Innoviva SEC Filings

Innoviva, Inc. Chief Executive Officer Pavel Raifeld reported routine equity compensation activity. On May 15, he acquired 1,123 shares of common stock at no cost through the Innoviva Employee Stock Purchase Plan. On May 20, 1,130 shares were withheld by Innoviva to cover income taxes on quarterly vesting of prior equity grants, leaving him holding 285,929 shares directly. These transactions reflect compensation and tax withholding, not open-market buying or selling.

Innoviva, Inc. reported a routine insider transaction by Chief Accounting Officer Marianne Zhen. On May 20, 2026, 1,127 shares of common stock were withheld by the company at $22.24 per share to cover income tax obligations tied to the quarterly vesting of prior equity grants.

These shares were not sold on the open market but used to satisfy tax withholding. After this tax-withholding disposition, Zhen directly holds 57,516 shares of Innoviva common stock.

Innoviva, Inc. director Linden Josephine reported equity compensation awards tied to their appointment to the Board on May 18, 2026. They received 9,461 shares of common stock and a separate 5,733-share restricted stock unit grant, all at no cash cost. In addition, they were granted non-statutory stock options for 9,166 shares of common stock at an exercise price of $21.80 per share, expiring in 2036. The RSUs vest over two years, while the options and additional RSUs vest at the earlier of the next annual stockholder meeting or one year after the grant date, subject to continued service and certain acceleration events.

Innoviva, Inc. director Josephine Linden has filed an initial ownership statement showing that she does not currently own any company securities. The Form 3 reports "no securities beneficially owned" and lists total direct holdings as 0 shares following the reported date of May 18, 2026.

Innoviva, Inc. reported board changes and new director compensation. On May 12, 2026, directors Derek Small and Mark DiPaolo resigned to focus on Syndeio BioSciences, where Innoviva has made a series of investments, and the resignations were not due to any disagreement with the company.

On May 18, 2026, the board elected veteran investment executive Josephine Linden as a director, with the expectation she will serve on the Audit Committee. The board determined she qualifies as an independent director under SEC and Nasdaq rules, and disclosed no related-party transactions exceeding $120,000.

Under Innoviva’s non-employee director compensation program, Linden will receive RSU awards valued at $125,000 and $206,250, plus options to purchase 9,166 shares. These equity awards vest over one to two years, with accelerated vesting upon death, disability, or a change in control of the company.

Innoviva, Inc. reported strong first-quarter 2026 results, with total revenue of $97.994 million, up from $88.632 million a year earlier, driven mainly by higher net product sales. Royalty revenue was $55.167 million, slightly below the prior year, while product sales rose to $41.371 million from $30.279 million, helped by XACDURO and the launch of ZEVTERA.

Net income swung to a profit of $186.595 million from a loss of $46.584 million, largely due to favorable fair value movements in equity method and other investments totaling over $191 million. Operating income from the underlying business was $38.154 million, modestly below the prior-year level as selling, general and administrative expenses increased. Cash and cash equivalents grew to $603.085 million, even after repurchasing about $20.4 million of common stock during the quarter.

Innoviva, Inc. reported a profitable first quarter of 2026, with total revenue of $97,994 thousand and net income of $186,595 thousand. Diluted earnings per share were $2.22, compared with a diluted net loss per share of $0.74 a year earlier.

Royalty revenue, net, was $55,167 thousand, while net product sales rose to $41,371 thousand. Management highlighted Innoviva Specialty Therapeutics, noting IST net product sales growth of 37% year over year, including 29% growth in U.S. sales.

Results were boosted by changes in fair values of equity method investments of $157,650 thousand and equity and long-term investments of $33,575 thousand. Cash and cash equivalents increased to $603,085 thousand as of March 31, 2026, supported by positive operating and investing cash flows.

Innoviva, Inc. reported that Chief Executive Officer Pavel Raifeld was conditionally granted equity awards as part of his compensation. He received 126,646 time-vested restricted stock units representing Common Stock and 312,500 non-statutory stock options with a $22.99 exercise price, subject to stockholder approval of the 2026 Equity Incentive Plan at the 2026 annual meeting on May 4, 2026. Twenty-five percent of each award vests on February 20, 2027, with the remaining portions vesting in twelve substantially equal quarterly installments, assuming continued service and certain change-in-control protections. Following the grant, he directly holds 285,936 shares of Common Stock and 312,500 options.

Innoviva, Inc. director Mark DiPaolo received new equity awards consisting of common stock and stock options. He was granted 9,786 shares of common stock as restricted stock units at no purchase price, increasing his direct holdings to 140,492 shares. He also received a non-statutory stock option for 10,000 shares of common stock at an exercise price of $22.99 per share, expiring in 2036.

According to the award terms, 100% of the RSUs and options will vest at the earlier of the next annual stockholder meeting or the one-year anniversary of the grant, subject to his continued service as an Outside Director. Vesting accelerates upon death, disability, or a qualifying change in control under the company’s 2026 Equity Incentive Plan.