Form 4: Invivyd, Inc. Executive Timothy Edward Lee Reports Stock Option and Restricted Stock Unit Grants

Chief Commercial Officer Timothy Edward Lee reports the acquisition of stock options and restricted stock units in Invivyd, Inc.

Summary

• Timothy Edward Lee, Chief Commercial Officer of Invivyd, Inc., filed a Form 4 disclosing changes in beneficial ownership.
• On February 15, 2025, Lee was granted stock options for 950,000 shares of common stock at an exercise price of $1.61.
• These options vest over a three-year period, with 1/36th of the shares vesting monthly starting one month after the grant date, contingent upon continuous service.
• Lee also received 300,000 restricted stock units (RSUs), each representing a right to receive one share of common stock.
• The RSUs vest over an eighteen-month period, with one-third vesting every six months following the grant date, also contingent upon continuous service.
• Shares of common stock will automatically be sold to satisfy the Reporting Person's tax withholding obligations in a non-discretionary transaction.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, which is generally viewed neutrally to positively as it aligns management interests with shareholders. The sentiment is moderately positive due to the incentive structure created by the vesting schedules.

Positives

• The grant of stock options and RSUs aligns the executive's interests with those of the shareholders.
• The vesting schedules incentivize continued service and contribution to the company's success.

Future Outlook

The vesting of the stock options and RSUs is contingent upon the Reporting Person's continuous service.

Industry Context

Stock option and RSU grants are common forms of executive compensation in the biotechnology industry, used to attract and retain talent and align their interests with those of shareholders.

Comparison to Industry Standards

• Executive compensation packages, including stock options and RSUs, are common in the biotech industry.
• Companies like Amgen, Gilead, and Regeneron use similar equity-based compensation to incentivize their executives.
• The vesting schedules (3 years for options, 18 months for RSUs) are fairly standard within the industry.

Stakeholder Impact

• Shareholders: The grants align executive interests with shareholder value creation.
• Employees: The grants may serve as a positive signal regarding the company's commitment to its leadership.

Key Dates