Form 4: Aeva Technologies CFO Saurabh Sinha Reports Stock Transactions
SEC Form 4 Filing
Chief Financial Officer Saurabh Sinha of Aeva Technologies reports acquisition and disposal of common stock and restricted stock units.
Summary
- Saurabh Sinha, CFO of Aeva Technologies, filed a Form 4 detailing changes in beneficial ownership.
- On March 12, 2024, Sinha acquired 21,602 shares of common stock through the vesting of restricted stock units.
- Also on March 12, 2024, 11,396 shares were withheld by the issuer to cover income tax obligations related to the vesting of these restricted stock units at a price of $1.1.
- Following these transactions, Sinha directly owns 1,461,923 shares of Aeva Technologies common stock.
- He also owns 21,602 derivative securities in the form of restricted stock units.
Sentiment
Score: 6
Explanation: The document is neutral, simply reporting transactions. The vesting of RSUs is generally a positive sign, but the tax withholding is a neutral event.
Positives
- The vesting of restricted stock units indicates that performance milestones have been met.
Negatives
- The withholding of shares to cover tax obligations reduces Sinha's net gain from the vesting of restricted stock units.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| 2020-11-02 | Date of the Business Combination Agreement among InterPrivate Acquisition Corp., WLLY Merger Sub Corp., and Aeva, Inc. |
| 2021-03-12 | Date the restricted stock units were granted. |
| 2022-03-12 | Date when 25% of the underlying shares of the restricted stock units vested. |
| 2024-03-12 | Date of the reported transactions: acquisition of shares via vesting of restricted stock units and withholding of shares for tax obligations. |
| 2024-03-14 | Date of signature on the Form 4 filing. |
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