect, 401(k))
Footnotes (1)
  1. Transaction made pursuant to Dr. Leiden's company approved trading plan under Rule 10b5-1, which was entered into on 8/6/2025. Dr. Leiden 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. Open market sales reported on this line occurred at a weighted average price of $440.22 (range $440.00 to $440.99). Open market sales reported on this line occurred at a weighted average price of $441.05 (range $441.00 to $441.10). Open market sales reported on this line occurred at a weighted average price of $440.30 (range $440.00 to $440.99). Open market sales reported on this line occurred at a weighted average price of $441.35 (range $441.00 to $441.99). Fully vested.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a 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). See Instruction 10.
1. Name and Address of Reporting Person*
LEIDEN JEFFREY M
(Last) (First) (Middle)
C/O VERTEX PHARMACEUTICALS INCORPORATED
50 NORTHERN AVENUE
(Street)
BOSTON MA 02210
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
VERTEX PHARMACEUTICALS INC / MA [ VRTX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Chairman
3. Date of Earliest Transaction (Month/Day/Year)
11/13/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/13/2025 M 19,688 A $91.05 43,714 D
Common Stock 11/13/2025 S(1) 18,528 D $440.22(2)(3) 25,186 D
Common Stock 11/13/2025 S(1) 1,160 D $441.05(2)(4) 24,026 D
Common Stock 11/14/2025 M 13,835 A $91.05 37,861 D
Common Stock 11/14/2025 M 39,769 A $86.52 77,630 D
Common Stock 11/14/2025 S(1) 32,234 D $440.3(2)(5) 45,396 D
Common Stock 11/14/2025 S(1) 21,330 D $441.35(2)(6) 24,066 D
Common Stock 11/14/2025 S(1) 40 D $442 24,026 D
Common Stock 440 I 401(k)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $91.05 11/13/2025 M 19,688 (7) 02/01/2026 Common Stock 19,688 $0 13,836 D
Stock Option (Right to Buy) $91.05 11/14/2025 M 13,835 (7) 02/01/2026 Common Stock 13,835 $0 1 D
Stock Option (Right to Buy) $86.52 11/14/2025 M 39,769 (7) 02/02/2027 Common Stock 39,769 $0 63,781 D
Explanation of Responses:
1. Transaction made pursuant to Dr. Leiden's company approved trading plan under Rule 10b5-1, which was entered into on 8/6/2025.
2. Dr. Leiden 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.
3. Open market sales reported on this line occurred at a weighted average price of $440.22 (range $440.00 to $440.99).
4. Open market sales reported on this line occurred at a weighted average price of $441.05 (range $441.00 to $441.10).
5. Open market sales reported on this line occurred at a weighted average price of $440.30 (range $440.00 to $440.99).
6. Open market sales reported on this line occurred at a weighted average price of $441.35 (range $441.00 to $441.99).
7. Fully vested.
Remarks:
/s/ Christiana Stevenson, Attorney-in-Fact 11/17/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What does the latest Vertex Pharmaceuticals (VRTX) Form 4 report?

The Form 4 reports that Executive Chairman and Director Dr. Jeffrey Leiden exercised vested stock options and sold Vertex common stock in multiple open market transactions on 11/13/2025 and 11/14/2025.

How many Vertex (VRTX) shares did Dr. Leiden sell and at what prices?

Dr. Leiden reported several open market sales, including 18,528 shares at a weighted average price of $440.22, 1,160 shares at $441.05, 32,234 shares at $440.30, and 21,330 shares at $441.35, plus smaller additional amounts.

What stock options did Dr. Leiden exercise in this Vertex (VRTX) filing?

He exercised vested stock options with exercise prices of $91.05 and $86.52 per share, corresponding to grants covering 19,688 shares, 13,835 shares, and 39,769 shares of Vertex common stock.

How many Vertex (VRTX) shares does Dr. Leiden own after these transactions?

Following the reported transactions, Dr. Leiden beneficially owned 24,026 shares of Vertex common stock directly and 440 shares indirectly through a 401(k) account, in addition to vested stock options.

Were the Vertex (VRTX) insider trades made under a Rule 10b5-1 plan?

Yes. The filing states that the transactions were made under a company-approved Rule 10b5-1 trading plan entered into on 8/6/2025, which is intended to meet the affirmative defense conditions of Rule 10b5-1(c).

What is the role of the reporting person at Vertex Pharmaceuticals (VRTX)?

The reporting person, Dr. Jeffrey Leiden, is identified as both a Director and an Officer of Vertex Pharmaceuticals, serving as Executive Chairman.