Form 4: Clean Energy Fuels Corp. Executive Receives Stock Awards

Barclay Corbus, SVP at Clean Energy Fuels Corp., was granted restricted stock units and performance-based stock units.

Summary

• Barclay Corbus, SVP of Strategic Development at Clean Energy Fuels Corp., received an award of 200,000 restricted stock units (RSUs) and 50,000 performance rights on February 27, 2025.
• The RSUs vest in three installments: 34% on the first anniversary of the grant date, and 33% on each of the second and third anniversaries.
• The performance stock units vest upon the company's common stock achieving specified price targets within a three-year period, ranging from 1.25 to 2.0 times the stock 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.
• Corbus also has a power of attorney designating several individuals to act on his behalf for SEC filings related to Clean Energy Fuels Corp.

Sentiment

Score: 7

Explanation: The document is neutral in tone, detailing standard executive compensation practices. The sentiment is slightly positive as it reflects alignment of executive interests with shareholder value through stock-based incentives.

Positives

• The grant of RSUs and performance rights aligns executive compensation with the company's long-term performance and stock price appreciation.
• The vesting schedule of the RSUs encourages continued service and commitment from the executive.
• The performance-based vesting of the performance rights incentivizes the achievement of specific stock price targets, potentially benefiting shareholders.

Risks

• The performance 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 fluctuations in the company's stock price.

Future Outlook

The vesting of the RSUs and performance rights is contingent upon continued service and the achievement of specific stock price targets, respectively.

Industry Context

Stock awards are a common form of executive compensation in publicly traded companies, aligning management's interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a standard practice among publicly traded companies to incentivize executives and align their interests with shareholders.
• Companies like Tesla, Inc. (TSLA) and Amazon.com, Inc. (AMZN) also use stock options and restricted stock units as part of their executive compensation packages.
• The vesting schedules and performance metrics associated with these awards vary depending on the company's specific goals and industry practices.

Stakeholder Impact

• Shareholders may view the stock awards positively as they align executive compensation with company performance.
• Employees may be motivated by the potential for future stock price appreciation.
• The awards do not have a direct impact on customers, suppliers, or creditors.

Key Dates