Kirby Daniel Gordon 4

What Happened

• Daniel Gordon, Chief Commercial Officer of Iovance Biotherapeutics (IOVA), had performance-based restricted stock units (PSUs) vest on February 24, 2026. 120,000 shares were issued upon vesting (acquired at $0.00), and 34,165 of those shares were withheld by the company to satisfy mandatory tax withholding (withheld shares valued at $3.78 each, totaling $129,144). After withholding, 85,835 shares remained issued to him from this vesting event.
• The original award was for up to 150,000 PSUs; 120,000 vested and 30,000 were canceled per the award terms.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026.
• Vested/issued: 120,000 shares acquired at $0.00 (PSU conversion).
• Tax withholding: 34,165 shares withheld at $3.78/share = $129,144 (this is not an open-market sale).
• Shares remaining from this vesting after withholding: 85,835.
• Award background: 150,000 PSUs granted on Feb 10, 2025; vesting occurred based on financial milestones (120k vested, 30k canceled).
• No indication in the filing of a late report.

Context

• PSUs are compensation awards that convert to company stock only if performance conditions are met; each PSU equals a contingent right to one share. This was an employer-administered vesting event, not a purchase or open-market sale by the insider.
• Withholding to cover taxes is routine and should not be interpreted as a sign of trading sentiment.