Form 4: Invivyd Chief Legal Officer Sells Shares for Tax
Insider Transaction Report
Invivyd's Chief Legal Officer, Jill Andersen, reported the sale of common stock to cover tax obligations following the vesting of restricted stock units.
Summary
- Jill Andersen, Invivyd's Chief Legal Officer and Secretary, reported transactions under a Rule 10b5-1 plan.
- On February 15, 2026, 165,000 restricted stock units (RSUs) vested, converting into common stock.
- Subsequently, 32,771 shares were sold on February 17, 2026, at a weighted average price of $1.5396.
- An additional 34,939 shares were sold on February 18, 2026, at a weighted average price of $1.5778.
- These sales were non-discretionary "sell-to-cover" transactions to satisfy tax withholding obligations.
- Following these transactions, Jill Andersen directly beneficially owns 181,736 shares of common stock and 170,000 derivative restricted stock units.
- An additional 500 shares are indirectly owned by her spouse.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event. The transactions are routine 'sell-to-cover' sales for tax purposes, executed under a pre-arranged plan, and do not indicate a change in insider sentiment regarding the company's future.
Industry Context
StockSavvy.ai notes that 'sell-to-cover' transactions are a common practice for executives to manage tax liabilities arising from equity compensation, and do not typically signal a change in management's outlook on the company's prospects. This is a routine compliance filing.
Stakeholder Impact
- Shareholders: Minimal direct impact as these are routine tax-related sales, not indicative of a change in company fundamentals or insider confidence.
Key Dates
| Date | Description |
|---|---|
| 02/15/2025 | Grant date of the Restricted Stock Unit (RSU) award. |
| 02/20/2025 | Date Rule 10b5-1 plan was adopted by the Reporting Person. |
| 02/15/2026 | Transaction date for the vesting of 165,000 Restricted Stock Units and acquisition of common stock. |
| 02/17/2026 | Transaction date for the sale of 32,771 common shares to cover tax obligations. |
| 02/18/2026 | Transaction date for the sale of 34,939 common shares to cover tax obligations and filing date of the Form 4. |
Recommendation
holdThe filing details routine 'sell-to-cover' transactions by an executive to satisfy tax obligations upon RSU vesting, executed under a pre-arranged 10b5-1 plan. Such transactions are common and generally do not reflect a change in the executive's confidence in the company or its future prospects. Therefore, it does not provide new information that would warrant a change in investment recommendation.
Keywords
Invivyd, IVVD, Form 4, Insider Trading, Restricted Stock Units, RSU, Sell-to-Cover, Stock Sale, Executive Compensation, Jill Andersen, Chief Legal Officer
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.