Summary
This 8-K filing from Cencora, Inc. (formerly AmerisourceBergen Corporation) reports on the adoption of a pre-arranged stock trading plan by its Chairman, President, and CEO, Steven H. Collis. The plan, established on February 12, 2021, allows Mr. Collis to sell up to 202,181 shares of common stock. A significant portion of these shares, 188,703, are tied to the exercise of vested stock options set to expire in late 2021 and 2022. The plan is designed to comply with Rule 10b5-1, enabling sales during open trading windows while not in possession of material nonpublic information. Importantly, the filing assures investors that Mr. Collis will continue to meet the company's executive stock ownership guidelines even after potential sales under this plan. As of the filing date, he beneficially owned 905,775 shares and possesses additional unvested equity awards. The company indicates that these transactions are not expected to materially alter his overall ownership position, and sales will be publicly disclosed via Form 4 filings.
Key Highlights
- 1CEO Steven H. Collis adopted a Rule 10b5-1 stock trading plan on February 12, 2021.
- 2The plan permits the sale of up to 202,181 shares of Cencora (formerly AmerisourceBergen) common stock.
- 3A substantial portion of shares available for sale (188,703) are linked to the exercise of vested stock options with upcoming expiration dates.
- 4The 10b5-1 plan is a pre-arranged strategy to sell shares during specified periods, adhering to insider trading regulations and avoiding material nonpublic information.
- 5Mr. Collis will maintain compliance with the company's executive stock ownership guidelines, which require holdings valued at at least six times his base salary.
- 6The CEO's overall ownership position is not expected to change materially as a result of this plan.
- 7All transactions under the plan will be reported publicly via Form 4 filings with the SEC.