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AstraZeneca PLC (LSE:LON:AZN) has reported that Pascal Soriot, the company’s Chief Executive Officer, acquired 89,962 ordinary shares following the vesting of a performance-based award on Monday. The award, part of the AstraZeneca (NASDAQ:AZN) Performance Share Plan (AZPSP), was initially granted on March 6, 2020, with a three-year performance period followed by a two-year holding period. The transaction comes as AstraZeneca, currently valued at $241.3 billion, trades at $78.11 per share. According to InvestingPro analysis, the stock shows potential for upside based on its Fair Value estimates.
The performance conditions attached to the AZPSP award led to 97% of the shares vesting, with the remainder lapsing. Dividends accrued during the performance and holding periods were reinvested, and a portion of the shares was withheld to cover tax obligations.
For taxation purposes, the value of AstraZeneca’s ordinary share at the time of vesting was determined to be 12,062 pence per share, based on the closing price on the last trading day before the vesting date.
AstraZeneca, headquartered in Cambridge, UK, is a global biopharmaceutical company engaged in the discovery, development, and commercialization of prescription medicines across various therapeutic areas. The company operates in over 125 countries and emphasizes scientific research in its operations.
This transaction was conducted outside a trading venue and has been disclosed in accordance with the EU Market Abuse Regulation, as incorporated into UK law. The announcement is based on a press release statement.
In other recent news, AstraZeneca has reported positive results from its MATTERHORN Phase III trial, which evaluated the efficacy of Imfinzi (durvalumab) in combination with FLOT chemotherapy for early-stage gastric and gastroesophageal junction cancers. The trial demonstrated a statistically significant improvement in event-free survival for patients receiving the Imfinzi-based regimen compared to chemotherapy alone. This marks a notable advancement in treatment options for gastric cancer, which is the fifth leading cause of cancer death worldwide. Additionally, AstraZeneca has announced that its 2025 Annual General Meeting will be held on April 11, with an agenda that includes routine corporate matters and shareholder voting on various proposals.
In another development, AstraZeneca disclosed that top executives, including CEO Pascal Soriot and CFO Aradhana Sarin, have acquired shares following the vesting of a deferred bonus plan. The shares were part of the AstraZeneca Deferred Bonus Plan, which involved deferring portions of annual bonuses into ordinary shares. Furthermore, AstraZeneca executives were granted share awards under the company’s annual bonus and long-term incentive plans. These awards are designed to align the interests of the company’s leadership with those of its shareholders.
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