Form 4: Invivyd's Chief Legal Officer, Jill Andersen, Reports Stock Option and Restricted Stock Unit Grants

Jill Andersen, Chief Legal Officer and Secretary of Invivyd, Inc., reports the acquisition of stock options and restricted stock units.

Summary

• On February 15, 2025, Jill Andersen, Chief Legal Officer and Secretary of Invivyd, Inc., was granted stock options to purchase 950,000 shares of common stock at an exercise price of $1.61 per share.
• 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.
• Andersen also received 500,000 restricted stock units (RSUs), each representing a right to receive one share of common stock.
• These 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 sentiment is neutral to positive. It reflects standard executive compensation practices, aligning management interests with shareholders through equity ownership. The vesting schedules promote long-term commitment.

Positives

• The grants of stock options and RSUs align the interests of the Chief Legal Officer with those of the shareholders.
• The vesting schedules incentivize continued service and contribution to the company's success.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the stock options and RSUs.

Industry Context

Grants of stock options and restricted stock units are common practices for incentivizing and retaining key executives in publicly traded companies, particularly in the biotechnology sector.

Comparison to Industry Standards

• Equity compensation packages for Chief Legal Officers in biotech companies typically include a mix of stock options and restricted stock units.
• The size of the grants is likely determined by factors such as company size, stage of development, and individual performance.
• Vesting schedules are generally structured to incentivize long-term commitment, with three-year vesting for options and shorter vesting periods for RSUs being common.

Stakeholder Impact

• Shareholders: The equity grants align management's interests with shareholder value creation.
• Employees: The grants may contribute to employee morale and retention by demonstrating a commitment to rewarding key personnel.

Key Dates