Marianne Zhen - Mar 5, 2024 Form 4 Insider Report for Innoviva, Inc. (INVA)

Signature
/s/ Marianne Zhen
Stock symbol
INVA
Transactions as of
Mar 5, 2024
Transactions value $
$159,990
Form type
4
Date filed
3/7/2024, 07:00 PM
Previous filing
Feb 22, 2024
Next filing
May 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INVA Common Stock Award $160K +10.8K +29.21% $14.88 47.6K Mar 5, 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 Non-statutory Stock Option Award $0 +23K +57.56% $0.00 63K Mar 5, 2024 Common Stock 23K $14.88 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted a one time-based restricted stock unit ("RSU"). Twenty-five percent of the shares subject to the RSU shall vest on February 20, 2025, 6.25% on May 20, 2025, and an additional 6.25% on the final day of each 3-month period thereafter, provided the Reporting Person has provided continuous service to the Issuer through the applicable vesting date. The grant was approved by the Compensation Committee of the Board of Directors of the Company.
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 Ms. Zhen'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 Ms. Zhen experiences a termination of employment by the Innoviva, Inc. without "cause" or by Ms. Zhen for "good reason" (each as defined in Ms. Zhen's employment agreement) within 24 months following a "change in control," subject to an effective release of claims.