Zhen Marianne 4

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.