Form 4: Aeva Technologies Director Hrach Simonian Reports RSU Grant and Indirect Holdings

Aeva Technologies, Inc. Director Hrach Simonian reported the acquisition of 5,968 restricted stock units (RSUs) and disclosed his indirect beneficial ownership of over 3.5 million shares through Canaan XI, L.P.

Summary

• Hrach Simonian, a Director of Aeva Technologies, Inc. (AEVA), reported a transaction on June 20, 2025.
• He acquired 5,968 shares of Common Stock at a price of 0, which are Restricted Stock Units (RSUs).
• These RSUs were awarded under the Issuer's Non-Employee Director Compensation Plan and will vest on the first anniversary of the grant date or upon a change of control, if earlier.
• Following this transaction, Mr. Simonian directly beneficially owns 111,291 shares of Common Stock.
• He also indirectly beneficially owns 3,597,039 shares of Common Stock through Canaan XI, L.P., where he is a manager and member of the general partner, Canaan Partners XI LLC.
• Mr. Simonian disclaims Section 16 beneficial ownership in the securities held by the Canaan Entities, except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The filing reports a routine RSU grant to a director, which is a positive sign of aligning management interests with shareholders. There are no negative financial implications or red flags, making it a neutral to slightly positive event.

Positives

• Director Hrach Simonian received an RSU grant of 5,968 shares, aligning his interests with shareholders through equity compensation.
• The RSU grant is part of the Issuer's Non-Employee Director Compensation Plan, indicating a structured approach to director remuneration.

Risks

• The vesting of the 5,968 RSUs is subject to a one-year anniversary or a change of control, meaning the shares are not immediately liquid.
• The indirect ownership through Canaan XI, L.P. involves a disclaimer of Section 16 beneficial ownership, except for pecuniary interest, which might imply limited direct control over those shares by the reporting person.

Future Outlook

The RSU grant vests on the first anniversary of the grant date or upon a change of control, indicating a future vesting event for these shares.

Industry Context

This Form 4 filing is a routine insider transaction report, common across all publicly traded companies. It reflects standard compensation practices for non-employee directors, where equity grants align director interests with long-term shareholder value.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) at a $0 price is a standard practice for non-employee director compensation across various industries, including technology and automotive lidar sectors where Aeva Technologies operates.
• The vesting schedule (one year or change of control) is also a common mechanism to retain directors and incentivize long-term commitment.
• The disclosure of indirect ownership through investment funds (like Canaan XI, L.P.) is typical for directors who also hold positions in venture capital or private equity firms that have invested in the company.

Corporate Governance

Related Party Transactions

• The indirect beneficial ownership of 3,597,039 shares by Canaan XI, L.P., where Hrach Simonian is a manager and member of the general partner, represents a related party holding.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's interests with shareholders, potentially fostering long-term value creation. The indirect holdings through Canaan XI, L.P. indicate significant institutional backing.

Next Steps

• The 5,968 RSUs granted to Hrach Simonian are expected to vest on the first anniversary of the grant date (June 20, 2026) or upon an earlier change of control.

Key Dates

Recommendation

Keywords

Aeva Technologies, AEVA, Hrach Simonian, Form 4, SEC filing, insider transaction, RSU grant, restricted stock units, director compensation, beneficial ownership, Canaan XI, L.P.