Invivyd appointed Chairman Marc Elia chief executive officer effective August 30, 2026, and granted him an option for 10,700,000 common shares. The change also moves board committee responsibilities to Ajay Royan and gives Elia a $750,000 salary, 70% target Bonus and $500,000 sign-on bonus, defining new executive and governance terms for investors.

Key Highlights

  • Ajay Royan became Invivyd’s Lead Independent Director and took over as chair of the Nominating and Corporate Governance Committee.
  • Ian Sheffield joined the board and will receive annual retainers of $40,000, $7,500 and $5,000 for board and committee service.
  • Marc Elia’s employment terms include a 70% target bonus and a $500,000 sign-on payment subject to potential repayment.

Invivyd, Inc. (NASDAQ: IVVD) appointed Chairman Marc Elia as chief executive officer effective August 30, 2026, giving him the principal executive role previously held by Chief Financial Officer William Duke, Jr. Elia will receive an option to purchase 10,700,000 shares of common stock, with vesting tied to continued service.

Elia’s CEO Compensation and Board Changes

Elia’s employment agreement sets his annual base salary at $750,000 and his initial target annual cash bonus at 70% of base salary. The award expires on the tenth anniversary of its grant date unless ended earlier under its terms. Ajay Royan became Lead Independent Director and replaced Elia as chair of the Nominating and Corporate Governance Committee. Ian Sheffield joined the board on August 30, 2026, was appointed to the Compensation Committee and replaced Elia on the Audit Committee. Sheffield will receive annual cash retainers of $40,000 for board service, $7,500 for Audit Committee service and $5,000 for Compensation Committee service. Invivyd also granted him an option to purchase 100,000 common shares on August 31, 2026, with vesting over three years. Elia is also eligible for a one-time transaction bonus tied to Equity value: 0.5% at $5.0 billion or more but below $10.0 billion, 1.0% at $10.0 billion or more but below $20.0 billion, and 1.5% at $20.0 billion or more. No transaction bonus is payable below $5.0 billion.

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