Innoviva, Inc. — Director's Dealing 2014

May 20, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Theravance Biopharma, Inc. (TBPH)
CIK: 0001583107
Period of Report: 2014-05-15

Reporting Person: THERAVANCE INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-15	Common Stock	J	33100000	—	Disposed	0	Direct

Footnotes

F1: As of the date of this report, Theravance Biopharma, Inc. ("TBPH") is a wholly owned subsidiary of Theravance, Inc. ("THRX"). On June 2, 2014, THRX will distribute to its stockholders one ordinary share of TBPH for every 3.5 common shares of THRX that were outstanding at 5:00 p.m. Eastern Time on May 15, 2014, the record date for the distribution. Any TBPH ordinary shares held by THRX that are not distributed in the stock dividend will be surrendered by THRX to TBPH for no consideration and will not be outstanding immediately following the dividend.