INO CFO exercises RSUs; shares withheld for taxes

INOVIO PHARMACEUTICALS, INC.

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Form Type

Rhea-AI Filing Summary

INOVIO PHARMACEUTICALS, INC. CFO Peter Kies reported routine equity compensation activity involving restricted stock units. On May 15, 2026, 4,771 restricted stock units were exercised and converted into an equal number of common shares, consistent with a vesting schedule covering 14,313 units.

In a related transaction that day, 2,571 common shares were withheld by the issuer at $1.30 per share to satisfy Kies’s tax withholding obligations tied to this vesting and settlement. These tax-withholding shares were not an open-market sale.

Following these transactions, Kies directly holds 38,842 common shares, and his spouse indirectly holds an additional 375 common shares reported as indirect ownership.

Insider Trade Summary

4,771 shares exercised/converted

Exercise 4 txns

Insider KIES PETER

Role CFO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	4,771	$0.00	$0.00
Exercise	Common Stock	4,771	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	2,571	$1.30	$3K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 38,842 shares (Direct); Common Stock — 375 shares (Indirect, By Spouse)

Footnotes (2)

F1. Each restricted stock unit represents a contingent right to receive one share of common stock. The vesting schedule for the 14,313 restricted stock units was as follows: 4,771 shares vested on May 15, 2024; 4,771 shares vested on May 15, 2025; and 4,771 shares vested on May 15, 2026. 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.

Key Figures

RSUs exercised: 4,771 units Shares withheld for taxes: 2,571 shares at $1.30 Direct holdings after transactions: 38,842 shares +2 more

5 metrics

RSUs exercised 4,771 units Restricted stock units converted to common stock on May 15, 2026

Shares withheld for taxes 2,571 shares at $1.30 Common shares withheld to satisfy tax obligations

Direct holdings after transactions 38,842 shares Common stock directly owned by CFO after May 15, 2026

Indirect spouse holdings 375 shares Common stock held indirectly via spouse

Original RSU award size 14,313 units Restricted stock unit award vesting over three annual tranches

Key Terms

Restricted Stock Unit, vesting schedule, tax withholding obligations, derivative security

4 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.

vesting schedule financial

"The vesting schedule for the 14,313 restricted stock units was as follows: 4,771 shares vested on May 15, 2024; 4,771 shares vested on May 15, 2025; and 4,771 shares vested on May 15, 2026."

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

"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..."

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

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

What insider transactions did INO CFO Peter Kies report on May 15, 2026?

CFO Peter Kies reported the vesting and exercise of 4,771 restricted stock units into common shares and a related tax-withholding share disposition. These actions stem from an existing equity award vesting schedule rather than open-market trading activity.

Did INO CFO Peter Kies sell shares on the open market in this Form 4?

No open-market sale was reported. The 2,571-share disposition was the issuer withholding shares at $1.30 to cover tax obligations from restricted stock unit vesting and settlement, not a discretionary sale into the market by the CFO.

How many INO shares does CFO Peter Kies hold after these transactions?

After the reported transactions, Peter Kies directly holds 38,842 shares of INOVIO PHARMACEUTICALS common stock. Additionally, 375 shares are reported as indirectly owned through his spouse, providing context on his total reported equity exposure.

What restricted stock unit award is referenced in the INO Form 4 footnotes?

The footnotes describe a 14,313-unit restricted stock award vesting in three equal tranches of 4,771 units each on May 15, 2024, 2025, and 2026. Vested units can be settled in shares, cash, or a combination, according to the disclosure.

What does transaction code F mean in the INO CFO Form 4 filing?

Transaction code F represents a disposition where shares are delivered to the issuer to pay an exercise price or tax liability. Here, it reflects 2,571 common shares withheld by INOVIO to satisfy CFO Peter Kies’s tax withholding obligations on RSU vesting.

How many INO restricted stock units did the CFO exercise in this filing?

The filing shows the exercise of 4,771 restricted stock units into common shares on May 15, 2026. This corresponds to the final vesting tranche of a 14,313-unit award, following earlier equal vestings in May 2024 and May 2025.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/18/2026 - 04:07 PM EDT

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^*

KIES PETER

(Last)

(First)

(Middle)

C/O INOVIO PHARMACEUTICALS, INC.

6769 MESA RIDGE ROAD

(Street)

SAN DIEGO

CALIFORNIA

92121

(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)
	CFO

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/15/2026		M		4,771	A	⁽¹⁾	41,413	D
Common Stock	05/15/2026		F		2,571⁽²⁾	D	$1.3	38,842	D
Common Stock								375	I	By Spouse

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽¹⁾	05/15/2026		M			4,771	⁽¹⁾	⁽¹⁾	Common Stock	4,771	$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 14,313 restricted stock units was as follows: 4,771 shares vested on May 15, 2024; 4,771 shares vested on May 15, 2025; and 4,771 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/ Peter Kies	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)

Source: View Original Filing on SEC EDGAR