Form 4: Canoo Inc. Director Debra von Storch Receives Annual Grant of Restricted Stock Units

Debra von Storch, a director at Canoo Inc., received an annual grant of 92,765 Restricted Stock Units (RSUs) on July 15, 2024, which will vest on the earlier of July 15, 2025, or the company's 2025 annual meeting of stockholders.

Summary

• On July 15, 2024, Debra von Storch, a director of Canoo Inc., was granted 92,765 Restricted Stock Units (RSUs) as part of the company's 2020 Equity Incentive Plan.
• Each RSU represents the right to receive one share of Canoo Inc.'s common stock upon vesting.
• The RSUs will vest in full on the earlier of July 15, 2025, or the Issuer's 2025 annual meeting of stockholders, contingent upon Ms. von Storch's continuous service through the vesting date.
• Following the transaction, Ms. von Storch beneficially owns 110,996 shares of Canoo Inc. common stock.
• The reported securities have been adjusted to reflect a 1-for-23 reverse stock split that Canoo Inc. effected on March 8, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, indicating stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing her to work towards the company's success.
• The vesting schedule encourages continued service and commitment from the director.

Future Outlook

The RSUs will vest on the earlier of July 15, 2025, or the Issuer's 2025 annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

Industry Context

This is a standard practice for compensating directors in publicly traded companies, aligning their interests with those of shareholders through equity-based compensation.

Comparison to Industry Standards

• Granting RSUs to directors is a common practice among publicly traded companies to align their interests with shareholders.
• The vesting schedule of one year is fairly standard, encouraging continued service.
• The size of the grant would need to be compared to grants given to directors at comparable companies in the electric vehicle industry to determine if it is above or below average.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term success.
• The director is incentivized to contribute to the company's growth and profitability to increase the value of her stock.

Key Dates

Keywords

RSU, Restricted Stock Units, Director, Debra von Storch, Canoo Inc., GOEV, Equity Incentive Plan, Beneficial Ownership, Reverse Stock Split