[Form 4] Joby Aviation, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael N. Thompson Jr., identified as a director of Joby Aviation, Inc. (JOBY), reported a transaction dated 08/11/2025 in which he net exercised private placement warrants. The filing shows 1,730,000 private placement warrants were net exercised at an exercise price indicated as $11.50, and that 1,110,770 shares were withheld in connection with a cashless exercise to pay the aggregate exercise price.

The tables list underlying warrants exercisable as of 09/21/2021 with an expiration of 08/10/2026 and show beneficial ownership amounts following the transactions as 2,663,888 (direct) and 1,553,118 (direct) on the reported lines. The form is limited to the insider transaction details and related withholding information.

Positive

• Net exercise of 1,730,000 private placement warrants is clearly disclosed
• Exercise price documented at $11.50 and warrant expiration date provided (08/10/2026)

Negative

• 1,110,770 shares were withheld in the cashless exercise to satisfy the aggregate exercise price

Insights

Financial Analyst

TL;DR: Director net exercised 1.73M warrants; transaction appears routine and is disclosed without additional company financial context.

The filing documents a non-cash exercise of 1,730,000 private placement warrants by a director, with 1,110,770 shares withheld to satisfy the exercise consideration. The exercise price is shown as $11.50, and the warrants expire on 08/10/2026. This is a standard insider liquidity/option conversion event and, standing alone, provides limited forward-looking information about Joby’s operations or capital structure beyond the immediate share issuance and withholding details.

Corporate Governance Expert

TL;DR: Proper Form 4 disclosure of a director's warrant exercise and share withholding; disclosure is routine and compliant in form.

The report names the reporting person as a director and discloses the net exercise mechanics explicitly, including the number of warrants exercised and shares withheld under a cashless exercise. The filing lists post-transaction beneficial ownership figures on the reported lines. From a governance and disclosure perspective, the form provides the required transparency on insider activity, without indicating any governance irregularities or additional context such as trading plans or voting agreements.

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
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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^*

Thompson Michael N. Jr.

(Last) (First) (Middle)

C/O JOBY AVIATION, INC

333 ENCINAL STREET

(Street)

SANTA CRUZ CA 95060

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Joby Aviation, Inc. [ JOBY ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

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	08/11/2025		X(1)		1,730,000	A	$11.5	2,663,888	D
Common Stock	08/11/2025		J(2)		1,110,770	D	$17.91	1,553,118	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
Private Placement Warrants	$11.5	08/11/2025		X(1)			1,730,000	09/21/2021	08/10/2026	Common Stock	1,730,000	$0	0	D

Explanation of Responses:

1. On August 11, 2025, the Reporting Person net exercised 1,730,000 private placement warrants.

2. Represents shares withheld in connection with the cashless exercise of warrants to pay the aggregate exercise price.

Remarks:

	/s/ Sarah Slayen, Attorney-in-Fact for Michael Thompson	08/11/2025
	** 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

Who filed the Form 4 for JOBY?

The filing was made on behalf of Michael N. Thompson Jr., identified as a director of Joby Aviation.

What insider transaction did the JOBY Form 4 report?

The report documents a net exercise of 1,730,000 private placement warrants by the reporting person on 08/11/2025.

How many shares were withheld in the cashless exercise on JOBY Form 4?

The filing states that 1,110,770 shares were withheld to pay the aggregate exercise price in the cashless exercise.

What exercise price and warrant expiry are shown in the JOBY filing?

The private placement warrants list an exercise price of $11.50 and an expiration date of 08/10/2026 in the form.

What beneficial ownership amounts are shown after the reported JOBY transactions?

The tables show post-transaction beneficial ownership figures of 2,663,888 (direct) and 1,553,118 (direct) on the reported lines.