4/A: Clean Energy Fuels Corp. Director Corrects Stock Option Exercise Price in Amended SEC Filing
SEC Filing Amendment
James C. Miller III, a director at Clean Energy Fuels Corp., filed an amended SEC Form 4/A to correct an administrative error in the reported exercise price of stock options granted on May 16, 2024.
Summary
- James C. Miller III, a director of Clean Energy Fuels Corp., filed an amendment to a previous SEC Form 4 filing.
- The amendment, filed on January 17, 2025, corrects the exercise price of stock options granted on May 16, 2024.
- The original filing, submitted on May 20, 2024, incorrectly reported the exercise price due to an administrative error.
- The corrected filing shows an exercise price of $2.62 for 32,608 stock options, which vest fully on May 16, 2025, and expire on May 15, 2034.
Sentiment
Score: 7
Explanation: The document is a routine correction of an administrative error in an SEC filing. It doesn't indicate any significant positive or negative developments for the company, but accuracy in financial reporting is always viewed favorably.
Negatives
- The original SEC filing contained an error in the reported exercise price of the stock options.
Industry Context
This filing is a routine disclosure related to executive compensation and stock options, common in publicly traded companies. It doesn't necessarily indicate a trend in the clean energy industry but rather reflects standard corporate governance practices.
Comparison to Industry Standards
- Stock option grants are a common form of executive compensation in publicly traded companies, including those in the clean energy sector.
- The vesting schedule of one year is fairly standard.
- The exercise price being at or near the market price at the time of the grant is also typical.
- Comparing the size of the grant to similar companies would require more data on Clean Energy Fuels Corp.'s overall compensation strategy and market capitalization.
Stakeholder Impact
- The correction of the exercise price ensures transparency for shareholders regarding executive compensation.
- Accurate financial reporting is important for maintaining investor confidence.
Key Dates
| Date | Description |
|---|---|
| 05/16/2024 | Date of the original stock option grant. |
| 05/20/2024 | Date of the original Form 4 filing with the incorrect exercise price. |
| 05/16/2025 | Date when 100% of the stock options vest. |
| 01/17/2025 | Date of the amended Form 4/A filing to correct the exercise price. |
| 05/15/2034 | Expiration date of the stock options. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.