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Moderna Executive Stakes Trimmed Even Before Latest Lockup Lifts

Photographer: Adam Glanzman/Bloomberg

Moderna Inc. executives have been continuing a slow unwind of their positions -- even though a lockup remains in place until Thursday.

After a $1.3 billion share sale in May, the vaccine developer’s second cash raise this year, early investors and Moderna management were once again restricted from selling shares. On June 18, those insiders will get a fresh chance to cash in on Moderna’s stratospheric rise, but similar to the prior offering, a handful of the company’s executives have already taken advantage of another way to sell: 10b5-1 trading plans.