IDD Daily Brief: Monday, Oct 26, 2026 — Travelers CEO sells $35 million as AbbVie wins Skyrizi at-home start

> “Find your pull in life and figure out how to make your journey go well.” — Ray Dalio

The Big Picture

• Travelers' CEO cashed out a big option grant. Chairman and CEO Alan Schnitzer exercised options on 298,368 shares and sold 88,900 shares for about $35.3 million, ending with the same 303,124.499-share direct stake he held before.

• AbbVie won an at-home start for Skyrizi in Crohn's disease. The FDA approved a subcutaneous induction regimen that lets adults with moderately to severely active Crohn's disease begin treatment with an on-body injector instead of IV infusions.

• A packed week is ahead. The Federal Reserve's policy committee meets Tuesday and Wednesday, and Thursday brings the advance estimate of third-quarter GDP plus September personal income and outlays.

Since Friday

Most of the news since Friday's Week in Review came from filings and announcements made late Friday. Five stories cleared the IDD newsroom's bar: one drug approval and four insider sales, all detailed below.

Company News

• AbbVie (ABBV) said the FDA approved 720 mg subcutaneous Skyrizi doses at weeks 0, 2, 4 and 8, followed by the same on-body injector every eight weeks, according to the company's press release. In the Phase 3 AFFIRM trial, 56% of patients on subcutaneous Skyrizi reached clinical remission at week 12 versus 30% on placebo, and 43% had an endoscopic response versus 15%. The FDA also approved updated tuberculosis language across all of Skyrizi's approved uses.

Insider & Institutional Watch

• Travelers (TRV): CEO Alan Schnitzer exercised options on 298,368 shares at $132.58 on Oct. 21, had 209,468 shares withheld and sold the remaining 88,900 for about $35.27 million, according to a Form 4 filing. The filing did not mark the trades as made under a Rule 10b5-1 plan.

• Snowflake (SNOW): Director Benoit Dageville sold 50,000 shares through The Snow Trust on Oct. 21 at a weighted average of $321.74, about $16.1 million, and gifted 16,668 shares the same day under a 10b5-1 plan, according to a Form 4 filing. The trust still held 2,301,543 shares.

• Elevance Health (ELV): CFO Mark Kaye sold 10,584 shares on Oct. 22 for about $4.66 million, roughly 35% of his direct holdings, according to a Form 4 filing. He directly held 19,919 shares afterward.

• PepsiCo (PEP): Chairman and CEO Ramon Laguarta sold 30,000 shares on Oct. 21 at a weighted average of $135.1297, about $4.05 million, according to a Form 4 filing. He directly owned 491,645 shares afterward.

The Week Ahead

• Tuesday and Wednesday, Oct. 27 and 28: The Federal Reserve's Federal Open Market Committee meets, according to the Fed's meeting calendar.

• Thursday, Oct. 29: The Bureau of Economic Analysis releases its advance estimate of third-quarter GDP and September personal income and outlays. CRH plans to report third-quarter results with updated 2026 guidance the same day, according to its 8-K.

• Friday, Oct. 30: The Bureau of Labor Statistics releases the Employment Cost Index for the third quarter.

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.