GEVO insider Andrew Shafer reports 5,000-share sale at $2.01 under trading plan

Rhea-AI Filing Summary

Andrew Shafer, Chief Customer, Marketing & Brand Officer at Gevo (GEVO), reported insider sales under a pre-established trading plan. On 09/22/2025 he disposed of 5,000 shares of Gevo common stock at a weighted-average price of $2.0124 per share, with the sales executed pursuant to a 10b5-1 plan adopted on November 22, 2024. Following the reported transactions, the filing shows the reporting person beneficially owned 320,620 shares directly and an additional 9,803.21 shares indirectly through a 401(k) plan. The filing notes that 3.71 shares were disposed under the 401(k) to cover administrative fees between 08/20/2025 and 09/22/2025.

Positive

• Sale executed under a 10b5-1 trading plan, reducing concerns about trading on material nonpublic information
• Meaningful retained ownership of 320,620 shares indicates continued insider alignment with shareholders
• Clear disclosure of weighted-average sale price and plan adoption date enhances transparency

Negative

• Insider sale of 5,000 shares represents a reduction in insider holdings (though modest in context)
• 401(k) disposals (3.71 shares) indicate minor plan-related reductions, though immaterial

Insights

Corporate Governance Expert

TL;DR: Insider sold a small block under a pre-established 10b5-1 plan; ownership remains material.

The transaction is an orderly disposal of 5,000 shares executed under a 10b5-1 plan, which reduces the risk that the sale reflects contemporaneous insider information. The reporting person continues to hold a substantial direct position of 320,620 shares, indicating ongoing economic alignment with shareholders. The 401(k) disposals were minimal and administrative in nature. From a governance standpoint, the filing follows standard disclosure practices and provides the plan adoption date and weighted-average price range.

Securities Analyst

TL;DR: Small insider sale at ~$2.01; not likely material to valuation but worth noting for trading flow.

The sale of 5,000 shares at a weighted-average price of $2.0124 is modest relative to the reported 320,620 shares still held, so the economic impact on the officer's stake is limited. Use of a 10b5-1 plan adds predictability to the timing and reduces informational asymmetry concerns. The filing discloses exact ranges for executed prices and a plan adoption date, which improves transparency for investors and compliance reviewers.

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^*

Shafer Andrew

(Last) (First) (Middle)

C/O GEVO, INC. 345 INVERNESS DRIVE SOUTH

BUILDING C, SUITE 310

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Gevo, Inc. [ GEVO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Cust Mkt & Brnd Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

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	09/22/2025		S(1)		5,000	D	$2.0124(2)	320,620	D
Common Stock								9,803.21(3)	I	By 401(k) Plan

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 reported sales were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 22, 2024.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.01 to $2.025 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to 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 set forth in this footnote.

3. Between August 20, 2025 and September 22, 2025, the reporting person disposed of 3.71 shares of the issuer's common stock under the issuer's 401(k) plan to cover administrative fees. The information in this report is based on a plan statement dated August 25, 2025.

	/s/ E. Cabell Massey, Attorney-in-Fact	09/22/2025
	** 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 Andrew Shafer (GEVO) disclose on Form 4 dated 09/22/2025?

He reported selling 5,000 shares of Gevo common stock at a weighted-average price of $2.0124 per share under a 10b5-1 plan and holds 320,620 shares directly.

Were the sales by the Gevo officer part of a 10b5-1 plan?

Yes; the filing states the sales were effected pursuant to a 10b5-1 trading plan adopted on November 22, 2024.

How many Gevo shares does the reporting person own after the transaction?

320,620 shares directly plus 9,803.21 shares indirectly through a 401(k) plan, per the Form 4.

What price range were the sold GEVO shares executed at?

Prices ranged from $2.01 to $2.025 per share; the reported weighted-average price was $2.0124.

Were any shares disposed of from the reporting person's 401(k)?

Yes; 3.71 shares were disposed between 08/20/2025 and 09/22/2025 to cover administrative fees, based on a plan statement dated 08/25/2025.