Faraday Future Co-CEO Acquires 98,000 Class A Shares via 10b5-1 Plan
Rhea-AI Filing Summary
Jia Yueting, Global Co-CEO of Faraday Future Intelligent Electric Inc., reported purchases of Class A common stock on 09/08/2025. The filing shows a Code P transaction for 98,000 shares acquired at a weighted average price of $1.8084 per share, bringing the reporting person’s beneficial ownership to 531,838 shares. The purchases were made under a Rule 10b5-1 trading plan adopted on May 23, 2025 that authorizes up to $560,000 of purchases and expires on August 25, 2026. The filing states the reported price is a weighted average and that shares were bought at prices ranging from $1.7995 to $1.83.
Positive
- Insider purchase disclosed: 98,000 shares were acquired, increasing beneficial ownership to 531,838 shares.
- Transaction executed under Rule 10b5-1: Plan adoption date (May 23, 2025), authorized limit ($560,000), and expiration (Aug 25, 2026) are disclosed.
- Pricing transparency: Filing provides weighted average price of $1.8084 and a disclosed price range of $1.7995 to $1.83.
Negative
- None.
Insights
TL;DR: Insider purchases 98,000 shares under a 10b5-1 plan, modestly increasing beneficial ownership to 531,838 shares.
The reported Code P transactions indicate authorized purchases executed under a pre-established Rule 10b5-1 plan, which limits the signaling of discretionary insider buys. The weighted average price of $1.8084 for 98,000 shares implies a cash outlay near $177,000. For investors, this documents an insider accumulating stock but within an automated plan; the increase in beneficial ownership is clear and verifiable from the filing.
TL;DR: Transaction executed under an adopted 10b5-1 plan, properly disclosed and signed; plan details and range of prices are provided.
The Form 4 includes required disclosure elements: transaction date, number of shares, weighted average price, post-transaction ownership, and an explanation referencing the 10b5-1 plan adoption and expiration dates. The reporting person offers to provide detailed per-price purchase breakdowns upon request, which supports transparency in the disclosure.