AST SpaceMobile CEO withholds shares for taxes
AST SpaceMobile, Inc. Chief Executive Officer Abel Avellan reported a routine tax-withholding transaction related to equity compensation.
Rhea-AI Filing Summary
AST SpaceMobile, Inc. Chief Executive Officer Abel Avellan reported a routine tax-withholding transaction related to equity compensation. The company withheld 32,754 shares of Class A common stock at $113.41 per share to cover tax liabilities on the vesting of Restricted Stock Units representing 83,333 shares, resulting in 50,579 net vested shares. Following this transaction, Avellan directly holds 78,542,209 shares of Class A common stock and also holds AST Common Units that are redeemable on a one-to-one basis for 78,163,078 shares of Class A common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise Price or Tax Liability: 32,754 shares
Exercise Price or Tax Liability
3 txns
Insider
Avellan Abel Antonio
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 32,754 | $113.41 | $3.71M |
| holding | Common Units | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 78,542,209 shares (Direct);
Common Units — 78,163,078 contracts (Direct);
Class C Common Stock — 78,163,078 shares (Direct)
Footnotes (3)
- F1. Represents a payment of tax liability by withholding securities incident to the vesting of Restricted Stock Units representing 83,333 shares of Class A Common Stock issued in accordance with Rule 16b-3, resulting in a net vested number of 50,579 shares.
- F2. The securities reported in this line item represent AST Common Units. At any time on or after April 6, 2022, these AST Common Units may be redeemed by the Reporting Person in exchange for shares of Class A common stock of the Issuer on a one-to-one basis. When a holder of Class C common stock of the Issuer exchanges AST Common Units for shares of Class A common stock of the Issuer, a number of shares of Class C common stock of the Issuer equal to the number of such AST Common Units will be immediately retired by the Issuer and will no longer be outstanding. The AST Common Units do not expire.
- F3. In connection with the closing of the business combination between New Providence Acquisition Corp. and AST & Science, LLC ("AST") on April 6, 2021, each existing common unit previously issued by AST was reclassified and reissued by AST into new Common Units on a 1-to-14.50149869 basis. In addition, each equityholder of Common Units received an equivalent number of Class B Common Stock or Class C Common Stock of the Issuer, as applicable.
Key Figures
Shares withheld for taxes: 32,754 shares
Withholding price: $113.41 per share
RSU shares vested: 83,333 shares
+4 more
7 metrics
Shares withheld for taxes
32,754 shares
Class A common stock withheld for tax liability on RSU vesting
Withholding price
$113.41 per share
Price used for 32,754 withheld Class A shares
RSU shares vested
83,333 shares
Restricted Stock Units converting into Class A common stock
Net vested shares
50,579 shares
Class A shares received by CEO after tax withholding
Class A shares held
78,542,209 shares
Direct Class A common stock holdings following transaction
Exchangeable AST Common Units
78,163,078 units
Units redeemable one-to-one for Class A common stock
Exercise price of units
$0.0000
Redemption price of AST Common Units into Class A shares
Key Terms
Restricted Stock Units, AST Common Units, Class C common stock, Rule 16b-3, +1 more
5 terms
Restricted Stock Units financial
"Represents a payment of tax liability by withholding securities incident to the vesting of Restricted Stock Units representing 83,333 shares"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
AST Common Units financial
"The securities reported in this line item represent AST Common Units. At any time on or after April 6, 2022, these AST Common Units may be redeemed"
Class C common stock financial
"When a holder of Class C common stock of the Issuer exchanges AST Common Units for shares of Class A common stock"
A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.
Rule 16b-3 regulatory
"Restricted Stock Units representing 83,333 shares of Class A Common Stock issued in accordance with Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
business combination financial
"In connection with the closing of the business combination between New Providence Acquisition Corp. and AST & Science, LLC"
A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.
FAQ
What insider transaction did AST SpaceMobile (ASTS) report for its CEO?
AST SpaceMobile reported that CEO Abel Avellan had shares withheld to cover tax liabilities on vested Restricted Stock Units. This non-market transaction used 32,754 Class A shares, while 50,579 shares vested net to him.
What are AST Common Units held by the AST SpaceMobile (ASTS) CEO?
The AST Common Units held by the CEO are instruments redeemable on or after April 6, 2022, for Class A common shares on a one-to-one basis. When exchanged, an equal number of Class C common shares is retired and ceases to be outstanding.
AI-generated analysis. How Rhea-AI works. Not financial advice.
