George Yancoppoulos, who serves as board co-chair, president, and chief scientific officer at Regeneron Pharmaceuticals (REGN), has been an active seller of company stock over the past two years, with no open-market purchases recorded during that period. Across 49 total Form 4 filings, all involving REGN, his transactions totaled roughly $127.8 million in sales, while his buy value stood at zero. The most concentrated selling occurred on May 15–16, 2024, when he executed 19 open-market sales (code S) worth approximately $48.5 million combined, with individual transactions ranging from about $52,000 to $9.0 million. That two-day burst accounts for the bulk of his recent divestment activity and reflects a clear disposition bias.
More recent filings show a different pattern, dominated by non-discretionary events rather than open-market decisions. On December 9, 2025, Yancoppoulos exercised options (code M) valued at $81.6 million and simultaneously had shares withheld to cover taxes (code F) worth $92.5 million. A similar but smaller transaction occurred on December 31, 2025, with an option exercise valued at zero and $22.1 million in shares withheld for tax obligations. These year-end filings are mechanical in nature—the option exercises carry no cash value, and the F transactions are automatic withholdings tied to equity compensation, not voluntary sales. He also made two gifts (code G) in June 2024, which involved no monetary exchange.
The overall trajectory is one of consistent reduction in REGN holdings, but the character of that reduction has shifted. The May 2024 cluster of sales was clearly discretionary and substantial, while the late-2025 activity stems from the vesting and exercise of equity awards, with shares automatically surrendered to satisfy tax liabilities. No purchases have been reported at any point, leaving the filing history with a one-directional flow: out of the stock.
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