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[Form 4] Biogen Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Form 4 overview: On 06/17/2025 Biogen (BIIB) director Menelas N. Pangalos received 2,370 restricted stock units (RSUs) at no cost. The units convert to common stock on the earlier of the company’s next annual meeting or 06/17/2026. After the award, the director beneficially owns 2,370 BIIB shares directly.

No shares were sold or disposed of; the filing reflects standard director compensation. Given Biogen’s large share count, the issuance is immaterial to dilution or valuation and therefore neutral for investors.

Panoramica del Modulo 4: Il 17/06/2025, il direttore di Biogen (BIIB), Menelas N. Pangalos, ha ricevuto 2.370 unità azionarie ristrette (RSU) senza alcun costo. Le unità si convertiranno in azioni ordinarie alla data della prossima assemblea annuale della società o il 17/06/2026, a seconda di quale evento si verifichi per primo. Dopo l'assegnazione, il direttore detiene direttamente 2.370 azioni BIIB.

Non sono state vendute o cedute azioni; la comunicazione riflette la normale retribuzione per i direttori. Considerando l'elevato numero di azioni di Biogen, l'emissione è irrilevante in termini di diluizione o valutazione e quindi neutra per gli investitori.

Resumen del Formulario 4: El 17/06/2025, el director de Biogen (BIIB), Menelas N. Pangalos, recibió 2,370 unidades restringidas de acciones (RSU) sin costo alguno. Las unidades se convertirán en acciones comunes en la fecha de la próxima junta anual de la compañía o el 17/06/2026, lo que ocurra primero. Tras la adjudicación, el director posee directamente 2,370 acciones de BIIB.

No se vendieron ni dispusieron acciones; la presentación refleja la compensación estándar para directores. Dado el elevado número de acciones de Biogen, la emisión es insignificante en cuanto a dilución o valoración, por lo que es neutral para los inversores.

Form 4 개요: 2025� 6� 17�, 바이오젠(BIIB) 이사 메넬라스 N. 팡갈로스� 비용 없이 2,370개의 제한 주식 단위(RSU)� 받았습니�. � 단위들은 회사� 다음 연례 총회� 또는 2026� 6� 17� � 빠른 시점� 보통주로 전환됩니�. 수여 � 이사� 직접 2,370 BIIB 주식� 보유하게 됩니�.

주식은 매도되거� 처분되지 않았으며, � 보고� 표준 이사 보상� 반영합니�. 바이오젠� 주식 수가 많기 때문� 이번 발행은 희석이나 가� 평가� 미미� 영향만을 미치�, 투자자에게는 중립적입니다.

Présentation du formulaire 4 : Le 17/06/2025, le directeur de Biogen (BIIB), Menelas N. Pangalos, a reçu 2 370 unités d'actions restreintes (RSU) sans frais. Ces unités se convertiront en actions ordinaires lors de la prochaine assemblée générale annuelle de la société ou le 17/06/2026, selon la première échéance. Après l’attribution, le directeur détient directement 2 370 actions BIIB.

Aucune action n’a été vendue ou cédée ; le dépôt reflète la rémunération habituelle des administrateurs. Étant donné le grand nombre d’actions de Biogen, cette émission est insignifiante en termes de dilution ou d’évaluation, et donc neutre pour les investisseurs.

Überblick über Formular 4: Am 17.06.2025 erhielt Menelas N. Pangalos, Direktor von Biogen (BIIB), 2.370 Restricted Stock Units (RSUs) kostenfrei. Die Einheiten werden zu Stammaktien umgewandelt am früheren Zeitpunkt der nächsten Jahreshauptversammlung des Unternehmens oder am 17.06.2026. Nach der Zuteilung besitzt der Direktor direkt 2.370 BIIB-Aktien.

Es wurden keine Aktien verkauft oder veräußert; die Meldung spiegelt die übliche Vergütung für Direktoren wider. Aufgrund der großen Aktienanzahl von Biogen ist die Ausgabe für die Verwässerung oder Bewertung unerheblich und somit neutral für Investoren.

Positive
  • None.
Negative
  • None.

Insights

TL;DR: Routine RSU grant aligns director incentives; governance sound, financial impact negligible.

This Form 4 discloses a single equity award of 2,370 RSUs to Director Menelas Pangalos. The grant follows Biogen’s standard annual board compensation program and vests within one year. No dispositions occurred, and ownership remains direct. With roughly 145 million shares outstanding, the grant represents less than 0.002% dilution—far below any materiality threshold. From a governance perspective, periodic equity compensation is expected and supports alignment between directors and shareholders. No red flags or unusual structures are observed.

TL;DR: Insider activity is neutral; 2,370-share award too small to influence BIIB’s supply-demand dynamics.

The transaction neither signals bullish insider buying nor bearish selling—it is a non-cash compensation grant. The absence of share sales or a 10b5-1 plan suggests the director has not monetized holdings. Position size is immaterial relative to Biogen’s daily trading volume and market capitalisation, so liquidity and valuation effects are nil. Investors can treat this filing as routine housekeeping with no need to adjust models or position sizing.

Panoramica del Modulo 4: Il 17/06/2025, il direttore di Biogen (BIIB), Menelas N. Pangalos, ha ricevuto 2.370 unità azionarie ristrette (RSU) senza alcun costo. Le unità si convertiranno in azioni ordinarie alla data della prossima assemblea annuale della società o il 17/06/2026, a seconda di quale evento si verifichi per primo. Dopo l'assegnazione, il direttore detiene direttamente 2.370 azioni BIIB.

Non sono state vendute o cedute azioni; la comunicazione riflette la normale retribuzione per i direttori. Considerando l'elevato numero di azioni di Biogen, l'emissione è irrilevante in termini di diluizione o valutazione e quindi neutra per gli investitori.

Resumen del Formulario 4: El 17/06/2025, el director de Biogen (BIIB), Menelas N. Pangalos, recibió 2,370 unidades restringidas de acciones (RSU) sin costo alguno. Las unidades se convertirán en acciones comunes en la fecha de la próxima junta anual de la compañía o el 17/06/2026, lo que ocurra primero. Tras la adjudicación, el director posee directamente 2,370 acciones de BIIB.

No se vendieron ni dispusieron acciones; la presentación refleja la compensación estándar para directores. Dado el elevado número de acciones de Biogen, la emisión es insignificante en cuanto a dilución o valoración, por lo que es neutral para los inversores.

Form 4 개요: 2025� 6� 17�, 바이오젠(BIIB) 이사 메넬라스 N. 팡갈로스� 비용 없이 2,370개의 제한 주식 단위(RSU)� 받았습니�. � 단위들은 회사� 다음 연례 총회� 또는 2026� 6� 17� � 빠른 시점� 보통주로 전환됩니�. 수여 � 이사� 직접 2,370 BIIB 주식� 보유하게 됩니�.

주식은 매도되거� 처분되지 않았으며, � 보고� 표준 이사 보상� 반영합니�. 바이오젠� 주식 수가 많기 때문� 이번 발행은 희석이나 가� 평가� 미미� 영향만을 미치�, 투자자에게는 중립적입니다.

Présentation du formulaire 4 : Le 17/06/2025, le directeur de Biogen (BIIB), Menelas N. Pangalos, a reçu 2 370 unités d'actions restreintes (RSU) sans frais. Ces unités se convertiront en actions ordinaires lors de la prochaine assemblée générale annuelle de la société ou le 17/06/2026, selon la première échéance. Après l’attribution, le directeur détient directement 2 370 actions BIIB.

Aucune action n’a été vendue ou cédée ; le dépôt reflète la rémunération habituelle des administrateurs. Étant donné le grand nombre d’actions de Biogen, cette émission est insignifiante en termes de dilution ou d’évaluation, et donc neutre pour les investisseurs.

Überblick über Formular 4: Am 17.06.2025 erhielt Menelas N. Pangalos, Direktor von Biogen (BIIB), 2.370 Restricted Stock Units (RSUs) kostenfrei. Die Einheiten werden zu Stammaktien umgewandelt am früheren Zeitpunkt der nächsten Jahreshauptversammlung des Unternehmens oder am 17.06.2026. Nach der Zuteilung besitzt der Direktor direkt 2.370 BIIB-Aktien.

Es wurden keine Aktien verkauft oder veräußert; die Meldung spiegelt die übliche Vergütung für Direktoren wider. Aufgrund der großen Aktienanzahl von Biogen ist die Ausgabe für die Verwässerung oder Bewertung unerheblich und somit neutral für Investoren.

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).
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*
Pangalos Menelas N

(Last) (First) (Middle)
C/O BIOGEN INC. 225 BINNEY

(Street)
CAMBRIDGE MA 02142

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BIOGEN INC. [ BIIB ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025
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
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
Restricted Stock Unit $0 06/17/2025 A 2,370 (1) 06/17/2026 Common Stock 2,370 $0 2,370 D
Explanation of Responses:
1. The restricted stock units vest on the earlier of (i) the next annual meeting or (ii) the anniversary of the date of grant of June 17, 2025.
/s/ Wendell Taylor, attorney-in-fact for Dr. Pangalos 06/18/2025
** 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.

FAQ

What insider transaction did BIIB report on 18-Jun-2025?

Biogen disclosed that Director Menelas Pangalos received 2,370 restricted stock units on 17-Jun-2025.

When do the 2,370 RSUs granted to Dr. Pangalos vest?

They vest on the earlier of Biogen’s next annual meeting or 06/17/2026.

Did the Form 4 show any BIIB shares sold by the director?

No. The filing reports no dispositions; only an RSU award was made.

How many Biogen shares does Dr. Pangalos own after the grant?

After the transaction he beneficially owns 2,370 common shares directly.

Was the transaction made under a Rule 10b5-1 trading plan?

The Form 4 does not indicate a 10b5-1 plan; the checkbox was left blank.
Biogen Inc

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Biological Products, (no Disgnostic Substances)
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