Form 4: Invivyd's Chief Scientific Officer, Robert D. Allen III, Reports Stock Option and Restricted Stock Unit Grants

Robert D. Allen III, Chief Scientific Officer of Invivyd, Inc., reports the acquisition of stock options and restricted stock units.

Summary

• On February 15, 2025, Robert D. Allen III, the Chief Scientific Officer of Invivyd, Inc., was granted stock options to purchase 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.
• Allen also received 300,000 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 subject to continuous service.
• Shares of common stock will automatically be sold to cover tax withholding obligations upon each vesting event in a non-discretionary transaction.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, aligning management interests with shareholders. The vesting schedules suggest a long-term commitment.

Positives

• The grant of stock options and RSUs aligns the Chief Scientific Officer's interests 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

This is a standard practice for incentivizing and retaining key executives in publicly traded companies, particularly in the biotechnology sector.

Comparison to Industry Standards

• Stock option and RSU grants are common compensation tools in the biotech industry.
• Vesting schedules are generally in line with industry norms, typically ranging from three to four years for stock options and one to three years for RSUs.
• Companies like Amgen, Gilead, and Regeneron also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• Shareholders: Aligns executive compensation with company performance.
• Employees: May boost morale by demonstrating investment in key personnel.

Key Dates