KIES PETER 4

What Happened

• Peter Kies, Chief Financial Officer of Inovio Pharmaceuticals (INO), had 4,771 restricted stock units (RSUs) vest on May 15, 2026 and those RSUs were converted/settled into shares. To satisfy tax withholding on the vesting, 2,571 shares were withheld by the issuer at $1.30 per share, totaling $3,342. The filing also shows the RSU conversion/settlement entries reporting 4,771 shares converted to common stock (reported with $0 per-share cash proceeds, reflecting a non‑cash settlement).

Key Details

• Transaction date: May 15, 2026 (reported on Form 4 filed May 18, 2026).
• Vesting/settlement: 4,771 RSUs vested and were converted to shares.
• Tax withholding: 2,571 shares withheld at $1.30 per share = $3,342 (company withheld to cover tax obligations).
• Footnote: The award comprised 14,313 RSUs with a three‑year vesting schedule (4,771 vested on 5/15/2024, 4,771 on 5/15/2025, and 4,771 on 5/15/2026). Vested RSUs may be settled in shares, cash, or a combination.
• Shares owned after the reported transaction: not specified in the filing.
• Filing timeliness: Form 4 was filed on May 18, 2026 (appears timely).

Context

• This activity is compensation-related (RSU vesting) rather than an open-market purchase or a personal-initiated sale. The withholding of shares to cover taxes is a routine administrative step and does not necessarily indicate a change in the insider’s market view.
• For retail investors: purchases are typically more informative about insider sentiment; vesting and tax-withholding events are common and reflect executive compensation mechanics rather than active trading.