Form 4: Innoviva Director Odysseas Kostas D Acquires Shares and Options

Director Odysseas Kostas D of Innoviva, Inc. reports acquisition of common stock and stock options following the company's annual meeting.

Summary

• On June 17, 2024, Odysseas Kostas D, a director of Innoviva, Inc., acquired 13,923 shares of common stock.
• These shares were acquired at a price of $0.
• Following this transaction, Mr. Kostas beneficially owns 122,625 shares of Innoviva common stock.
• Additionally, Mr. Kostas acquired 10,000 non-statutory stock options with an exercise price of $16.16.
• These options vest at the sooner of the next annual stockholder meeting or the one-year anniversary of the grant date and expire on June 16, 2034.
• Following this transaction, Mr. Kostas beneficially owns 30,000 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects standard compensation practices. The acquisition of shares and options by a director is generally viewed positively, but it's a routine event.

Positives

• The acquisition of shares and options by a director signals confidence in the company's future prospects.

Future Outlook

The restricted stock units and options will vest at the sooner of the next annual stockholder meeting or the one-year anniversary of 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 can influence investor sentiment.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder confidence.

Key Dates