374Water (SCWO) Form 4/A: Meyers RSU Vesting and Outstanding Awards
Rhea-AI Filing Summary
Brad Ian Meyers, Chief Operating Officer of 374Water Inc. (SCWO), amended his Form 4 to report the treatment of restricted stock units (RSUs) granted under his employment agreement. The grant originally included a Time RSU for 115,500 shares and a Performance RSU for 115,500 shares. On 05/16/2025, 28,875 shares from the Time RSU vested and were reported as acquired at $0; the remaining Time RSU vests in equal monthly installments over the next 36 months subject to continued employment. As of 09/02/2025, 36,093 shares from the Time RSU were vested and 79,407 remained unvested. The Performance RSU vests only upon achievement of specified issuer milestones.
Positive
- Clear disclosure of RSU composition: Time RSU and Performance RSU each for 115,500 shares
- Partial vesting occurred: 28,875 Time RSU shares vested on 05/16/2025 and were acquired at $0
- Ongoing retention mechanism: remaining Time RSU vests monthly over 36 months, supporting executive continuity
- Performance RSU tied to milestones, aligning pay with company objectives
Negative
- None.
Insights
TL;DR: Executive granted time- and performance-based RSUs, with a partial time-based vesting event already executed.
The amendment clarifies that the Time RSU portion was converted to actual common shares as vesting occurred and should now be reflected as direct beneficial ownership. The remaining Time RSUs continue to vest monthly over 36 months, reinforcing retention incentives. The Performance RSUs remain contingent on achievement of issuer-defined milestones, preserving pay-for-performance alignment. This filing is administrative in nature but important for cap table accuracy and executive incentive disclosure.
TL;DR: Amendment corrects reporting location of vested time-based RSUs and details outstanding unvested awards.
The Form 4/A moves the Time RSU from derivative reporting to non-derivative reporting after vesting and quantifies vested versus unvested amounts. It documents acquisition at $0 consistent with compensatory grants and notes that Performance RSUs remain subject to milestone conditions under the employment agreement. For disclosure and Section 16 compliance, this amendment clarifies the reporting of ownership changes and the nature of outstanding awards.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 115,500 | $0.00 | -- |
| Grant/Award | Common Stock (restricted stock units) | 115,500 | $0.00 | -- |
Footnotes (1)
- The Restricted Stock Units (the "RSU") reported herein were granted to the Reporting Person May 16, 2024 (the "Effective Date") pursuant to his Employment Agreement (the "Employment Agreement"). The RSU grants consisted of an RSU for 115,500 shares that vest over time (the "Time RSU") and an RSU for 115,500 shares that vest on the achievement of certain milestones (the "Performance RSU"). 28,875 of the shares subject to the Time RSU vested on May 16, 2025, and the remaining 86,625 shares vest in equal increments on the last day of every month thereafter over the following 36 months, subject to the Reporting Person's continued employment with the Issuer on each vesting date. As of September 2, 2025, 36,093 shares subject to the Time RSU were vested, and 79,407 shares are unvested. On May 22, 2024, the Reporting Person filed a Form 4 that reported both the Time RSU and the Performance RSU in Table II. This amendment serves to remove the Time RSU from Table II and report it in Table I. Under the Employment Agreement, the Reporting Person was granted the Performance RSU, that vest pursuant to certain milestones set forth by the Issuer.
