Invivyd (IVVD) CFO William Duke Sells Shares After RSU Vest
$IVVD · Invivyd, Inc.Research Summary
AI-generated summary of this SEC filing
Invivyd (IVVD) CFO William Duke Sells Shares After RSU Vest
What Happened
William E. Duke, CFO of Invivyd, reported RSU vesting and related share sales. On Aug 15, 2026, 102,000 restricted stock units (RSUs) converted to common shares (reported as an exercise/conversion). Those 102,000 shares were used to satisfy tax withholding (reported as a disposal at $0). Separately, Duke sold 22,355 shares on Aug 17, 2026 for a reported weighted-average price of $0.72 (proceeds $16,140) and 18,425 shares on Aug 18, 2026 for a reported weighted-average price of $0.84 (proceeds $15,530). Total open-market proceeds ≈ $31,670. These transactions are sales (not purchases).
Key Details
- Transaction dates/prices:
- 2026-08-15: 102,000 RSUs converted to shares (derivative exercise/conversion).
- 2026-08-15: 102,000 shares disposed at $0.00 (share withholding for taxes).
- 2026-08-17: 22,355 shares sold, weighted avg price $0.72, proceeds $16,140 (prices in range $0.682–$0.830 per filing).
- 2026-08-18: 18,425 shares sold, weighted avg price $0.84, proceeds $15,530 (prices in range $0.760–$0.872 per filing).
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
- Footnotes of note:
- RSUs = contingent right to one share upon vesting.
- Sales were non‑discretionary “sell‑to‑cover” transactions to satisfy tax withholding under a Rule 10b5‑1 plan adopted Feb 20, 2025.
- RSU award vests over 18 months (one‑third every six months from Feb 15, 2025).
- Filing: Form 4 filed Aug 18, 2026 reporting transactions through Aug 15, 2026 (no late‑filing flag provided).
Context
This is a routine RSU vest and sell‑to‑cover for tax obligations rather than an independent, discretionary sale—common for equity compensation. The conversion of RSUs to shares (derivative "exercise/conversion") followed by withholding at $0 reflects shares surrendered to cover taxes, while the smaller open‑market sales generated modest cash proceeds. Such tax‑related disposals are generally considered neutral for interpreting insider sentiment.