Form 4: Clean Energy Fuels Corp. CFO Receives Stock Awards and Performance Rights

Robert M. Vreeland, CFO of Clean Energy Fuels Corp., was granted restricted stock units and performance-based stock units on February 27, 2025.

Summary

• Robert M. Vreeland, the Chief Financial Officer of Clean Energy Fuels Corp., received an award of 200,000 restricted stock units (RSUs) on February 27, 2025.
• These RSUs will vest in three installments: 34% on the first anniversary of the grant date, and 33% on each of the second and third anniversaries.
• Vreeland also received 50,000 performance-based stock units, which will vest upon the company's common stock achieving specific price targets within a three-year performance period.
• The price targets range from 1.25 to 2.0 times the company's share price on the grant date.
• If the minimum price target is not met within the three-year period, none of the performance stock units will vest.
• Following these transactions, Vreeland directly owns 658,800 shares of Clean Energy Fuels Corp. common stock and 50,000 performance rights.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The stock awards align management interests with shareholders, which is generally viewed favorably. However, there are no immediate financial gains, and the value is contingent on future performance.

Positives

• The grant of RSUs and performance-based stock units aligns the CFO's interests with the long-term success of the company.
• The vesting schedule of the RSUs encourages continued service and commitment from the CFO.
• The performance-based stock units incentivize the CFO to drive stock price appreciation.

Risks

• The performance-based stock units may not vest if the company's stock price does not reach the specified targets within the three-year performance period.
• The value of the RSUs is subject to the volatility of the company's stock price.

Future Outlook

The vesting of the RSUs is contingent upon continued service, and the vesting of the performance-based stock units is contingent upon achieving specific stock price targets within a three-year period.

Industry Context

Stock awards and performance-based compensation are common practices in the industry to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Stock awards are a common form of executive compensation across various industries, including the energy sector.
• Companies like Shell, BP, and ExxonMobil also utilize stock-based compensation to align executive incentives with shareholder value.
• The specific vesting schedules and performance metrics vary depending on the company's goals and industry practices.

Stakeholder Impact

• Shareholders may view the stock awards positively as they align management's interests with the company's long-term success.
• Employees may be motivated by the potential for the company's stock price to increase, leading to the vesting of performance-based stock units.

Key Dates