[Form 4] INOVIO PHARMACEUTICALS, INC. Insider Trading Activity

Rhea-AI Filing Summary

INOVIO PHARMACEUTICALS director Simon X. Benito received new equity awards as part of his non-employee director compensation. On May 20, 2026, he was granted 34,200 restricted stock units, each representing one future share of common stock, and 41,800 stock options with a $1.23 exercise price.

Both the RSUs and options were granted under the 2023 Omnibus Incentive Plan and are scheduled to vest 100% on May 20, 2027, subject to applicable plan terms. These are compensation-related awards, not open-market share purchases or sales.

Insights

Executive compensation analyst

Routine equity grants to a non-employee director with future vesting.

Director Simon X. Benito received equity awards consisting of 34,200 restricted stock units and 41,800 stock options at a $1.23 exercise price. These were issued under the 2023 Omnibus Incentive Plan pursuant to the non-employee director compensation policy.

The RSUs and options both vest 100% on May 20, 2027, meaning Benito must remain eligible through that date to receive the full benefit. There were no open-market buys or sells disclosed, so the filing mainly updates his long-term incentive position.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider BENITO SIMON X

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock Options	41,800	$0.00	--
Grant/Award	Restricted Stock Unit	34,200	$0.00	--

Holdings After Transaction: Common Stock Options — 41,800 shares (Direct, null); Restricted Stock Unit — 34,200 shares (Direct, null)

Footnotes (1)

1. This grant was made under the 2023 Omnibus Incentive Plan pursuant to the issuer's non-employee director compensation policy. Options to vest 100% on May 20, 2027. Each restricted stock unit represents a contingent right to receive one share of common stock. These restricted stock units will vest 100% on May 20, 2027.

Key Figures

RSU grant: 34,200 units Option grant: 41,800 options Option exercise price: $1.23 per share +3 more

6 metrics

RSU grant 34,200 units Restricted stock units granted May 20, 2026

Option grant 41,800 options Common Stock Options granted May 20, 2026

Option exercise price $1.23 per share Exercise price for 41,800 stock options

Vesting date May 20, 2027 Both RSUs and options vest 100% on this date

RSUs underlying shares 34,200 shares Each RSU equals one share of common stock

Options underlying shares 41,800 shares Underlying Inovio common stock for options

Key Terms

Restricted Stock Unit, Common Stock Options, 2023 Omnibus Incentive Plan, non-employee director compensation policy, +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.

Common Stock Options financial

"Common Stock Options with an exercise price of $1.23 per share were granted."

2023 Omnibus Incentive Plan financial

"This grant was made under the 2023 Omnibus Incentive Plan pursuant to the issuer's non-employee director compensation policy."

non-employee director compensation policy financial

"This grant was made under the 2023 Omnibus Incentive Plan pursuant to the issuer's non-employee director compensation policy."

vest 100% financial

"These restricted stock units will vest 100% on May 20, 2027."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BENITO SIMON X

(Last) (First) (Middle)

660 W. GERMANTOWN PIKE, SUITE 110

(Street)

PLYMOUTH MEETING PENNSYLVANIA 19462

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
INOVIO PHARMACEUTICALS, INC. [ INO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Options	$1.23	05/20/2026		A		41,800(1)		(2)	05/20/2036	Common Stock	41,800	$0	41,800	D
Restricted Stock Unit	(3)	05/20/2026		A		34,200(1)		(3)	(3)	Common Stock	34,200	$0	34,200	D

Explanation of Responses:

1. This grant was made under the 2023 Omnibus Incentive Plan pursuant to the issuer's non-employee director compensation policy.

2. Options to vest 100% on May 20, 2027.

3. Each restricted stock unit represents a contingent right to receive one share of common stock. These restricted stock units will vest 100% on May 20, 2027.

Remarks:

	/s/ Simon X. Benito	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)