JOBY insider files sales, retains 60.27M shares after RSU vesting
Rhea-AI Filing Summary
JoeBen Bevirt, Joby Aviation (JOBY) CEO and director, reported multiple transactions on 10/01/2025 and 10/02/2025 including sales under an approved 10b5-1 plan and share transfers related to RSU vesting. The filing shows a weighted-average sale price of $16.29 for aggregated sales of 253,600 and 172,400 shares (reported separately) and an additional sale of 32,284 shares at $16.78 to cover taxes on RSU settlement. After these transactions, the reporting person beneficially owns 60,273,162 shares indirectly through the Joby Trust and holds various other indirect interests via family and grantor trusts. The report also discloses the receipt and vesting of RSUs totaling 62,778 shares that converted to common stock.
Positive
- Sales executed under an approved 10b5-1 trading plan (adopted March 31, 2025) providing structured timing
- Substantial retained beneficial ownership of 60,273,162 shares held indirectly via the Joby Trust
- RSU vesting and tax-cover sales are clearly disclosed, showing routine compensation settlement
Negative
- Insider reported significant open-market sales: aggregated reported disposals of at least 425, and 284,000 (combined line items of 253,600 and 172,400) shares on 10/01/2025
- Weighted-average sale prices reported between $15.86 and $16.79, with a reported average of $16.29, indicating realized liquidity from holdings
Insights
Insider sales executed under a pre-approved plan; large retained ownership remains.
The filing confirms that the bulk of sales on 10/01/2025 were executed pursuant to an approved 10b5-1 plan adopted March 31, 2025, which provides an affirmative defense for scheduled sales. This procedural detail is material for governance assessment because it indicates the trades were pre-planned rather than ad hoc.
The Reporting Person still beneficially owns 60,273,162 shares indirectly via the Joby Trust, demonstrating continued substantial economic exposure despite the disposals.
RSU vesting and tax-cover sales are documented; exact RSU amounts disclosed.
The Form 4 shows RSU vesting on 10/01/2025 with 12,977 and 49,801 RSUs reported as vested and settled, converting into common stock. A sale of 32,284 shares on 10/02/2025 is explicitly described as covering taxes due upon RSU settlement, which is a routine compensation-related transfer.
The filing reports weighted-average sale price ranges ($15.86–$16.79), with the reported price reflecting the weighted average; full trade-level details are available upon request to the SEC staff.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 32,284 | $16.78 | $542K |
| Exercise | Restricted Stock Units (RSUs) | 12,977 | $0.00 | -- |
| Exercise | Restricted Stock Units (RSUs) | 49,801 | $0.00 | -- |
| Sale | Common Stock | 253,600 | $16.29 | $4.13M |
| Sale | Common Stock | 172,400 | $16.29 | $2.81M |
| Exercise | Common Stock | 12,977 | $0.00 | -- |
| Exercise | Common Stock | 49,801 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Sale made pursuant to the Reporting Person's approved 10b5-1 trading plan adopted on March 31, 2025. This transaction was executed in multiple trades at prices ranging from $15.86 to $16.79. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The shares of common stock are held of record by The Joby Trust. The Reporting Person is the trustee of the Joby Trust and may be deemed to be the beneficial owner of such shares. This transaction was executed in multiple trades at prices ranging from $15.86 to $16.78. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. Represents the aggregate number of shares sold by the Reporting Person to cover taxes due upon the release and settlement of the RSUs, as required by the terms of the RSU award. The shares of common stock are held of record by The Jennifer Barchas Trust (the "Barchas Trust"). The spouse of the Reporting Person has voting and dispositive power of the shares held by The Barchas Trust therefore may be deemed to be the beneficial owner of such shares to the extent of her pecuniary interest. The shares of common stock are held of record by the JoeBen Bevirt 2020 Descendants Trust, dated December 26, 2020 (the "Descendants Trust"). The Reporting Person is the trustee of the Decendants Trust and may be deemed to be the beneficial owner of such shares. The shares of common stock are held of record by the spouse of the Reporting Person. The shares of common stock are held of record by the JoeBen Bevirt 2022 GRAT Trust (the "2022 GRAT Trust"). The Reporting Person has voting and dispositive power of the shares held by the 2022 GRAT Trust therefore may be deemed to be the beneficial owner of such shares to the extent of his pecuniary interest. Represents an award of restricted stock units ("RSUs") that vest in 16 equal installments on the quarterly anniversary of January 1, 2024, subject to the Reporting Person's continued service through the applicable vesting date. Each RSU represents the contingent right to receive one share of Common Stock upon vesting. Represents an award of restricted stock units ("RSUs") that vests with respect to 10% of the total number of RSUs on each of the first four quarterly anniversaries of January 1, 2022 and as to 5% of the total number of RSUs on each quarterly anniversary thereafter, subject to the Reporting Person's continued service through the applicable vesting date. Each RSU represents the contingent right to receive one share of Common Stock upon vesting.
FAQ
What did JoeBen Bevirt (JOBY) report on Form 4?
Were the sales part of a pre-arranged trading plan for JOBY insider trades?
Did the Form 4 disclose RSU activity for JoeBen Bevirt (JOBY)?
