Innoviva, Inc. 4
4 · Innoviva, Inc. · Filed Jan 19, 2016
Insider Transaction Report
Form 4
Innoviva, Inc.INVA
Faerm Michael E.
Sr VP & Chief Business Officer
Transactions
- Award
Common Stock
2016-01-14+67,126→ 172,414 total
Footnotes (3)
- [F1]Includes 33,562 shares of common stock granted pursuant to a time-based restricted stock award (RSA). Twenty-five percent of the shares subject to the RSA shall vest on February 20, 2017, and 6.25% of the shares subject to the RSA shall vest quarterly thereafter on the Issuer's standard vesting dates until February 20, 2020, provided that the Reporting Person has provided continuous service to the Issuer through the applicable vesting date.
- [F2]Includes shares of common stock granted pursuant to a performance-based restricted stock award (PSA). The shares vest pursuant to the PSA over a two-year and three-year performance period upon, and subject to a formula related to, the Issuer's achievement of certain levels of total shareholder return (TSR). The "target" number of shares that may vest is 16,782, but the actual number of shares that may vest will range from 0 to 33,564 shares based on the Issuer's TSR over the performance periods. Subject to achievement of the performance-based vesting conditions, (i) two-thirds of the shares eligible to vest based on achievement for the two-year performance period will vest on February 20, 2018 and the remaining one-third of such shares will vest on February 20, 2019 and (ii) the shares eligible to vest based on achievement for the three-year performance period will vest on February 20, 2019, in each case, (continued in Footnote 3)
- [F3](continued from Footnote 2) provided that the Reporting Person has provided continuous service to the Issuer through the applicable vesting date.