Form 4: Clean Energy Fuels Corp. Executive Awarded Stock Options and Restricted Stock Units

Barclay Corbus, SVP of Strategic Development at Clean Energy Fuels Corp., received stock options and restricted stock units (RSUs) on March 4, 2024.

Summary

• Barclay Corbus, SVP of Strategic Development at Clean Energy Fuels Corp., was granted 400,000 restricted stock units (RSUs) and options to purchase 150,000 shares of common stock on March 4, 2024.
• The RSUs represent a contingent right to receive one share of the Issuer's common stock upon vesting and settlement.
• The RSUs and options vest in three tranches: 34% on the first anniversary of the grant date, and 33% on each of the second and third anniversaries.
• The exercise price for the stock options is $2.85.
• Following the transaction, Corbus directly owns 1,015,208 shares of Clean Energy Fuels Corp. common stock and options to purchase 150,000 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of stock options and RSUs is a standard practice and generally viewed favorably as it aligns management's interests with shareholders.

Positives

• The grant of RSUs and stock options aligns the executive's interests with those of the shareholders, incentivizing performance and long-term value creation.

Industry Context

This type of equity compensation is common in the industry to attract and retain key executives.

Comparison to Industry Standards

• Equity grants are a standard component of executive compensation packages in the energy sector, often benchmarked against peer companies of similar size and market capitalization.
• Companies like Westport Fuel Systems and Quantum Fuel Systems also utilize stock options and RSUs to incentivize their leadership teams.

Stakeholder Impact

• Shareholders may view the equity grants positively as they incentivize management to increase shareholder value.
• Employees may see this as a positive sign of the company investing in its leadership.

Key Dates