Dukes Iain D. 4
4 · IOVANCE BIOTHERAPEUTICS, INC. · Filed Jun 18, 2026
Research Summary
AI-generated summary of this filing
IOVANCE (IOVA) Director Iain Dukes Receives 180,632 Deferred RSUs
What Happened
Iain D. Dukes, a director of Iovance Biotherapeutics, was granted 180,632 deferred restricted stock units (DRSUs) on June 16, 2026. The award was recorded at $0.00 per unit (transaction code A), so there is no immediate cash consideration; the units are a derivative grant representing contingent rights to receive common stock in the future.
Key Details
- Transaction date: 2026-06-16; Form 4 filed: 2026-06-18 (appears timely).
- Grant: 180,632 DRSUs at $0.00; reported as a derivative award (code A). Total immediate value reported: $0.
- Amount owned after transaction: not specified in the filing.
- Footnote summary: each DRSU equals a contingent right to one share under the 2018 Equity Incentive Plan. Vesting occurs on the earlier of (i) the first anniversary of the grant or (ii) the day before the next annual meeting, provided continued service. Issuance of shares is deferred until the earlier of (i) three months after the director leaves service (or upon death/disability), (ii) a change in control, or (iii) ten years from the grant date.
- Transaction type: compensation award to a director (not an open-market purchase or sale).
Context
DRSUs are commonly used for director compensation; they do not represent immediately tradable shares and generally require continued service and satisfaction of vesting/deferred-issuance conditions before shares are issued. This grant should be viewed as a compensation event, not a direct market buy or sell.
Insider Transaction Report
- Award
Deferred Restricted Stock Unit
[F1][F2]2026-06-16+180,632→ 180,632 total→ Common Stock (180,632 underlying)
Footnotes (2)
- [F1]Each deferred restricted stock unit ("DRSU") represents a contingent right to receive one share of the Issuer's common stock and are granted pursuant to the Issuer's 2018 Equity Incentive Plan (as amended).
- [F2]Provided the Reporting Person continues to be providing service to the Issuer on the following dates, the DRSUs shall vest on the earlier of: (i) the first anniversary of the Transaction Date; or (ii) the day prior to the Issuer's next annual shareholder meeting. Notwithstanding the vesting, the issuance of the common stock will be deferred until the earlier of (i) three months after the Reporting Person's resignation or removal from the Board of Directors or no longer providing service because of death or disability, (ii) a change in control (as defined in the DRSU agreement) or (iii) ten years from the Transaction Date.