Form 4: Innoviva Director Mark DiPaolo Reports Stock and Option Grant

Director Mark DiPaolo reports receiving restricted stock units and options from Innoviva, Inc. following the company's 2024 annual meeting of stockholders.

Summary

• On June 17, 2024, Mark DiPaolo, a director of Innoviva, Inc., reported a transaction involving the acquisition of 13,923 shares of common stock and 10,000 non-statutory stock options.
• The shares were acquired as restricted stock units (RSUs) granted upon the conclusion of Innoviva's 2024 annual meeting of stockholders.
• The options have an exercise price of $16.16 and expire on June 16, 2034.
• Both the RSUs and options will vest at the sooner of the next annual stockholder meeting or the one-year anniversary of the grant, contingent upon continuous service as an Outside Director.
• Following the reported transaction, DiPaolo beneficially owns 118,629 shares of Innoviva common stock and 30,000 derivative securities.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing indicating insider activity, which is generally viewed neutrally to slightly positively as it shows alignment of interests. The grant of equity can be seen as a positive sign of confidence in the company's future.

Positives

• The grant of RSUs and options to a director aligns their interests with those of the shareholders.
• The vesting schedule incentivizes continued service and commitment to the company.

Future Outlook

The RSUs and options will vest at the sooner of the next annual stockholder meeting or the one-year anniversary of the grant, subject to the Reporting Person's continuous service as an Outside Director through the applicable vesting date.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is important for maintaining investor confidence.

Stakeholder Impact

• The grant of equity to a director can align their interests with those of shareholders, potentially leading to decisions that benefit the company's long-term value.

Key Dates