Form 4: Innoviva Director Pavel Raifeld Reports Stock and Option Awards

Director Pavel Raifeld reports acquisition of Innoviva stock through an employee stock purchase plan and grants of restricted stock units and non-statutory stock options.

Summary

• Pavel Raifeld, a director of Innoviva, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On November 15, 2024, Raifeld acquired 937 shares of common stock through the Employee Stock Purchase Plan.
• On March 14, 2025, Raifeld acquired 37,377 shares of common stock at a price of $17.39 per share.
• Raifeld was also granted a time-vested restricted stock unit (RSU) for 37,377 shares, vesting in installments starting February 20, 2026.
• Additionally, Raifeld received a grant of non-statutory stock options for 243,750 shares with an exercise price of $17.39, also vesting in installments starting February 20, 2026.
• Following these transactions, Raifeld beneficially owns 49,980 shares of common stock and 1,068,750 derivative securities.

Sentiment

Score: 6

Explanation: The document reflects standard insider transactions. It's neutral to slightly positive as it indicates continued investment by a director.

Positives

• The acquisition of shares through the employee stock purchase plan and the grant of RSUs and stock options could be seen as a positive sign of confidence in the company's future by a director.

Future Outlook

The vesting schedule for the RSUs and stock options extends over several years, contingent on continued service and potential change in control scenarios.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Comparison to Industry Standards

• Stock option and RSU grants are common compensation practices for directors and executives in publicly traded companies, aligning their interests with those of shareholders.
• The vesting schedules and terms described are fairly standard, with acceleration clauses tied to change in control or involuntary termination events.

Stakeholder Impact

• The transactions may have a minor positive impact on shareholder sentiment, reflecting insider confidence.

Key Dates

Keywords

Form 4, beneficial ownership, stock options, restricted stock units, Innoviva, Raifeld, INVA, director