Basso Stephen 4
4 · Innoviva, Inc. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Innoviva (INVA) CFO Stephen Basso Receives Stock Awards
What Happened Stephen Basso, Chief Financial Officer of Innoviva, Inc. (INVA), was granted 37,994 restricted stock units (RSUs) and 93,750 derivative awards (non‑statutory stock options) on May 4, 2026. The Form 4 reports these awards at $0.00 (no cash paid by the reporting person). These are awards/compensation grants rather than open‑market purchases or sales.
Key Details
- Transaction date(s): May 4, 2026. Report filed: May 6, 2026 (timely filing).
- Reported amounts: 37,994 RSUs (grant A) and 93,750 derivative awards/options (grant A); price reported $0.00 for both.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnote summary:
- F1: Grants (RSUs and Options) were conditionally made subject to stockholder approval of Innoviva's 2026 Equity Incentive Plan (see the company’s Schedule 14A filed March 24, 2026).
- F2: Vesting: 25% of each award vests on February 20, 2027, then the balance vests in 12 substantially equal quarterly installments thereafter (service‑based). Accelerated vesting may apply in certain change‑in‑control or involuntary termination scenarios, subject to release requirements.
Context These entries are compensation awards (RSUs and options) that typically vest over time and do not represent an immediate purchase or sale of stock. The 93,750 derivative line refers to option awards (not exercised or sold). Because the filing reports $0, no cash changed hands at grant; value to the executive depends on future vesting and, for options, any exercise price and share price at exercise. The filing appears to be timely (filed within the usual two‑business‑day window).
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-05-04+37,994→ 88,007 total - Award
Non-statutory Stock Option
[F1][F2]2026-05-04+93,750→ 93,750 totalExercise: $22.99From: 2027-02-20Exp: 2036-05-03→ Common Stock (93,750 underlying)
Footnotes (2)
- [F1]The Reporting Person was conditionally granted time-vested restricted stock units ("RSUs") and non-statutory stock options ("Options"). The RSUs and Options were granted subject to stockholder approval of the Issuer's 2026 Equity Incentive Plan at the Issuer's 2026 annual meeting of stockholders on May 4, 2026, as disclosed in the Issuer's Schedule 14A filed with the Securities and Exchange Commission ("SEC") on March 24, 2026.
- [F2]Twenty-five percent of each of the RSUs and Options vest on February 20, 2027 and the balance will vest in twelve (12) substantially equal installments thereafter on each three (3) month anniversary of the initial vesting date, in each case, provided the Reporting Person has provided continuous service to the Issuer through the applicable vesting date, with accelerated vesting (i) with respect to the Options, in the event of a "change in control" (as defined in the Issuer's 2026 Equity Incentive Plan) in which the options are not assumed or replaced, provided that the Reporting Person has not experienced a termination prior to such "change in control," or (ii) with respect to the Options and the RSUs, in the event that the Reporting Person experiences an "involuntary termination" of employment within 24 months following a "change in control" where such awards are assumed or substituted, subject to an effective release of claims.