=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-02-19
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: REGENERON PHARMACEUTICALS, INC. (REGN)
CIK: 0000872589
--- Reporting Owner ---
Name: Zoghbi Huda Y
CIK: 0001681643
Role: Director
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common Stock
Date: 2026-02-19 | Code: M (Exercise of derivative)
Shares: +1,638 | Price: $376.69
Total Value: $617,018.22
Shares Owned After: 3,341 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[Transaction #2]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -49 | Price: $774.68
Total Value: $37,959.32
Shares Owned After: 3,292 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[Transaction #3]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -50 | Price: $775.50
Total Value: $38,775.00
Shares Owned After: 3,242 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[Transaction #4]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -53 | Price: $778.47
Total Value: $41,258.91
Shares Owned After: 3,189 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F2] Represents volume-weighted average price of sales of 53 shares of Company stock on February 19, 2026 at prices ranging from $778.46 to $778.90. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #5]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -208 | Price: $779.55
Total Value: $162,146.40
Shares Owned After: 2,981 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F3] Represents volume-weighted average price of sales of 208 shares of Company stock on February 19, 2026 at prices ranging from $779.10 to $779.98. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #6]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -331 | Price: $780.45
Total Value: $258,328.95
Shares Owned After: 2,650 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F4] Represents volume-weighted average price of sales of 331 shares of Company stock on February 19, 2026 at prices ranging from $780.06 to $780.68. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #7]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -209 | Price: $781.28
Total Value: $163,287.52
Shares Owned After: 2,441 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F5] Represents volume-weighted average price of sales of 209 shares of Company stock on February 19, 2026 at prices ranging from $781.10 to $781.91. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #8]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -298 | Price: $782.10
Total Value: $233,065.80
Shares Owned After: 2,143 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F6] Represents volume-weighted average price of sales of 298 shares of Company stock on February 19, 2026 at prices ranging from $782.01 to $782.91. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #9]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -220 | Price: $783.29
Total Value: $172,323.80
Shares Owned After: 1,923 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F7] Represents volume-weighted average price of sales of 220 shares of Company stock on February 19, 2026 at prices ranging from $783.00 to $783.86. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #10]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -160 | Price: $784.45
Total Value: $125,512.00
Shares Owned After: 1,763 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F8] Represents volume-weighted average price of sales of 160 shares of Company stock on February 19, 2026 at prices ranging from $784.14 to $784.96. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #11]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -56 | Price: $785.61
Total Value: $43,994.16
Shares Owned After: 1,707 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F9] Represents volume-weighted average price of sales of 56 shares of Company stock on February 19, 2026 at prices ranging from $785.60 to $785.75. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
[Transaction #12]
Security: Common Stock
Date: 2026-02-19 | Code: S (Open market sale)
Shares: -4 | Price: $790.00
Total Value: $3,160.00
Shares Owned After: 1,703 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
--- Derivative Transactions ---
[Transaction #1]
Security: Non-Qualified Stock Option (right to buy)
Date: 2026-02-19 | Code: M (Exercise of derivative)
Shares: -1,638 | Price: $0.00
Exercisable: N/A | Expires: 2027-01-03
Shares Owned After: 800 | Ownership: D (Direct)
Footnotes:
[F1] Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
[F10] The stock option vested in three equal annual installments, commencing one year after the date of grant.
--- Footnotes (Complete Index) ---
F1: Disposition/acquisition made pursuant to a plan intended to comply with Rule 10b5-1(c) adopted on November 20, 2025.
F10: The stock option vested in three equal annual installments, commencing one year after the date of grant.
F2: Represents volume-weighted average price of sales of 53 shares of Company stock on February 19, 2026 at prices ranging from $778.46 to $778.90. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F3: Represents volume-weighted average price of sales of 208 shares of Company stock on February 19, 2026 at prices ranging from $779.10 to $779.98. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F4: Represents volume-weighted average price of sales of 331 shares of Company stock on February 19, 2026 at prices ranging from $780.06 to $780.68. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F5: Represents volume-weighted average price of sales of 209 shares of Company stock on February 19, 2026 at prices ranging from $781.10 to $781.91. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F6: Represents volume-weighted average price of sales of 298 shares of Company stock on February 19, 2026 at prices ranging from $782.01 to $782.91. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F7: Represents volume-weighted average price of sales of 220 shares of Company stock on February 19, 2026 at prices ranging from $783.00 to $783.86. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F8: Represents volume-weighted average price of sales of 160 shares of Company stock on February 19, 2026 at prices ranging from $784.14 to $784.96. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
F9: Represents volume-weighted average price of sales of 56 shares of Company stock on February 19, 2026 at prices ranging from $785.60 to $785.75. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on February 19, 2026 at each separate price.
--- Signature ---
/s/ /s/ Huda Y. Zoghbi (2026-02-23)
