Humeau Laurent 4

What Happened

• Laurent Humeau, Chief Scientific Officer of INOVIO Pharmaceuticals (INO), had restricted stock units (RSUs) vest on February 26, 2026. A total of 12,376 RSUs (5,010 from a 2024 grant and 7,366 from a 2025 grant) were settled into shares. The company withheld 5,098 shares to satisfy payroll/tax withholding, valued at $1.79 per share for withholding purposes (total withholding ≈ $9,126). Net shares issued to Humeau were about 7,278. There was no open-market sale reported — this was an RSU settlement, not a sale.

Key Details

• Transaction date: February 26, 2026; Form 4 filed February 27, 2026.
• Vested/converted (M code): 5,010 shares (2024 grant) and 7,366 shares (2025 grant) → total 12,376 shares.
• Tax-withholding (F code): 2,064 and 3,034 shares withheld at $1.79/share, proceeds $3,695 and $5,431 (total ≈ $9,126).
• Net shares received by Humeau ≈ 7,278 (12,376 vested − 5,098 withheld).
• Footnotes: Vesting schedules — 15,029 RSUs granted 2/28/2024 (staggered vesting through 2027) and 22,098 RSUs granted 2/27/2025 (staggered vesting through 2028). Vested RSUs can be settled in stock, cash, or both. The F entries represent shares withheld to cover tax obligations.
• Shares owned after the transaction: not specified in the provided excerpt — see the full Form 4 for total beneficial ownership.

Context

• This was a routine RSU vesting and settlement (codes M = conversion/exercise of derivative; F = shares withheld for taxes). Withholding of shares to cover taxes is common and is not the same as an open-market sale. No 10b5-1 plan or late-filing flag was indicated in the provided details.