Matthew Ronsheim - Jan 18, 2024 Form 4 Insider Report for Innoviva, Inc. (INVA)

Role
Officer
Signature
/s/ Matthew Ronsheim
Stock symbol
INVA
Transactions as of
Jan 18, 2024
Transactions value $
-$25,680
Form type
4
Date filed
1/22/2024, 09:16 PM
Previous filing
Jan 10, 2024
Next filing
Feb 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INVA Common Stock Tax liability -$25.7K -1.6K -5.26% $16.05 28.8K Jan 18, 2024 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction INVA Nonqualified Stock Option Award $0 +60K +181.27% $0.00 93.1K Jan 18, 2024 Common Stock 60K $16.05 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were withheld by the Issuer to satisfy income tax withholding obligations associated with the quarterly vesting of previously granted employee equity grants.
F2 25% of the options will vest on February 20, 2025 and the balance will vest in twelve (12) substantially equal installments thereafter on each three (3) month anniversary of the initial vesting date, in each case, subject to Dr. Ronsheim's continuous service through the applicable vesting date, with accelerated vesting (i) in the event of a "change in control" (as defined in the Issuer's 2012 Equity Incentive Plan) in which the options are not assumed or replaced, or (ii) in the event that Dr. Ronsheim experiences a termination of employment by the Innoviva, Inc. without "cause" or by Dr. Ronsheim for "good reason" (each as defined in Dr. Ronsheim's employment agreement) within 24 months following a "change in control," subject to an effective release of claims.

Remarks:

Dr. Ronsheim is President of Innoviva Specialty Therapeutics, Inc. which is a wholly owned subsidiary of Innoviva Specialty Therapeutics Holdings, LLC, which is a wholly owned subsidiary of Innoviva, Inc.