Weiner David B. 4

What Happened

• David B. Weiner, a director of INOVIO Pharmaceuticals (INO), had 972 restricted stock units (RSUs) vest and be converted/settled on 2026-02-26. The Form 4 shows an acquired entry for 972 shares (conversion of derivative) and a corresponding disposition of 972 shares at $0.00.
• This was not an open-market purchase or sale for cash — it reflects the settlement/conversion of vested equity awards rather than a buy or a sale that generated proceeds.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-02-27 (filed one day after transaction, within the typical 2-business-day Form 4 deadline).
• Shares involved: 972 RSUs vested and were converted/settled (972 acquired; 972 disposed at $0.00 per the filing).
• Reported dollar proceeds: $0.00 for the disposition (per the filing).
• Footnote (F1): These were part of a 2,916 RSU grant from Feb 27, 2023 that vested in three equal tranches of 972 on 2/26/2024, 2/26/2025 and 2/26/2026. Vested RSUs may be settled in shares, cash, or a combination.
• Net effect on ownership: The filing shows 972 acquired and 972 disposed (net zero change); total post-transaction holdings are not specified in the provided excerpt.

Context

• This is a routine equity award settlement (conversion of RSUs), not an open-market purchase or a sale for cash. For insiders, RSU vesting and settlement often reflect compensation and vesting schedules rather than a directional bet on the stock.
• The $0 disposition reported aligns with a non-cash settlement reported on the Form 4; the footnote clarifies settlement options (stock, cash, or both).