Invivyd (IVVD) CSO Robert Allen III Sells Shares After RSU Vesting

What Happened

• Robert D. Allen III, Chief Scientific Officer of Invivyd, converted 102,000 restricted stock units (RSUs) into common shares on Aug 15, 2026 (reported as an exercise/conversion of a derivative, code M). Following the conversion, he sold a total of 37,722 shares in two sell-to-cover transactions (non‑discretionary) to satisfy tax withholding, generating aggregate proceeds of approximately $29,296.

Key Details

• Conversion/vesting: 102,000 RSUs converted to common stock on 2026-08-15 (RSUs represent the right to one share each; vesting schedule noted in filing).
• Sales:
  • 2026-08-17: 20,679 shares sold at a weighted average price of $0.72 (range $0.682–$0.830); proceeds $14,930.
  • 2026-08-18: 17,043 shares sold at a weighted average price of $0.84 (range $0.760–$0.872); proceeds $14,366.
• Total sold: 37,722 shares for ~$29,296; retained from this vesting event = 102,000 − 37,722 = 64,278 shares (the filing does not disclose the insider’s total company holdings after the transactions).
• Sales were non‑discretionary "sell‑to‑cover" transactions executed under a Rule 10b5‑1 plan adopted by the reporting person on Feb 20, 2025 (footnote F2).
• The filing notes the weighted‑average price ranges and offers to provide a per‑price breakdown on request (footnotes F3 and F4).
• RSU terms: award vests over 18 months with one‑third vesting every six months starting Feb 15, 2025 (footnote F5).
• Filing: Form 4 filed Aug 18, 2026, reporting transactions through Aug 15, 2026 (no late‑filing flag shown on the form).

Context

• These transactions appear to be routine tax‑withholding sales tied to RSU vesting (sell‑to‑cover), not open‑market discretionary sales. The conversion was effectively a cost-free issuance of shares from RSU vesting (derivative conversion at $0). Such sell‑to‑cover transactions are common and generally reflect tax obligations rather than a directional bet on the stock.