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EVgo Form 4: CEO equity awards vest, 741,048 shares held

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

EVgo Inc. insider activity centers on equity awards vesting for the Chief Executive Officer and Director. On November 13, 2025, multiple restricted stock unit grants converted into Class A common stock, including tranches of 234,742, 78,247, and 27,269 shares at an exercise price of $0. To cover tax withholding, the company withheld shares in separate transactions at a price of $2.99 per share. After these transactions, the reporting person directly owned 741,048 shares of EVgo Class A common stock. Performance-based restricted stock units remain subject to share price performance goals and continued employment through scheduled vesting dates.

Positive

  • None.

Negative

  • None.
Insider Khan Badar
Role Chief Executive Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 234,742 $0.00 --
Exercise Performance Based Restricted Stock Units 78,247 $0.00 --
Exercise Restricted Stock Units 27,269 $0.00 --
Exercise Class A Common Stock 234,742 $0.00 --
Tax Withholding Class A Common Stock 59,508 $2.99 $178K
Exercise Class A Common Stock 78,247 $0.00 --
Tax Withholding Class A Common Stock 19,836 $2.99 $59K
Exercise Class A Common Stock 27,269 $0.00 --
Tax Withholding Class A Common Stock 6,913 $2.99 $21K
Holdings After Transaction: Restricted Stock Units — 234,742 shares (Direct); Performance Based Restricted Stock Units — 547,731 shares (Direct); Class A Common Stock — 721,789 shares (Direct)
Footnotes (1)
  1. Restricted stock units ("RSUs") awarded under the Issuer's 2021 Long Term Incentive Plan (the "Plan"). Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's Class A common stock, $0.0001 par value ("Class A Common Stock"). On November 13, 2025, the Reporting Person's RSUs vested. The closing price of the Class A Common Stock on November 13, 2025 was the settlement price used to calculate the shares withheld. The RSUs vest in three equal installments on each of the first three anniversaries of November 13, 2023, subject to the Reporting Person's continued employment through the applicable vesting date. Performance-based restricted stock units ("PRSUs") awarded under the Plan. Each PRSU represents the contingent right to receive, upon vesting of the PRSU, one share of Class A Common Stock. The PRSUs generally vest in three equal installments on the first three anniversaries of November 13, 2023, provided that the applicable performance goal has been achieved by such date (and, if not, on the date the applicable performance goal is subsequently achieved) and the Reporting Person's continued employment through the applicable vesting date, and subject to the continuous service of the Reporting Person through the applicable vesting date. The applicable performance goal for each tranche of PRSUs will be satisfied if the Class A Common Stock achieves a specified per share price for such tranche calculated based on a 20-day volume weighted average price at any time prior to November 13, 2028.
Form 4 Insider Transactions: What Each Field Means →
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).
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*
Khan Badar
(Last) (First) (Middle)
C/O EVGO INC.
1661 EAST FRANKLIN AVENUE
(Street)
EL SEGUNDO CA 90245
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
EVgo Inc. [ EVGO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
11/13/2025
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
Class A Common Stock(1) 11/13/2025 M 234,742 A $0 721,789 D
Class A Common Stock 11/13/2025 F 59,508 D $2.99(2) 662,281 D
Class A Common Stock(1) 11/13/2025 M 78,247 A $0 740,528 D
Class A Common Stock 11/13/2025 F 19,836 D $2.99(2) 720,692 D
Class A Common Stock(1) 11/13/2025 M 27,269 A $0 747,961 D
Class A Common Stock 11/13/2025 F 6,913 D $2.99(2) 741,048 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
Restricted Stock Units (1) 11/13/2025 M 234,742 (3) (3) Class A Common Stock 234,742 $0.00 234,742 D
Performance Based Restricted Stock Units (4) 11/13/2025 M 78,247 (4) (4) Class A Common Stock 78,247 $0.00 547,731 D
Restricted Stock Units (1) 11/13/2025 M 27,269 (3) (3) Class A Common Stock 27,269 $0.00 27,269 D
Explanation of Responses:
1. Restricted stock units ("RSUs") awarded under the Issuer's 2021 Long Term Incentive Plan (the "Plan"). Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's Class A common stock, $0.0001 par value ("Class A Common Stock").
2. On November 13, 2025, the Reporting Person's RSUs vested. The closing price of the Class A Common Stock on November 13, 2025 was the settlement price used to calculate the shares withheld.
3. The RSUs vest in three equal installments on each of the first three anniversaries of November 13, 2023, subject to the Reporting Person's continued employment through the applicable vesting date.
4. Performance-based restricted stock units ("PRSUs") awarded under the Plan. Each PRSU represents the contingent right to receive, upon vesting of the PRSU, one share of Class A Common Stock. The PRSUs generally vest in three equal installments on the first three anniversaries of November 13, 2023, provided that the applicable performance goal has been achieved by such date (and, if not, on the date the applicable performance goal is subsequently achieved) and the Reporting Person's continued employment through the applicable vesting date, and subject to the continuous service of the Reporting Person through the applicable vesting date. The applicable performance goal for each tranche of PRSUs will be satisfied if the Class A Common Stock achieves a specified per share price for such tranche calculated based on a 20-day volume weighted average price at any time prior to November 13, 2028.
/s/ Badar Khan, by Francine Sullivan, as Attorney-in-Fact 11/17/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did EVgo (EVGO) disclose in this Form 4 filing?

EVgo reported that its Chief Executive Officer and Director had several grants of restricted stock units (RSUs) and performance-based RSUs vest on November 13, 2025, resulting in the issuance of Class A common stock and the withholding of some shares to satisfy tax obligations.

How many EVgo RSUs vested for the reporting person on November 13, 2025?

On November 13, 2025, RSU-related transactions included vesting and settlement of 234,742, 78,247, and 27,269 restricted stock units into shares of EVgo Class A common stock under the company’s 2021 Long Term Incentive Plan.

How many EVgo shares does the reporting person own after these transactions?

Following the reported transactions on November 13, 2025, the reporting person directly owned 741,048 shares of EVgo Class A common stock, as shown in the non-derivative securities table.

What price was used to withhold EVgo shares for taxes in this Form 4?

The filing states that shares of EVgo Class A common stock were withheld to satisfy tax obligations at a price of $2.99 per share, which was the closing price on November 13, 2025.

What are EVgo performance-based RSUs (PRSUs) and how do they vest?

Performance-based RSUs (PRSUs) each represent the right to receive one share of Class A common stock upon vesting. They generally vest in three equal installments on the first three anniversaries of November 13, 2023, if the applicable share price performance goal is achieved before November 13, 2028 and the reporting person remains in continuous service through each vesting date.

Under what plan were the EVgo RSUs and PRSUs granted?

The RSUs and PRSUs reported in this Form 4 were granted under EVgo Inc.’s 2021 Long Term Incentive Plan, and each unit represents a contingent right to receive one share of the company’s Class A common stock upon vesting.