REE Automotive (REE) officer details RSU grants and share holdings
Rhea-AI Filing Summary
REE Automotive Ltd. filed an initial statement of beneficial ownership for officer Avital Futterman, detailing existing equity interests rather than new market trades. Futterman directly holds 72,373 Class A Ordinary Shares, along with several grants of Restricted Stock Units (RSUs) that convert into Class A shares at an exercise price of $0.0000 per share.
The RSUs are held in trust by a trustee approved by the Israeli Tax Authority on Futterman’s behalf under the company’s 2021 Share Incentive Plan. One RSU grant vests 33.33% on the first anniversary of the May 22, 2023 grant date and 8.33% quarterly over the following two years, while other grants vest 8.33% quarterly over three years from their respective grant dates in September 2024 and February 2026. The February 2026 grant provides for accelerated vesting upon a change of control, including a Merger/Sale event as defined in the plan.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Class A Ordinary Shares | -- | -- | -- |
Footnotes (1)
- Restricted Share Units ("RSUs") granted under REE Automotive Ltd.'s (the "Company") 2021 Share Incentive Plan ("Plan") and underlying Class A Ordinary Shares are deposited with a trustee approved by the Israeli Tax Authority for this purpose, who holds such securities in trust on behalf of the Reporting Person. Each RSU represents the right to receive, following vesting, one share of the Company's Class A Ordinary Shares. Unless earlier forfeited under the terms of the RSU, such RSUs will vest as follows: (a) 33.33% of the RSUs shall vest on the first year anniversary of the date of grant (which date of grant was May 22, 2023), and (b) subsequent to such first year anniversary, 8.33% of the RSUs shall vest on a quarterly basis over the course of a two year period, in accordance with the applicable terms of the RSU. Unless earlier forfeited under the terms of the RSU, 8.33% of the RSUs shall vest on a quarterly basis over the course of a three-year period from the date of grant (which date of grant was September 15, 2024), in accordance with the applicable terms of the RSU. Unless earlier forfeited under the terms of the RSU, 8.33% of the RSUs shall vest on a quarterly basis over the course of a three-year period from the date of grant (which date of grant was February 18, 2026), in accordance with the applicable terms of the RSU. The vesting of such RSUs shall be accelerated upon a change of control of the Company, which includes a "Merger/Sale" event, as such term is defined in the Plan.
