Moderna, Inc. — Director's Dealing 2021

May 4, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Moderna, Inc. (MRNA)
CIK: 0001682852
Period of Report: 2021-04-30

Reporting Person: Bancel Stephane (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-30	Common Stock	S	300	$175.27	Disposed	54946	Indirect
2021-04-30	Common Stock	S	1792	$178.35	Disposed	53154	Indirect
2021-04-30	Common Stock	S	1809	$179.45	Disposed	51345	Indirect
2021-04-30	Common Stock	S	1400	$180.41	Disposed	49945	Indirect
2021-04-30	Common Stock	S	4845	$182.05	Disposed	45100	Indirect
2021-04-30	Common Stock	S	800	$182.84	Disposed	44300	Indirect
2021-04-30	Common Stock	S	100	$183.74	Disposed	44200	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6334868	Direct
Common Stock	7434880	Indirect
Common Stock	9050372	Indirect

Footnotes

F1: This sale was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018.

F2: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $175.21 to $175.34. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

F3: These shares are owned directly by a trust for the benefit of Mr. Bancel's children and of which the trustee is an independent institution. The reporting person disclaims Section 16 beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.

F4: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $177.88 to $178.85. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

F5: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $179.00 to $179.97. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

F6: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $180.02 to $181.02. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

F7: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $181.47 to $182.46. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

F8: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $182.53 to $183.44. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

F9: These shares are owned directly by OCHA LLC ("OCHA"). The reporting person is the majority equity unit holder and the sole managing member of OCHA. The reporting person disclaims Section 16 beneficial ownership of these
securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.

F10: These shares are owned directly by Boston Biotech Ventures, LLC ("Boston Biotech"). The reporting person is the majority equity unit holder and the sole managing member of Boston Biotech. The reporting person disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.