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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鈥檚 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鈥檚 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 unit脿 azionarie ristrette (RSU) senza alcun costo. Le unit脿 si convertiranno in azioni ordinarie alla data della prossima assemblea annuale della societ脿 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 猫 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, recibi贸 2,370 unidades restringidas de acciones (RSU) sin costo alguno. Las unidades se convertir谩n en acciones comunes en la fecha de la pr贸xima junta anual de la compa帽铆a o el 17/06/2026, lo que ocurra primero. Tras la adjudicaci贸n, el director posee directamente 2,370 acciones de BIIB.

No se vendieron ni dispusieron acciones; la presentaci贸n refleja la compensaci贸n est谩ndar para directores. Dado el elevado n煤mero de acciones de Biogen, la emisi贸n es insignificante en cuanto a diluci贸n o valoraci贸n, por lo que es neutral para los inversores.

Form 4 臧滌殧: 2025雲� 6鞗� 17鞚�, 氚旍澊鞓れ牋(BIIB) 鞚挫偓 氅旊劕霛检姢 N. 韺￡皥搿滌姢電� 牍勳毄 鞐嗢澊 2,370臧滌潣 鞝滍暅 欤检嫕 雼渼(RSU)毳� 氚涭晿鞀惦媹雼�. 鞚� 雼渼霌れ潃 須岇偓鞚� 雼れ潓 鞐半 齑濏殞鞚� 霕愲姅 2026雲� 6鞗� 17鞚� 欷� 牍犽ジ 鞁滌爯鞐� 氤错喌欤茧 鞝勴櫂霅╇媹雼�. 靾橃棳 頉� 鞚挫偓電� 歆侅爲 2,370 BIIB 欤检嫕鞚� 氤挫湢頃橁矊 霅╇媹雼�.

欤检嫕鞚� 毵る弰霅橁卑雮� 觳橂秳霅橃 鞎婌晿鞙茧┌, 鞚� 氤搓碃電� 響滌 鞚挫偓 氤挫儊鞚� 氚橃榿頃╇媹雼�. 氚旍澊鞓れ牋鞚� 欤检嫕 靾橁皜 毵庩赴 霑岆鞐� 鞚措矆 氚滍枆鞚� 頋劃鞚措倶 臧�旃� 韽夑皜鞐� 氙鸽頃� 鞓來枼毵岇潉 氙胳箻氅�, 韴瀽鞛愳棎瓴岆姅 欷戨鞝侅瀰雼堧嫟.

Pr茅sentation du formulaire 4 : Le 17/06/2025, le directeur de Biogen (BIIB), Menelas N. Pangalos, a re莽u 2 370 unit茅s d'actions restreintes (RSU) sans frais. Ces unit茅s se convertiront en actions ordinaires lors de la prochaine assembl茅e g茅n茅rale annuelle de la soci茅t茅 ou le 17/06/2026, selon la premi猫re 茅ch茅ance. Apr猫s l鈥檃ttribution, le directeur d茅tient directement 2 370 actions BIIB.

Aucune action n鈥檃 茅t茅 vendue ou c茅d茅e ; le d茅p么t refl猫te la r茅mun茅ration habituelle des administrateurs. 脡tant donn茅 le grand nombre d鈥檃ctions de Biogen, cette 茅mission est insignifiante en termes de dilution ou d鈥櫭﹙aluation, et donc neutre pour les investisseurs.

脺berblick 眉ber 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 fr眉heren Zeitpunkt der n盲chsten 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 ver盲u脽ert; die Meldung spiegelt die 眉bliche Verg眉tung f眉r Direktoren wider. Aufgrund der gro脽en Aktienanzahl von Biogen ist die Ausgabe f眉r die Verw盲sserung oder Bewertung unerheblich und somit neutral f眉r 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鈥檚 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鈥攆ar 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鈥檚 supply-demand dynamics.

The transaction neither signals bullish insider buying nor bearish selling鈥攊t 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鈥檚 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 unit脿 azionarie ristrette (RSU) senza alcun costo. Le unit脿 si convertiranno in azioni ordinarie alla data della prossima assemblea annuale della societ脿 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 猫 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, recibi贸 2,370 unidades restringidas de acciones (RSU) sin costo alguno. Las unidades se convertir谩n en acciones comunes en la fecha de la pr贸xima junta anual de la compa帽铆a o el 17/06/2026, lo que ocurra primero. Tras la adjudicaci贸n, el director posee directamente 2,370 acciones de BIIB.

No se vendieron ni dispusieron acciones; la presentaci贸n refleja la compensaci贸n est谩ndar para directores. Dado el elevado n煤mero de acciones de Biogen, la emisi贸n es insignificante en cuanto a diluci贸n o valoraci贸n, por lo que es neutral para los inversores.

Form 4 臧滌殧: 2025雲� 6鞗� 17鞚�, 氚旍澊鞓れ牋(BIIB) 鞚挫偓 氅旊劕霛检姢 N. 韺￡皥搿滌姢電� 牍勳毄 鞐嗢澊 2,370臧滌潣 鞝滍暅 欤检嫕 雼渼(RSU)毳� 氚涭晿鞀惦媹雼�. 鞚� 雼渼霌れ潃 須岇偓鞚� 雼れ潓 鞐半 齑濏殞鞚� 霕愲姅 2026雲� 6鞗� 17鞚� 欷� 牍犽ジ 鞁滌爯鞐� 氤错喌欤茧 鞝勴櫂霅╇媹雼�. 靾橃棳 頉� 鞚挫偓電� 歆侅爲 2,370 BIIB 欤检嫕鞚� 氤挫湢頃橁矊 霅╇媹雼�.

欤检嫕鞚� 毵る弰霅橁卑雮� 觳橂秳霅橃 鞎婌晿鞙茧┌, 鞚� 氤搓碃電� 響滌 鞚挫偓 氤挫儊鞚� 氚橃榿頃╇媹雼�. 氚旍澊鞓れ牋鞚� 欤检嫕 靾橁皜 毵庩赴 霑岆鞐� 鞚措矆 氚滍枆鞚� 頋劃鞚措倶 臧�旃� 韽夑皜鞐� 氙鸽頃� 鞓來枼毵岇潉 氙胳箻氅�, 韴瀽鞛愳棎瓴岆姅 欷戨鞝侅瀰雼堧嫟.

Pr茅sentation du formulaire 4 : Le 17/06/2025, le directeur de Biogen (BIIB), Menelas N. Pangalos, a re莽u 2 370 unit茅s d'actions restreintes (RSU) sans frais. Ces unit茅s se convertiront en actions ordinaires lors de la prochaine assembl茅e g茅n茅rale annuelle de la soci茅t茅 ou le 17/06/2026, selon la premi猫re 茅ch茅ance. Apr猫s l鈥檃ttribution, le directeur d茅tient directement 2 370 actions BIIB.

Aucune action n鈥檃 茅t茅 vendue ou c茅d茅e ; le d茅p么t refl猫te la r茅mun茅ration habituelle des administrateurs. 脡tant donn茅 le grand nombre d鈥檃ctions de Biogen, cette 茅mission est insignifiante en termes de dilution ou d鈥櫭﹙aluation, et donc neutre pour les investisseurs.

脺berblick 眉ber 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 fr眉heren Zeitpunkt der n盲chsten 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 ver盲u脽ert; die Meldung spiegelt die 眉bliche Verg眉tung f眉r Direktoren wider. Aufgrund der gro脽en Aktienanzahl von Biogen ist die Ausgabe f眉r die Verw盲sserung oder Bewertung unerheblich und somit neutral f眉r 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.

Source:

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鈥檚 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.
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United States
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