Inovio CMO receives stock awards and options
INOVIO PHARMACEUTICALS, INC.
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Form Type
4
Rhea-AI Filing Summary
INOVIO PHARMACEUTICALS, INC. Chief Medical Officer Michael John Sumner reported several equity compensation transactions on May 20, 2026. He exercised 9,450 restricted stock units, receiving common shares, and 2,693 shares were withheld by the company to cover related tax obligations.
Sumner also received a new grant of 37,684 restricted stock units, which vest in three annual installments from February 26, 2027 through February 26, 2029. In addition, he was granted 46,876 stock options with a $1.73 exercise price, vesting over the same three-year period under INOVIO’s amended 2023 Omnibus Incentive Plan, which shareholders approved on May 20, 2026.
Insider Trade Summary
9,450 shares exercised/converted
Exercise
5 txns
Insider
Sumner Michael John
Role
Chief Medical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 9,450 | $0.00 | $0.00 |
| Grant/Award | Common Stock Option | 46,876 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 37,684 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,450 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,693 | $1.23 | $3K |
Holdings After Transaction:
Restricted Stock Unit — 56,584 contracts (Direct);
Common Stock Option — 46,876 contracts (Direct);
Common Stock — 42,038 shares (Direct)
Footnotes (6)
- F1. Each restricted stock unit represents a contingent right to receive one share of common stock. The vesting schedule for the 28,350 restricted stock units was as follows: 9,450 shares vested on May 20, 2026; 9,450 shares will vest on May 20, 2027; 9,450 shares will vest on May 20, 2028. Vested restricted stock units can be settled in shares of common stock, cash or a combination of both.
- F2. The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations in connection with the vesting and settlement of the restricted stock unit award reported in the immediately preceding row and described in footnote (1) herein.
- F3. The stock option grant was approved by Inovio's Board of Directors on March 4, 2026, subject to shareholder approval of the amendment and restatement of the Amended and Restated 2023 Omnibus Incentive Plan under which the stock options were granted. Inovio's shareholders approved the amendment and restatement of the Amended and Restated 2023 Omnibus Incentive Plan on May 20, 2026.
- F4. The vesting schedule for the options granted on May 20, 2026 was as follows: 15,626 shares will vest on February 26, 2027; 15,625 shares will vest on February 26, 2028; 15,625 shares will vest on February 26, 2029.
- F5. Each restricted stock unit represents a contingent right to receive one share of common stock. The vesting schedule for the restricted stock units granted on May 20, 2026 was as follows: 12,562 shares will vest on February 26, 2027; 12,561 shares will vest on February 26, 2028; 12,561 and shares will vest on February 26, 2029. Vested restricted stock units can be settled in shares of common stock, cash or a combination of both.
- F6. The restricted stock units were approved by Inovio's Board of Directors on March 4, 2026, subject to shareholder approval of the amendment and restatement of the Amended and Restated 2023 Omnibus Incentive Plan under which the restricted stock units were granted. Inovio's shareholders approved the amendment and restatement of the Amended and Restated 2023 Omnibus Incentive Plan on May 20, 2026.
Key Figures
RSUs exercised: 9,450 units
Tax withholding shares: 2,693 shares
New RSU grant: 37,684 units
+4 more
7 metrics
RSUs exercised
9,450 units
Restricted stock units converted to common stock on May 20, 2026
Tax withholding shares
2,693 shares
Shares withheld to satisfy tax obligations on RSU vesting
New RSU grant
37,684 units
Restricted stock units granted on May 20, 2026
New stock options
46,876 options
Stock option grant approved under 2023 Omnibus Incentive Plan
Option exercise price
$1.73 per share
Exercise price for 46,876 stock options expiring May 20, 2036
RSU vesting schedule (legacy grant)
3×9,450 units
28,350 RSUs with 9,450 vesting annually May 20, 2026–2028
RSU vesting schedule (new grant)
12,562 + 12,561 + 12,561 units
New RSUs vesting annually Feb 26, 2027–2029
Key Terms
restricted stock unit, tax withholding obligations, stock option grant, Omnibus Incentive Plan, +1 more
5 terms
restricted stock unit financial
"Each restricted stock unit represents a contingent right to receive one share of common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax withholding obligations financial
"withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations"
stock option grant financial
"The stock option grant was approved by Inovio's Board of Directors on March 4, 2026"
Omnibus Incentive Plan financial
"the Amended and Restated 2023 Omnibus Incentive Plan under which the stock options were granted"
An omnibus incentive plan is a single, flexible program a company uses to give employees and executives different types of pay tied to performance — for example stock options, restricted shares, cash bonuses and other awards — all governed by one set of rules. It matters to investors because it determines how many new shares may be created, how leaders are motivated and how much the company will spend on compensation over time; think of it as a master toolbox that affects both costs and the total share supply.
exercise or conversion of derivative security financial
"Exercise or conversion of derivative security"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did INO Chief Medical Officer Michael John Sumner report in this Form 4?
Michael John Sumner reported equity compensation activity, including exercising 9,450 restricted stock units into common stock and receiving new grants of restricted stock units and stock options. The filing mainly reflects routine compensation-related transactions rather than open-market buying or selling of INO shares.
How many INO restricted stock units did Michael John Sumner vest and exercise?
Sumner vested and exercised 9,450 restricted stock units into common stock on May 20, 2026. Each unit represents a contingent right to one share, and vested units can be settled in common stock, cash, or a combination, according to the company’s equity award terms.
How many new restricted stock units did INO grant to Michael John Sumner?
INOVIO granted Sumner 37,684 new restricted stock units. These RSUs will vest in three annual installments: 12,562 units on February 26, 2027, and two tranches of 12,561 units on February 26, 2028 and February 26, 2029, subject to the plan’s conditions.
What stock option grant did Michael John Sumner receive from INO?
Sumner received 46,876 stock options with a $1.73 exercise price, expiring on May 20, 2036. The options vest in three installments: 15,626 shares on February 26, 2027 and 15,625 shares on both February 26, 2028 and February 26, 2029, under INOVIO’s incentive plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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