secwatch.observer — SEC 8-K summary
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Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0000899140-22-000493
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innoviva enters new CEO employment agreement with Pavel Raifeld through April 2024
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- Base salary $455k in year one, $500k in year two; bonus target 70% then 80% of salary.
- Option grant of 150,000 shares; 25% vesting immediately, rest quarterly over three years with acceleration on change-in-control involuntary termination.
- Severance without cause: continued salary for longer of 6 months or through April 30, 2024, plus pro-rata bonus subject to release.
- Initial term May 1, 2022 to April 30, 2024; automatic renewal for one-year periods unless 60-day non-extension notice given.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000089914022000493/0000899140-22-000493-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000089914022000493/i52714371a.htm
  HTML page:      https://secwatch.observer/filing/0000899140-22-000493

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