Gorilla Technology CEO reports RSU and share holdings
Gorilla Technology Group Inc. director and CEO/Chairman Chandan Jayesh reported his initial ownership in a Form 3.
Rhea-AI Filing Summary
Gorilla Technology Group Inc. director and CEO/Chairman Chandan Jayesh reported his initial ownership in a Form 3. He directly holds 1,095,471 ordinary shares, plus restricted stock units that can convert into additional shares.
These include 119,178 RSUs granted under the 2023 Omnibus Incentive Plan that vest on July 13, 2026, subject to continuous service and award terms. He also holds 550,000 performance-based RSUs tied to market capitalization milestones: 250,000 shares if market cap exceeds $500 million, and an additional 100,000 shares at each of $1 billion, $2 billion, and $3 billion for 20 consecutive trading days before January 1, 2030, subject to service and award conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Chandan Jayesh
Role
CEO/Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 669,178 contracts (Direct);
Ordinary Shares — 1,095,471 shares (Direct)
Footnotes (3)
- F1. Restricted stock units ("RSUs") granted under the Issuer's 2023 Omnibus Incentive Plan (the "Plan") that vest on July 13, 2026, subject to the Reporting Person's continuous service through the vesting date and the terms and conditions of the underlying award agreement.
- F2. Each RSU represents the right to receive one ordinary share of the Issuer.
- F3. This performance based RSU award in amount equal to (a) 250,000 shares if the Issuer's market capitalization exceeds $500 million for 20 consecutive trading days, (b) an additional 100,000 shares if the Issuer's market capitalization exceeds $1 billion for 20 consecutive trading days, (c) an additional 100,000 shares if the Issuer's market capitalization exceeds $2 billion for 20 consecutive trading days and (d) an additional 100,000 shares if the Issuer's market capitalization exceeds $3 billion for 20 consecutive trading days, in each case prior to January 1, 2030, subject to the Reporting Person's continuous service through the vesting date and the terms and conditions of the underlying award agreement. If the Reporting Person is terminated without cause, then subject to the terms and conditions of the underlying award agreement, such shares may vest if the market capitalization milestones described herein are achieved in the subsequent 12 months.
FAQ
What insider ownership did GRRR CEO Chandan Jayesh report on this Form 3?
Chandan Jayesh reported direct ownership of 1,095,471 ordinary shares of Gorilla Technology Group Inc. He also disclosed significant restricted stock unit positions that may convert into additional ordinary shares under specific time-based and performance-based vesting conditions.
How many time-based RSUs does the GRRR CEO hold and when do they vest?
He holds 119,178 restricted stock units granted under the 2023 Omnibus Incentive Plan. These RSUs vest on July 13, 2026, provided he remains in continuous service and satisfies the terms and conditions of the underlying award agreement.
What are the performance-based RSU milestones for GRRR CEO Chandan Jayesh?
He holds 550,000 performance-based RSUs that vest in tranches if market capitalization exceeds $500 million, $1 billion, $2 billion, and $3 billion for 20 consecutive trading days before January 1, 2030, subject to service and award terms.
What does each RSU reported by GRRR’s CEO represent?
Each restricted stock unit reported represents the right to receive one ordinary share of Gorilla Technology Group Inc. Delivery of these shares depends on meeting the specified vesting conditions in the company’s 2023 Omnibus Incentive Plan and related award agreements.
Under what conditions can GRRR performance-based RSUs vest after termination without cause?
If Chandan Jayesh is terminated without cause, the award agreement may allow the performance-based RSUs to vest if the market capitalization milestones are achieved in the 12 months following termination, subject to the detailed terms of that underlying award agreement.
What time period applies to GRRR’s market capitalization tests for the CEO RSUs?
The market capitalization milestones must be achieved for 20 consecutive trading days in each case before January 1, 2030. These conditions govern vesting of the performance-based RSUs disclosed for Gorilla Technology Group Inc.’s CEO.
AI-generated analysis. How Rhea-AI works. Not financial advice.
