Form 4: ESS Tech Director Kyle Teamey Reports Stock Transactions

Director Kyle Teamey reports acquisition and disposal of ESS Tech, Inc. common stock and restricted stock units.

Summary

• On May 17, 2024, Kyle Teamey, a director of ESS Tech, Inc., reported transactions involving the company's common stock and restricted stock units (RSUs).
• Teamey acquired 202,702 shares of common stock and disposed of 376,311 shares.
• The acquired shares are represented by RSUs that vest on the earlier of May 17, 2025, or the day prior to the next annual meeting of stockholders.
• The settlement of these RSUs is deferred until a date within 30 days of either Teamey's separation of service or a change of control, as defined in the Issuer's plan and compliant with Section 409A of the Internal Revenue Code.
• Following these transactions, Teamey beneficially owns 376,311 shares of common stock, some of which are RSUs representing a contingent right to receive one share of the Issuer's Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions by a company director. It doesn't inherently indicate positive or negative sentiment.

Future Outlook

The vesting and settlement of the RSUs are contingent upon future events, including the director's continued service and potential change of control events.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, which is common in publicly traded companies. It provides transparency to investors regarding the actions of company leadership.

Stakeholder Impact

• The transactions may provide insights to shareholders regarding the director's view of the company's prospects.
• The vesting of RSUs could potentially dilute existing shareholders' equity.

Key Dates