[Form 4] Amazon.Com Inc Insider Trading Activity

Rhea-AI Filing Summary

On 10 July 2025 Gevo, Inc. (Nasdaq: GEVO) filed a Form 8-K reporting that the Iowa Finance Authority issued $40.0 million Solid Waste Facility Refunding Revenue Bonds (Series 2025A) for the benefit of its wholly owned subsidiary Gevo NW Iowa RNG, LLC.

Use of proceeds. The new bonds will (i) refund a portion of the $68.155 million Series 2021 green bonds that financed the dairy-based renewable natural-gas project in Iowa, (ii) pay issuance costs and (iii) fund required reserve accounts.

Key bond terms.

• $13.835 million 2030 term bonds – 8.125 % coupon, due 1 July 2030.
• $26.165 million 2036 term bonds – 8.500 % coupon, due 1 July 2036.
• Semi-annual interest payments on 1 January and 1 July, commencing 1 January 2026.

The bonds are payable solely from project-level cash flows remitted to the trustee.

Security package. Obligations are secured by a mortgage on project sites, an equity pledge, assignment of key agreements, and liens on substantially all tangible and intangible project assets.

Regulatory items disclosed. • Item 1.01 – entry into the Bond Financing Agreement (Exhibit 10.1). • Item 2.03 – creation of a direct financial obligation. • Item 7.01 – press release (Exhibit 99.1) announcing the refinancing.

Investment takeaways. The transaction demonstrates continued access to tax-exempt capital markets and extends maturity ladders to 2036, but also adds secured leverage carrying coupons above 8 %. No earnings or operating updates were included in this filing.

Positive

• Successful refinancing: Accessed $40 million in tax-exempt bond market, demonstrating continued lender support for the RNG project.
• Extended maturities: New 2036 term bonds lengthen debt profile, potentially easing near-term cash requirements.

Negative

• New secured debt: Creates a direct financial obligation with liens on project assets, increasing leverage at the subsidiary level.
• High fixed coupons: 8.125 %–8.500 % interest rates lock in significant debt-service commitments through 2036.

Insights

Project Finance Analyst

TL;DR: $40 m Series 2025A bonds refund part of 2021 green bonds; fixed 8.1–8.5 % coupons, maturities 2030/2036; leverage impact neutral.

The 8-K confirms Gevo’s RNG subsidiary successfully accessed the tax-exempt market again, securing $40 million in refunding bonds. While coupons near 8 % are materially above recent investment-grade municipals, the structure mirrors project-finance norms: non-recourse to Gevo and secured by project assets. Proceeds lower outstanding Series 2021 debt and push final maturity from 2030 to 2036 for a portion of the capital structure, smoothing near-term amortisation. Because the filing lacks comparative interest data on the refunded tranche, cost-of-capital impact cannot be quantified; nonetheless, the refinancing indicates lenders’ confidence in project cash flows after the April 2024 remarketing. From a parent-company viewpoint, the new Bond Financing Agreement constitutes a direct financial obligation but remains ring-fenced at the subsidiary level, limiting recourse. Overall, the event is operationally important yet unlikely to shift the fundamental investment thesis without updated financial metrics.

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
Estimated average burden
hours per response:			0.5

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

X

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^*

BEZOS JEFFREY P

(Last) (First) (Middle)

P.O. BOX 81226

(Street)

SEATTLE WA 98108-1226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMAZON COM INC [ AMZN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/08/2025

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, par value $.01 per share	07/08/2025		S(1)		101,081	D	$223.8804(2)	902,379,449	D
Common Stock, par value $.01 per share	07/09/2025		S(1)		384,124	D	$224.0229(3)	901,995,325	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. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 03/04/2025.

2. Represents the weighted average sale price. The highest price at which shares were sold was $223.95 and the lowest price at which shares were sold was $223.88.

3. Represents the weighted average sale price. The highest price at which shares were sold was $224.29 and the lowest price at which shares were sold was $223.88.

Remarks:

The reporting person undertakes to provide, upon request by the staff of the SEC, the issuer, or a security holder of the issuer, full information regarding the number of shares transacted at each price, with respect to all transactions reported on this Form 4.

	/s/ PAUL DAUBER, attorney-in-fact for Jeffrey P. Bezos, Executive Chair	07/10/2025
	** 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

What did Gevo (GEVO) announce in its July 10 2025 Form 8-K?

It disclosed a Bond Financing Agreement under which $40 million Series 2025A refunding bonds were issued to refinance part of the 2021 green bonds tied to its Iowa RNG project.

How much debt was issued and what will the proceeds be used for?

The Iowa Finance Authority issued $40.0 million; proceeds will refund a portion of the existing $68.155 million Series 2021 bonds, cover issuance costs and fund reserve accounts.

What are the interest rates and maturities of the new GEVO bonds?

The 2030 bonds carry an 8.125 % coupon on $13.835 million; the 2036 bonds carry an 8.500 % coupon on $26.165 million.

Are the new bonds secured?

Yes. Security includes a mortgage on project sites, an equity pledge, assignment of agreements and liens on substantially all project assets.

Does the refinancing affect Gevo’s parent-level balance sheet?

The obligation is disclosed under Item 2.03, but payments are to be made from project cash flows; the filing does not state parent-company guarantees.