Tax-driven stock sales by QuantumScape (NYSE: QS) CEO disclosed
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
QuantumScape Corp CEO Sivaram Srinivasan reported tax-related share dispositions tied to equity awards. On February 18, he disposed of 246,631 shares of Class A Common Stock at a weighted average price of $7.1445 per share to cover tax obligations on the release of RSUs and PSUs. On February 19, he similarly disposed of 37,175 shares at a weighted average price of $7.0758 per share for the same purpose. After these transactions, he directly owned 3,590,217 shares and indirectly held 360,000 shares through trusts, which also include 2,789,971 shares represented by RSUs and PSUs that vest over time based on service and performance milestones.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Sivaram Srinivasan
Role
CHIEF EXECUTIVE OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 37,175 | $7.0758 | $263K |
| Tax Withholding | Class A Common Stock | 246,631 | $7.1445 | $1.76M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 3,590,217 shares (Direct);
Class A Common Stock — 360,000 shares (Indirect, By: Trusts)
Footnotes (1)
- Represents a sale to cover tax obligations on the release of restricted stock units ("RSUs") and performance restricted stock units ("PSUs"). The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.96 to $7.29, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.99 to $7.21, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4. Includes 2,789,971 shares represented by RSUs and PSUs. Each RSU/PSU represents the Reporting Person's right to receive one share of Class A Common Stock of the Issuer. The RSUs vest each quarter and the PSUs vest upon achievement of certain performance milestones, in both cases subject to the Reporting Person's continued service as of each vesting date. The Reporting Person is a Co-Trustee of the trusts and his family members are beneficiaries of the trusts.
FAQ
What insider transactions did QuantumScape (QS) report for its CEO?
QuantumScape’s CEO Sivaram Srinivasan reported two tax-related share dispositions. He delivered 246,631 shares on February 18 and 37,175 shares on February 19 to cover tax obligations linked to RSU and PSU releases, rather than making discretionary open-market sales.
How are RSUs and PSUs described in the QuantumScape (QS) CEO filing?
Each RSU and PSU represents the right to receive one QuantumScape Class A share. RSUs vest quarterly, while PSUs vest upon achieving specified performance milestones, in both cases conditioned on the CEO’s continued service on each applicable vesting date.
What does indirect ownership by trusts mean in the QuantumScape (QS) filing?
The filing notes 360,000 QuantumScape shares are held indirectly through trusts. The CEO is a co-trustee and his family members are beneficiaries, indicating beneficial ownership is reported through these trust arrangements rather than solely as direct personal holdings.