No actionable signal. CEO's open-market sale is de minimis and accompanied by a large tax-withholding disposition tied to option exercise — a standard pattern. The €600M note offering two weeks prior is a routine refinancing. Monitor next earnings for any guidance changes, but this cluster provides no edge.
Price Chart
Executive Summary
CEO Thomas Polen executed a multi-leg transaction on June 1: exercised 20,209 options at $126.16, surrendered 17,445 shares to the issuer for tax withholding ($2.55M), and sold 2,764 shares on the open market ($405K). EVP Peter Menziuso received a 14,258-share grant. The open-market sale is small relative to BDX's $39.8B market cap (0.001%), and the tax-withholding disposition is non-discretionary. The cluster is dominated by non-cash events and a routine option exercise, not a bearish signal.
Key Financial Metrics
Key Facts
- CEO Polen exercised 20,209 options at $126.16/share ($2.55M intrinsic value) on June 1
- CEO surrendered 17,445 shares to issuer for tax withholding at $146.15/share ($2.55M) — non-discretionary
- CEO sold 2,764 shares on open market at $146.35/share ($405K) — 0.001% of market cap
- EVP Menziuso received a grant of 14,258 shares at $0 — non-cash compensation
- Total open-market sale value ($416K) is trivial relative to $39.8B market cap
- The 8-K filed May 20 (14 days prior) disclosed a €600M 3.855% note issuance due 2033 — a routine refinancing, not a material new event
Financial Impact
Open-market sales total $416K, or ~0.001% of BDX's $39.8B market cap — immaterial
Risk Factors
- CEO's option exercise and sale could be misinterpreted as bearish by retail traders
- No material risk identified from this cluster alone
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BDX-1780505094756 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Insider Cluster | $183.40 $182.91 | ▼ −0.27% | ▲ +1.72% | $176.31 (−3.87%) |
Jul 22, 2026 10w ago | 8-K | $153.16 $187.60 | ▲ +22.49% | ▲ +19.59% | $176.31 (+15.11%) |
Jun 27, 2026 13w ago | Insider Cluster | $155.19 $156.36 | ▲ +0.75% | ▲ +1.03% | $176.31 (+13.61%) |
Jun 27, 2026 13w ago | Insider Cluster | $155.19 $156.36 | ▲ +0.75% | ▲ +1.03% | $176.31 (+13.61%) |
Jun 3, 2026 17w ago | Insider Cluster | $145.54 $152.90 | ▲ +5.06% | ▲ +6.18% | $176.31 (+21.15%) |
May 29, 2026 18w ago | 8-K | $146.96 $155.92 | ▲ +6.10% | ▲ +9.73% | $176.31 (+19.97%) |
Apr 2, 2026 26w ago | 8-K | $155.23 $146.15 | ▼ −5.85% | ▼ −14.83% | $176.31 (+13.58%) |
Mar 31, 2026 26w ago | Court Ruling | $157.23 $145.31 | ▼ −7.58% | ▼ −17.00% | $176.31 (+12.14%) |
Feb 25, 2026 31w ago | 8-K | $176.49 $157.17 | ▼ −10.95% | ▼ −4.54% | $176.31 (−0.10%) |
US Market Status
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