Invivyd (IVVD) Chief Legal Officer Jill Andersen Sells Shares

What Happened
Jill Andersen, Chief Legal Officer and Secretary of Invivyd, had 170,000 restricted stock units (RSUs) convert into common shares on August 15, 2026. Following the conversion, she sold a total of 67,962 shares in two sell-to-cover transactions (Aug 17 and Aug 18) under a Rule 10b5-1 plan to satisfy tax withholding obligations, generating approximately $52,781 in proceeds. The RSU conversion is recorded as a derivative conversion with a $0.00 exercise price (RSUs convert to shares without cash exercise).

Key Details

• Transaction dates: RSU conversion on 2026-08-15; sales on 2026-08-17 and 2026-08-18. Filing date: 2026-08-18.
• Shares: 170,000 RSUs converted to 170,000 shares; 37,256 shares sold on 8/17 (weighted avg $0.72, proceeds $26,899); 30,706 shares sold on 8/18 (weighted avg $0.84, proceeds $25,882). Total shares sold = 67,962; total proceeds ≈ $52,781.
• Remaining shares from this vesting event: 170,000 − 67,962 = 102,038 shares retained. (The Form 4 does not disclose Ms. Andersen’s total beneficial ownership after these transactions.)
• Reason for sales: Footnote states the sales were non-discretionary "sell-to-cover" transactions to satisfy tax withholding under a Rule 10b5-1 plan adopted Feb 20, 2025.
• Price ranges: 8/17 sales priced between $0.682–$0.830; 8/18 sales between $0.760–$0.872. The reported prices are weighted averages; the filer will provide a breakdown on request.
• RSU vesting schedule: The RSU award vests over 18 months, with one-third vesting every six months beginning Feb 15, 2025.

Context
This was not a market-timed purchase; it reflects routine conversion of RSUs and sell-to-cover tax withholding. The derivative entries (M) reflect RSUs converting into shares with no cash exercise price. Such sell-to-cover transactions are common following RSU vesting and do not necessarily signal a change in insider sentiment.