---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-112340"
form_type: "8-K"
ticker: "REGN"
cik: "0000872589"
company_name: "REGENERON PHARMACEUTICALS, INC."
filed_at: "2026-09-30T20:14:08+00:00"
generated_at: "2026-10-12T14:05:13.735812+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Regeneron grants Schleifer, Yancopoulos 10-year PSU awards capped at 2.7M/2.9M shares

## Summary
- 2026 PSUs granted Sept 24, 2026 replace annual equity awards for CEO Leonard Schleifer and CSO George Yancopoulos until 2036; no other equity awards permitted before 2036.
- Earnout: 10,000 PSUs per new product BLA/NDA filing, 15,000 per FDA approval, 12,500 per qualifying sBLA/sNDA; 1,800,000 PSUs if New Product Annual Revenues hit $30B.
- Below $10B of new product revenue, no revenue PSUs are earned and activity PSUs cap at 100,000 (CEO)/300,000 (CSO); absolute caps are 2,700,000 and 2,900,000 PSUs.
- Shares cannot be sold until February 2036; a relative TSR modifier vs the NASDAQ Biotechnology Index adjusts earned PSUs by +/-20%; 20% holdback applies before period end.
- Regeneron formed a majority-owned New Subsidiary for a potential non-core opportunity; Schleifer and Yancopoulos each received a partly vesting stake; it has nominal value and no operations yet.

## SEC filing metadata
- accession: 0001104659-26-112340
- form_type: 8-K
- ticker: REGN
- cik: 0000872589
- company_name: REGENERON PHARMACEUTICALS, INC.
- filed_at: 2026-09-30T20:14:08+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/872589/000110465926112340/0001104659-26-112340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/872589/000110465926112340/tm2626090d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-112340
- JSON: https://secwatch.observer/filing/0001104659-26-112340.json
- Plain text: https://secwatch.observer/filing/0001104659-26-112340.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.