Iovance Biotherapeutics insider exercises 9,766 RSUs
IOVANCE BIOTHERAPEUTICS, INC. reports that Chief Regulatory Officer Raj K. Puri had 9,766 restricted stock units vest on June 5, 2026, converting into an equal number of common shares at a $0.00 exercise price.
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Form Type
4
Rhea-AI Filing Summary
IOVANCE BIOTHERAPEUTICS, INC. reports that Chief Regulatory Officer Raj K. Puri had 9,766 restricted stock units vest on June 5, 2026, converting into an equal number of common shares at a $0.00 exercise price.
To satisfy mandatory tax withholding, 3,843 of the newly issued shares were withheld by the company at $4.23 per share; this was not an open-market sale. After these transactions, Puri directly holds 248,114 shares of common stock. RSUs from the same grant are scheduled to continue vesting in equal quarterly installments.
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 | 9,766 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,766 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 3,843 | $4.23 | $16K |
Holdings After Transaction:
Restricted Stock Units — 68,365 contracts (Direct);
Common Stock — 248,114 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: 9,766
Shares withheld for taxes: 3,843
Tax withholding price: $4.23 per share
+3 more
6 metrics
RSUs vested
9,766
Restricted stock units vesting and converting into common stock on June 5, 2026
Shares withheld for taxes
3,843
Common shares withheld by issuer to satisfy tax withholding at $4.23 per share
Tax withholding price
$4.23 per share
Price used for shares withheld to cover mandatory tax obligations
Post-transaction common shares
248,114
Common stock directly held by Raj K. Puri after the reported transactions
Remaining RSUs from grant
68,365
Restricted stock units remaining from the March 5, 2025 grant after the June 5, 2026 vesting
RSU exercise price
$0.00
Conversion of vested RSUs into common stock at no cash exercise price
Key Terms
Restricted Stock Units, tax withholding, derivative security, contingent right, +1 more
5 terms
Restricted Stock Units financial
"Represents such shares underlying the restricted stock units (RSUs) which vested on the transaction date"
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.
tax withholding financial
"Represents shares withheld by the Issuer to satisfy the mandatory tax withholding requirements upon vesting"
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
derivative security financial
"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.
contingent right financial
"Each RSU represents a contingent right to receive one share of the Issuer's common stock"
Rule 10b5-1 regulatory
"The Rule 10b5-1 checkbox was not marked 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 Raj K. Puri?
Raj K. Puri, Chief Regulatory Officer of Iovance Biotherapeutics, reported the vesting of 9,766 restricted stock units on June 5, 2026, converting into common shares. A portion of those shares was withheld by the company to cover mandatory tax obligations rather than sold on the open market.
Were the IOVA insider transactions under a Rule 10b5-1 plan?
The Form 4 indicates that the Rule 10b5-1 checkbox was not marked, so these transactions are not reported as occurring under a pre-arranged Rule 10b5-1 trading plan. The filing instead describes routine equity compensation vesting and related tax withholding.
What happens to Raj K. Puri’s remaining RSUs in IOVA?
Footnotes explain that the remaining restricted stock units from the March 5, 2025 grant will vest in equal quarterly installments. Those remaining RSUs are separate from the 9,766 units that vested on June 5, 2026 and converted into common shares.
Was any of the reported IOVA insider activity an open-market sale?
No. The company states that the 3,843 shares reported with transaction code F were withheld to satisfy mandatory tax withholding upon RSU vesting. The footnote clarifies this is not an open-market sale of Iovance securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
