Sumner Michael John 4

What Happened

• Michael (Mike) Sumner, Chief Medical Officer of INOVIO Pharmaceuticals (INO), had restricted stock units (RSUs) vest and be converted to common stock on 2026-02-26. A total of 16,560 RSUs vested (5,010 from a 2024 grant and 11,550 from a 2025 grant). The issuer withheld 3,903 shares to satisfy tax withholding at $1.79 per share, totaling $6,986. The net shares delivered to Sumner after withholding were 12,657. The RSU settlement was not a purchase; it was a routine vesting/settlement event.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-02-27 (timely).
• Vested/converted: 16,560 RSUs (5,010 from the Feb 28, 2024 grant; 11,550 from the Feb 27, 2025 grant).
• Withheld for taxes: 3,903 shares at $1.79/share = $6,986.
• Net shares retained by insider: 12,657 (16,560 vested − 3,903 withheld).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 and F2 describe the original RSU grants and vesting schedules; F3 confirms the 3,903-share withholding to satisfy tax obligations.

Context

• These entries reflect RSU vesting and issuer withholding (a common form of cashless settlement for tax purposes), not an open-market sale or purchase by the insider. Vested RSUs can be settled in shares, cash, or a mix per the grant terms. No evidence in this filing of additional selling of newly vested shares beyond the issuer withholding.