SEC Form 4 · accession 0001179110-18-003604
Innoviva, Inc. · INVA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric dEsparbes
Officer — Interim PEO, SVP and CFO
Period of report
Mar 2, 2018
Accepted (ET)
Mar 6, 2018 · 4:14 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001080014
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 2, 2018 | A | 93,056 | $0.00 | A | 384,866 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Includes 31,018 shares of common stock granted pursuant to a time-based restricted stock award (RSA). Twenty-five percent of the shares subject to the RSA shall vest on February 20, 2019, and 6.25% of the shares subject to the RSA shall vest quarterly thereafter on the Issuer's standard vesting dates until February 20, 2022, provided the Reporting Person has provided continuous service to the Issuer through the applicable vesting date.
- F2Includes shares of common stock granted pursuant to a performance-based restricted stock award (PSA). The shares vest pursuant to the PSA over a three-year period upon, and subject to a formula related to, the Issuer's achievement of certain levels of relative total shareholder return (TSR). The "target" number of shares that may vest is 31,019, but the actual number of shares that may vest will range from 0 to 62,038 shares based on the Issuer's relative TSR over the performance period. Subject to achievement of the performance-based vesting conditions, the shares eligible to vest based on achievement will vest on February 20, 2021 provided that the Reporting Person has provided continuous service to the Issuer through the applicable vesting date.