Zhen Marianne 4
4 · Innoviva, Inc. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Innoviva (INVA) Chief Accounting Officer Marianne Zhen Receives Award
What Happened
Marianne Zhen, Chief Accounting Officer of Innoviva, received two equity awards on May 4, 2026: 12,766 restricted stock units (RSUs) reported as shares acquired at $0.00, and 31,500 derivative awards reported at $0.00 (non‑statutory stock options). These are compensation grants from the company, not open‑market purchases or sales, so they represent awarded equity subject to future vesting rather than an immediate cash investment or disposition.
Key Details
- Transaction date: May 4, 2026; Form 4 filed May 6, 2026 (filed within the normal reporting window).
- Grants reported: 12,766 RSUs @ $0.00 (acquired) and 31,500 derivative awards @ $0.00 (Options).
- Shares owned following transaction: not specified in the filing.
- Footnote: Awards were conditionally granted subject to stockholder approval of the company’s 2026 Equity Incentive Plan (referenced in the company’s proxy).
- Vesting: 25% of each award vests on Feb 20, 2027; remaining balance vests in 12 substantially equal quarterly installments thereafter, subject to continued service.
- Acceleration: Options may accelerate on certain change‑in‑control scenarios; both RSUs and Options may accelerate upon an involuntary termination within 24 months after a change in control (with conditions and a required release).
Context
These are standard compensation grants to an executive and should be viewed as awarded, time‑vested equity rather than an immediate purchase or sale. The derivative entry refers to option awards (future right to buy shares under plan terms); exercise price and other option specifics are not shown in the Form 4 and are governed by the company’s Equity Incentive Plan and the award agreements.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-05-04+12,766→ 58,643 total - Award
Non-statutory Stock Option
[F1][F2]2026-05-04+31,500→ 31,500 totalExercise: $22.99From: 2027-02-20Exp: 2036-05-03→ Common Stock (31,500 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.