Invivyd (IVVD) CCO Timothy E. Lee Sells Shares After RSU Vest

What Happened

• Timothy Edward Lee, Chief Commercial Officer of Invivyd, had 102,000 restricted stock units (RSUs) convert to common shares on Aug 15, 2026. Following that vesting/conversion, he sold 22,355 shares on Aug 17 (weighted avg $0.72, proceeds $16,140) and 18,425 shares on Aug 18 (weighted avg $0.84, proceeds $15,530), for total proceeds of $31,670. The conversion/derivative entry is reported as an exercise/conversion (code M) of 102,000 RSUs (no cash exercise price).

Key Details

• Transaction dates and amounts:
  • 2026-08-15: 102,000 RSUs converted to shares (derivative: code M).
  • 2026-08-17: Sold 22,355 shares at a weighted avg price of $0.72 (range $0.682–$0.830) — $16,140 proceeds.
  • 2026-08-18: Sold 18,425 shares at a weighted avg price of $0.84 (range $0.760–$0.872) — $15,530 proceeds.
• Total sold: 40,780 shares for $31,670; remaining from this vesting: 61,220 shares (102,000 − 40,780).
• Footnotes: Sales were non‑discretionary "sell‑to‑cover" transactions to satisfy tax withholding under a Rule 10b5‑1 plan adopted Feb 20, 2025. Each RSU converts to one share; the RSU award vests over 18 months (one‑third every six months from the Feb 15, 2025 grant).
• Filing: Form 4 was filed Aug 18, 2026 reporting transactions dated Aug 15–18, 2026 (reported on the Form 4 filed Aug 18).

Context

• These sales were sell‑to‑cover tax withholdings tied to RSU vesting (routine), not open‑market discretionary sales signaling a change in view. RSU conversion (code M) is simply issuance of shares upon vesting (no cash exercise); a portion was immediately sold under the plan to cover taxes and the balance retained.