X0204 3 2012-01-03 0 0001055726 INOVIO PHARMACEUTICALS, INC. INO 0001464547 Sardesai Niranjan 11494 SORRENTO VALLEY ROAD SUITE A SAN DIEGO CA 92121 0 1 0 0 Chief Operating Officer Common Stock 66800 D Common Stock Option 1.53 2006-08-28 2016-08-28 Common Stock 132462 D Common Stock Option 1.53 2007-01-05 2017-01-05 Common Stock 24530 D Common Stock Option 1.53 2007-01-18 2017-01-18 Common Stock 14718 D Common Stock Option 1.53 2007-11-01 2017-11-01 Common Stock 73590 D Common Stock Option 1.53 2008-09-12 2018-09-12 Common Stock 29436 D Common Stock Option 1.53 2008-09-12 2018-09-12 Common Stock 19624 D Common Stock Option 1.57 2009-09-30 2019-09-30 Common Stock 120000 D Common Stock Option 1.14 2011-03-11 2021-03-11 Common Stock 120000 D Issued upon assumption of outstanding VGX Pharmaceutical Inc. stock options in conjunction with closing of the business combination transaction between VGX Pharmaceuticals and Inovio Pharmaceuticals, Inc. on June 1, 2009. As of January 4, 2012, options are fully vested and exercisable. The vesting schedule for the 120,000 options is as follows: 30,000 shares vested on September 30, 2009; 30,000 shares vested on September 30, 2010; 30,000 shares vested on September 30, 2011; 30,000 shares will vest on September 30, 2012. The vesting schedule for the 120,000 options is as follows: 30,000 shares vested on March 11, 2011; 30,000 shares will vest on March 11, 2012; 30,000 shares will vest on March 11, 2013; 30,000 shares will vest on March 11, 2014 /s/ Niranjan Sardesai 2012-01-04