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BioWorld - Monday, February 2, 2026
Home » Stock sales amid vaccine news renew calls for 10b5-1 ‘cooling-off’ period
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Stock sales amid vaccine news renew calls for 10b5-1 ‘cooling-off’ period

Nov. 19, 2020
By Mari Serebrov
Concerns about biopharma executives profiting from stock sales aligned with releases of promising COVID-19 vaccine results could result in Congress requiring a cooling-off period for executives’ 10b5-1 plans that provide a safe harbor to insider trading. Testifying in a Nov. 17 hearing before the Senate Banking Committee, SEC Chair Jay Clayton suggested a mandatory period of four to six months between implementing or materially changing a 10b5-1 plan and the first allowed stock sale. He added that the cooling-off period should at least cover a full quarter.
Medical technology Regulatory Coronavirus Vaccine U.S.

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