IOVANCE (IOVA) CMO reports RSU vesting and tax withholding share disposition
Rhea-AI Filing Summary
IOVANCE BIOTHERAPEUTICS, INC. Chief Medical Officer Friedrich Graf Finckenstein reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. On the transaction date, RSUs covering 8,790 shares of common stock vested, and an equivalent number of common shares were issued upon conversion of the RSUs.
To cover mandatory tax withholding on this vesting, 4,473 common shares were withheld by the company at a price of $3.96 per share, which the filing notes was not an open market sale. After these transactions, the reporting person directly held 136,274 shares of common stock and 26,369 RSUs, with the remaining RSUs scheduled to vest in equal quarterly installments.
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- None.
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Insider Trade Summary
Net Buyer: 4,317 shares
Net Buy
3 txns
Insider
GRAF FINCKENSTEIN FRIEDRICH
Role
Chief Medical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 8,790 | $0.00 | $0.00 |
| Exercise | Common Stock | 8,790 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 4,473 | $3.96 | $18K |
Holdings After Transaction:
Restricted Stock Units — 26,369 shares (Direct);
Common Stock — 136,274 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 1, 2024, but does not include any other RSUs held by such Reporting Person.
Key Figures
RSUs vested: 8,790 shares
Shares withheld for taxes: 4,473 shares
Withholding reference price: $3.96 per share
+2 more
5 metrics
RSUs vested
8,790 shares
Restricted stock units converting into common stock on transaction date
Shares withheld for taxes
4,473 shares
Common stock withheld to satisfy mandatory tax withholding
Withholding reference price
$3.96 per share
Price used for tax withholding share value
Common stock held after
136,274 shares
Direct common stock ownership following transactions
RSUs remaining
26,369 units
Remaining RSUs after vesting event, vesting quarterly
Key Terms
Restricted Stock Units, mandatory 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.
mandatory tax withholding financial
"Represents shares withheld by the Issuer to satisfy the mandatory tax withholding requirements upon vesting of the RSUs."
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.
contingent right financial
"Each RSU represents a contingent right to receive one share of the Issuer's common stock."
vest in equal quarterly installments financial
"The remaining RSUs will vest in equal quarterly installments."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity transactions did IOVANCE BIOTHERAPEUTICS (IOVA) report for its Chief Medical Officer?
The Chief Medical Officer reported RSUs for 8,790 shares vesting into common stock. To satisfy tax obligations, 4,473 shares were withheld by the company. The filing characterizes this as routine compensation-related activity rather than an open market share sale.
What happened to the restricted stock units (RSUs) reported in this IOVA Form 4?
RSUs covering 8,790 shares of common stock vested and converted into the same number of common shares. Each RSU represents a contingent right to receive one share, and the remaining RSUs will vest in equal quarterly installments according to the disclosed vesting schedule.
Are the remaining RSUs for the IOVA Chief Medical Officer subject to a vesting schedule?
Yes, the filing notes that the remaining RSUs will vest in equal quarterly installments. The aggregate 26,369 RSUs reflect the remainder of a grant made on March 1, 2024, and do not include any other RSUs the reporting person may hold.