KIES PETER 4

What Happened
Peter Kies, Chief Financial Officer of INOVIO Pharmaceuticals (INO), had restricted stock units (RSUs) vest on February 26, 2026. A total of 15,644 RSUs converted into common shares (5,010 from a 2024 grant and 10,634 from a 2025 grant). To satisfy tax withholding obligations, the company withheld 9,259 of those shares (treated as dispositions) at $1.79 per share for a tax withholding value of about $16,573, leaving 6,385 shares delivered to Kies.

Key Details

• Transaction date: February 26, 2026; Form 4 filed February 27, 2026 (timely).
• Shares vested/converted: 15,644 total (5,010 + 10,634).
• Shares withheld for taxes: 9,259 shares at $1.79/share; withholding value ≈ $16,573 (reported as disposals).
• Net shares issued to Kies: 6,385 shares.
• Transaction codes: M = exercise/conversion of RSUs; F = shares withheld to satisfy tax obligations.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: vesting schedules from grants on Feb 28, 2024 (5,010 vested in 2026) and Feb 27, 2025 (10,634 vested in 2026). Vested RSUs may be settled in shares, cash, or both.

Context
This was a routine RSU vesting and tax-withholding event, not an open-market sale or purchase. The withholding of shares to cover taxes is common and does not, by itself, indicate a change in insider sentiment. The filing appears timely (filed the business day after the vesting date).