Pavel Raifeld - May 21, 2021 Form 4 Insider Report for Innoviva, Inc. (INVA)

Role: Chief Executive Officer
Signature: /s/ Pavel Raifeld
Stock symbol: INVA
Transactions as of: May 21, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/25/2021, 06:43 PM
Next filing: May 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	INVA	Common Stock						2.5K	May 21, 2021	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	Nonstatutory Stock Option	Award	$0	+100K	+40%	$0.00	350K	May 21, 2021	Common Stock	100K	$13.17	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 2,500 shares of common stock acquired under the Innoviva, Inc. Employee Stock Purchase Plan on May 15, 2021.
F2	25% of the options will vest on May 20, 2022 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 Mr. Raifeld's continuous service through the applicable vesting date, with accelerated vesting in the event of a "change in control" (as defined in the Issuer's 2012 Equity Incentive Plan) or in the event that Mr. Raifeld experiences an "involuntary termination" (as defined in Mr. Raifeld's option agreement) within 24 months following a "change in control."

Content

Includes 2,500 shares of common stock acquired under the Innoviva, Inc. Employee Stock Purchase Plan on May 15, 2021.

25% of the options will vest on May 20, 2022 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 Mr. Raifeld's continuous service through the applicable vesting date, with accelerated vesting in the event of a "change in control" (as defined in the Issuer's 2012 Equity Incentive Plan) or in the event that Mr. Raifeld experiences an "involuntary termination" (as defined in Mr. Raifeld's option agreement) within 24 months following a "change in control."