secwatch.observer — SEC 8-K summary
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Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2023-08-25T23:59:59+00:00
Accession:  0001104659-23-095406
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innoviva appoints Stephen Basso as CFO with $450K salary, $100K signing bonus
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- Stephen Basso appointed CFO effective August 21, 2023; brings 30+ years pharma/finance leadership experience.
- Base salary $450K, target annual bonus 40% of base, one-time $100K signing bonus (repayable if leaves within 1 year for cause).
- Initial grant of 150,000 nonqualified stock options; vesting 25% on 1st anniversary, then quarterly over 3 years.
- Severance: 12 months salary continuation, COBRA, and accelerated vesting on change-in-control termination without cause or for good reason.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000110465923095406/0001104659-23-095406-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000110465923095406/tm2324789d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-095406

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