[Form 4] Aeva Technologies, Inc. Warrants Insider Trading Activity

Rhea-AI Filing Summary

On 18 June 2025, Director Hrach Simonian filed a Form 4 detailing the sale of an aggregate 100,000 shares of Aeva Technologies, Inc. (AEVA) common stock executed on 16 June 2025.

The sales were completed in three blocks:

• 13,922 shares at a weighted-average price of $23.9141 (range $23.27–$24.265)
• 60,868 shares at $24.8217 (range $24.295–$25.29)
• 25,210 shares at $25.4937 (range $25.295–$25.80)

All transactions were executed indirectly through Canaan XI, L.P. Following the dispositions, the fund’s indirect holding declined from 3,697,039 to 3,597,039 shares. Simonian, a manager and member of Canaan Partners XI LLC (general partner of Canaan XI), continues to disclaim beneficial ownership beyond his pecuniary interest. A separate direct holding of 105,323 shares is reported and remains unchanged.

No derivative securities were acquired or disposed of, and the filing includes the customary note that granular trade-level price data is available upon request. The Form 4 therefore signals a modest reduction—approximately 2.7%—in the Canaan entities’ position while maintaining a sizeable long exposure to AEVA.

Positive

• Canaan XI retains 3,597,039 AEVA shares, indicating continued sizeable exposure despite the sale.
• No derivative transactions or complex instruments were reported, simplifying the ownership picture.

Negative

• Director-affiliated entity sold 100,000 shares, which can be interpreted as a modest bearish signal.
• Insider selling may pressure near-term sentiment even though the percentage of total holdings is small.

Insights

Securities Analyst

TL;DR Insider sold 100k AEVA shares (≈2.7% of stake); still holds 3.6 M—signal mildly negative but not thesis-changing.

The filing shows Canaan-affiliated director Hrach Simonian trimming 100,000 AEVA shares at weighted prices between $23.91 and $25.49. Post-sale, the fund retains 3.597 M shares, so the reduction is modest in relative terms. No derivatives were involved, and the direct holding of 105,323 shares was untouched. While any insider sale can pressure sentiment, the small percentage of total ownership and continued large position suggest portfolio rebalancing rather than a decisive bearish view. I view the impact as neutral to slightly negative.

Corporate Governance Expert

TL;DR Routine Form 4; limited size; governance disclosure appears complete—no red flags beyond standard insider selling optics.

The report meets Section 16 requirements, supplying weighted-average prices, price ranges, and an explicit disclaimer of beneficial ownership. The power-of-attorney signature indicates proper delegation. Importantly, the filing clarifies indirect ownership structure through Canaan XI and maintains transparency on residual holdings. The 2.7% trim is typical fund-level liquidity management and does not affect board independence or trigger ownership-change provisions. From a governance perspective, the event is not materially impactful.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Simonian Hrach

(Last) (First) (Middle)

C/O CANAAN PARTNERS

2765 SAND HILL ROAD

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aeva Technologies, Inc. [ AEVA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/16/2025		S		13,922	D	$23.9141(1)	3,683,117	I(2)	By Canaan XI, L.P.(2)
Common Stock	06/16/2025		S		60,868	D	$24.8217(3)	3,622,249	I(2)	By Canaan XI, L.P.(2)
Common Stock	06/16/2025		S		25,210	D	$25.4937(4)	3,597,039	I(2)	By Canaan XI, L.P.(2)
Common Stock								105,323	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $23.27 to $24.265. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

2. Represents shares held directly by Canaan XI, L.P. (the "Canaan Fund"). The sole general partner of the Canaan Fund is Canaan Partners XI LLC ("Canaan XI", and together with the Canaan Fund, the "Canaan Entities"). Canaan XI may be deemed to have sole voting, investment and dispositive power with respect to the shares held by the Canaan Fund. The Reporting Person is a manager and member of Canaan XI. The Reporting Person disclaims Section 16 beneficial ownership in the securities held by the Canaan Entities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for Section 16 or any other purpose.

3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $24.295 to $25.29. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $25.295 to $25.80. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Remarks:

Exhibit 24 Power of Attorney

	/s/ Nancy Levenson, Attorney-in-Fact for Hrach Simonian	06/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many AEVA shares did Director Hrach Simonian sell on 16 June 2025?

He sold 100,000 shares in total across three transactions.

What price ranges were the AEVA shares sold at according to the Form 4?

Prices ranged from $23.27 to $25.80, with weighted averages of $23.9141, $24.8217, and $25.4937.

How many AEVA shares does Canaan XI, L.P. own after the reported sales?

The indirect holding stands at 3,597,039 shares following the disposition.

Does the filing disclose any derivative security transactions?

No. Table II reports zero derivative acquisitions or disposals.

When was the Form 4 filed and what is the transaction date?

The Form 4 was filed on 18 June 2025; the transactions occurred on 16 June 2025.