Inovio CMO exercises 2,385 RSUs, 680 shares for taxes

INOVIO PHARMACEUTICALS Chief Medical Officer Michael John Sumner exercised 2,385 restricted stock units into 2,385 shares of common stock on May 15, 2026.

Rhea-AI Filing Summary

INOVIO PHARMACEUTICALS Chief Medical Officer Michael John Sumner exercised 2,385 restricted stock units into 2,385 shares of common stock on May 15, 2026. To cover related tax obligations, 680 shares were withheld by the company at $1.30 per share. After these transactions, he directly holds 35,281 shares of INOVIO common stock.

Insider Trade Summary

2,385 shares exercised/converted

Exercise 3 txns

Insider Sumner Michael John

Role Chief Medical Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	2,385	$0.00	$0.00
Exercise	Common Stock	2,385	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	680	$1.30	$884.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 35,281 shares (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock. The vesting schedule for the 7,156 restricted stock units was as follows: 2,386 shares vested on May 15, 2024; 2,385 shares vested on May 15, 2025; and 2,385 shares vested on May 15, 2026. Vested restricted stock units can be settled in shares of common stock, cash or a combination of both.
2. 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.

Key Figures

RSUs exercised: 2,385 units Common shares acquired: 2,385 shares Shares withheld for taxes: 680 shares +3 more

6 metrics

RSUs exercised 2,385 units Restricted stock units converted to common stock on May 15, 2026

Common shares acquired 2,385 shares Shares received from RSU settlement on May 15, 2026

Shares withheld for taxes 680 shares Common shares withheld by issuer to satisfy tax obligations

Tax withholding price $1.30 per share Per-share value used for the 680-share tax-withholding transaction

RSU award size 7,156 units Restricted stock unit award vesting over three annual tranches

Post-transaction holdings 35,281 shares Direct common stock holdings after reported transactions

Key Terms

Restricted Stock Unit, vesting schedule, tax withholding obligations, contingent right

4 terms

Restricted Stock Unit financial

"Each restricted stock unit represents a contingent right to receive one share"

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.

vesting schedule financial

"The vesting schedule for the 7,156 restricted stock units was as follows"

A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.

tax withholding obligations financial

"to satisfy the reporting person's tax withholding obligations in connection with the vesting"

contingent right financial

"represents a contingent right to receive one share of common stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did INO’s Chief Medical Officer report in this Form 4 filing?

Michael John Sumner reported the exercise of 2,385 restricted stock units into common stock, with 680 shares withheld by INOVIO PHARMACEUTICALS to satisfy tax obligations, and confirmed direct ownership of 35,281 shares following these transactions.

How many INO shares did Michael John Sumner acquire through RSU settlement?

He acquired 2,385 shares of common stock through the settlement of restricted stock units. Each RSU represents a right to receive one share, and this conversion occurred on May 15, 2026 as part of his equity compensation.

How many INO shares were withheld for taxes and at what price?

INOVIO PHARMACEUTICALS withheld 680 shares of common stock to cover Michael John Sumner’s tax obligations, using a per-share value of $1.30. This tax-withholding transaction is coded as F in the Form 4.

What is Michael John Sumner’s INO shareholding after these transactions?

After the reported RSU exercise and tax withholding, Michael John Sumner directly owns 35,281 shares of INOVIO common stock. This figure reflects his canonical post-transaction holdings as disclosed in the Form 4 data.

What RSU award structure is described in INO’s Form 4 for Michael John Sumner?

An RSU award of 7,156 restricted stock units is described, vesting in three tranches: 2,386 units on May 15, 2024, and 2,385 units on both May 15, 2025 and May 15, 2026. Vested RSUs may be settled in stock, cash, or both.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 04:04 PM EDT Learn about SEC filing dates

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^*

Sumner Michael John

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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
Common Stock	05/15/2026		M		2,385	A	(1)	35,961	D
Common Stock	05/15/2026		F		680(2)	D	$1.3	35,281	D

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
Restricted Stock Unit	(1)	05/15/2026		M			2,385	(1)	(1)	Common Stock	2,385	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock. The vesting schedule for the 7,156 restricted stock units was as follows: 2,386 shares vested on May 15, 2024; 2,385 shares vested on May 15, 2025; and 2,385 shares vested on May 15, 2026. Vested restricted stock units can be settled in shares of common stock, cash or a combination of both.

2. 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.

Remarks:

	/s/ Michael John Sumner	05/18/2026
	** 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)