Iovance CRO has 9,766 RSUs vest into shares
IOVA’s Chief Regulatory Officer reports RSU vesting with shares withheld for taxes, not sold on the open market.
Rhea-AI Filing Summary
IOVANCE BIOTHERAPEUTICS, INC. (IOVA) reported that Chief Regulatory Officer Raj K. Puri had restricted stock units vest on September 8, 2026, converting 9,766 RSUs into an equal number of common shares. Of these, 4,478 shares were withheld by the company at $8.70 per share to satisfy mandatory tax withholding requirements, which the company notes was not an open-market sale. Following the RSU exercise, 58,599 RSUs from the March 5, 2025 grant remain outstanding and will vest in equal quarterly installments, and no Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
9,766 shares exercised/converted
Exercise
3 txns
Insider
Puri Raj K.
Role
Chief Regulatory Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F4, F5, F6 | 9,766 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 9,766 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2, F3 | 4,478 | $8.70 | $39K |
Holdings After Transaction:
Restricted Stock Units — 58,599 contracts (Direct);
Common Stock — 256,364 shares (Direct)
Footnotes (6)
- F1. Represents such shares underlying the restricted stock units ("RSUs") which vested on the transaction date.
- F2. Represents shares withheld by the Issuer to satisfy the mandatory tax withholding requirements upon vesting of the RSUs. This is not an open market sale of securities.
- F3. Represents the common stock remaining after deducting the common stock withheld for taxes.
- F4. Each RSU represents a contingent right to receive one share of the Issuer's common stock.
- F5. The remaining RSUs will vest in equal quarterly installments.
- F6. Such aggregate number reflects the remainder of such RSUs granted on March 5, 2025, but does not include any other RSUs held by such Reporting Person.
Key Figures
RSUs vested and converted: 9,766 units/shares
Shares withheld for taxes: 4,478 shares
Tax withholding price: $8.70 per share
+1 more
4 metrics
RSUs vested and converted
9,766 units/shares
Restricted stock units vested and converted into common stock on September 8, 2026
Shares withheld for taxes
4,478 shares
Common shares withheld by issuer to satisfy mandatory tax withholding upon RSU vesting
Tax withholding price
$8.70 per share
Value used for shares withheld to satisfy tax withholding requirements
Remaining RSUs from March 5, 2025 grant
58,599 units
Unvested RSUs still outstanding from the March 5, 2025 grant after this vesting event
Key Terms
Restricted Stock Units, mandatory tax withholding requirements, contingent right, Rule 10b5-1
4 terms
Restricted Stock Units financial
"Represents such shares underlying the restricted stock units (RSUs) which vested"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
mandatory tax withholding requirements financial
"shares withheld by the Issuer to satisfy the mandatory tax withholding requirements"
contingent right financial
"Each RSU represents a contingent right to receive one share"
Rule 10b5-1 regulatory
"No Rule 10b5-1 trading plan is reported for these transactions"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did IOVA report for Chief Regulatory Officer Raj K. Puri?
IOVA reported that Raj K. Puri had 9,766 restricted stock units vest on September 8, 2026, converting into the same number of common shares, with a portion of those shares withheld to cover mandatory tax withholding requirements.
How many IOVA restricted stock units does Raj K. Puri still hold from the March 5, 2025 grant?
After the reported vesting, the Form 4 indicates that 58,599 RSUs from the March 5, 2025 grant remain outstanding. The footnotes add that this figure does not include any other RSUs held by the reporting person.
What is the vesting schedule for Raj K. Puri’s remaining IOVA RSUs?
The filing states that the remaining RSUs will vest in equal quarterly installments. This schedule applies to the unvested portion of the RSUs referenced, following the September 8, 2026 vesting event reported in the Form 4.
Was a Rule 10b5-1 trading plan involved in the IOVA Form 4 transactions?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not marked, and the footnotes do not reference any trading plan, so the reported RSU vesting and related tax withholding are not identified as pursuant to a Rule 10b5-1 plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
