Gevo Insider Sale: Shafer Disposes 5,000 Shares Under 10b5-1 Plan

Rhea-AI Filing Summary

Gevo, Inc. insider Andrew Shafer reported selling 5,000 shares of Common Stock on 08/20/2025 at a weighted average price of $1.5833 per share under a 10b5-1 trading plan adopted November 22, 2024. After the reported sale, the filing shows Mr. Shafer beneficially owns 325,620 shares directly and an additional 9,806.92 shares indirectly through the issuer's 401(k) plan. The filing also discloses that between 07/21/2025 and 08/20/2025 he disposed of 3.77 shares under the 401(k) plan to cover administrative fees. The Form 4 was signed by an attorney-in-fact on 08/21/2025.

Positive

• Sale executed under a 10b5-1 plan, indicating pre-established trading instructions and an affirmative defense
• Clear post-transaction ownership disclosure: 325,620 shares direct and 9,806.92 shares indirect via 401(k)
• Weighted average price and range disclosed ($1.5833 weighted average; $1.570–$1.605 range) which improves transparency

Negative

• None.

Insights

Securities Analyst

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

The reported sale of 5,000 shares was executed pursuant to a 10b5-1 plan, which indicates the transactions were pre-authorized and intended to provide an affirmative defense under Rule 10b5-1. The sale price range provided ($1.570 to $1.605) and the weighted average of $1.5833 are explicitly disclosed. Post-transaction holdings show 325,620 shares directly and 9,806.92 indirectly via the 401(k) plan, which preserves meaningful ownership alignment with shareholders. The disposal of 3.77 shares in the 401(k) plan is immaterial in size and was to cover administrative fees per the plan statement.

Corporate Governance Expert

TL;DR: Governance practice appears compliant: sale under 10b5-1 and disclosure of 401(k) activity.

The filing clearly states the 10b5-1 plan adoption date and provides a weighted average sale price plus the per-share range, supporting transparency. The separate disclosure of direct and indirect holdings (including 401(k) dispositions) follows Form 4 disclosure norms. There are no statements in the filing indicating any unusual or undisclosed arrangements; the signature by an attorney-in-fact on 08/21/2025 is included as executed.

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)
08/20/2025

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	08/20/2025		S(1)		5,000	D	$1.5833(2)	325,620	D
Common Stock								9,806.92(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 $1.570 to $1.605 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 July 21, 2025 and August 20, 2025, the reporting person disposed of 3.77 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 July 25, 2025.

	/s/ E. Cabell Massey, Attorney-in-Fact	08/21/2025
	** 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 insider transactions did Andrew Shafer report on the Form 4 for GEVO?

The Form 4 reports that Andrew Shafer sold 5,000 shares of GEVO common stock on 08/20/2025 under a 10b5-1 plan at a weighted average price of $1.5833.

How many GEVO shares does Andrew Shafer beneficially own after the reported sale?

Following the reported transaction Mr. Shafer beneficially owns 325,620 shares directly and 9,806.92 shares indirectly through the issuer's 401(k) plan.

Was the sale part of a pre‑approved trading plan?

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

Did the Form 4 disclose any 401(k) plan activity?

Yes. The filing discloses that between 07/21/2025 and 08/20/2025 the reporting person disposed of 3.77 shares under the issuer's 401(k) plan to cover administrative fees.

When was the Form 4 signed and who signed it?

The Form 4 was signed by E. Cabell Massey, Attorney-in-Fact on 08/21/2025.