Form 4: ESS Tech Director Raffi Garabedian Acquires and Disposes of Common Stock and RSUs

Director Raffi Garabedian reports acquisition and disposal of ESS Tech, Inc. common stock and restricted stock units (RSUs) on May 17, 2024.

Summary

• On May 17, 2024, Raffi Garabedian, a director of ESS Tech, Inc., reported transactions involving the company's common stock and restricted stock units (RSUs).
• Garabedian acquired 202,702 shares of common stock at $0, represented by RSUs vesting on the earlier of May 17, 2025, or the day prior to the next annual meeting of stockholders.
• He also disposed of shares, resulting in a total beneficial ownership of 392,429 shares, including RSUs representing a contingent right to receive one share of the Issuer's Common Stock.
• The settlement of these RSUs is deferred until a date within 30 days of either his separation of service from the Issuer or a change of control, as defined in the Issuer's plan, provided it qualifies under Section 409A of the Internal Revenue Code.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The settlement of the RSUs is contingent upon future events such as 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.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company insiders, allowing investors to monitor their actions.

Stakeholder Impact

• Shareholders can monitor insider transactions to gain insights into management's perspective on the company's stock.

Key Dates