Form 4: Innoviva CAO Sells Shares for Tax Obligations

Innoviva's Chief Accounting Officer, Marianne Zhen, disposed of 992 shares of common stock to cover tax obligations associated with the quarterly vesting of employee equity grants.

Summary

• Marianne Zhen, Chief Accounting Officer of Innoviva, Inc. (INVA), reported a disposition of common stock.
• The transaction occurred on November 20, 2025.
• A total of 992 shares were disposed of at a price of $21.16 per share.
• The shares were withheld by Innoviva to satisfy income tax withholding obligations related to the quarterly vesting of previously granted employee equity.
• Following this transaction, Marianne Zhen beneficially owns 48,337 shares of Innoviva common stock directly.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction (shares withheld for tax obligations upon equity vesting). It does not indicate any positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

This filing is purely transactional and does not contain forward-looking statements or guidance.

Industry Context

This type of transaction, where shares are withheld to cover tax liabilities upon the vesting of equity awards, is a common and routine occurrence for executives and employees receiving equity compensation across all industries. It is a non-discretionary event.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon equity vesting is a standard and widely accepted method for managing tax liabilities associated with employee equity compensation across publicly traded companies.
• This is a common practice observed in companies like Apple (AAPL), Microsoft (MSFT), and Google (GOOGL) where executives and employees receive Restricted Stock Units (RSUs) or other equity awards that vest over time.
• The transaction itself does not provide specific comparable company or project results, but rather reflects a standard operational aspect of executive compensation.

Stakeholder Impact

• Shareholders: Minimal impact. This is a routine, non-discretionary transaction for tax purposes and does not reflect a change in the executive's investment thesis or confidence in the company. The number of shares is small relative to the total outstanding.
• Employees: No direct impact beyond the reporting person. It reflects a standard aspect of equity compensation plans.

Key Dates

Keywords

Innoviva, INVA, Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Equity Vesting, Marianne Zhen, Chief Accounting Officer