Form 4: ESS Tech Executive Sells Shares for Tax Withholding

Kelly F. Goodman, Chief Strategy Officer and General Counsel of ESS Tech, Inc., reported the sale of company common stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• Kelly F. Goodman, Chief Strategy Officer and General Counsel of ESS Tech, Inc., reported transactions involving the sale of ESS Tech common stock.
• On May 21, 2026, 2,482 shares were sold at a weighted average price of $0.9181 to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• On May 22, 2026, an additional 2,751 shares were sold at a weighted average price of $0.9346, also to cover tax withholding obligations related to RSUs.
• Following these transactions, Goodman beneficially owns 210,620 shares of ESS Tech common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. While insider sales can be a negative signal, these transactions are explicitly for tax withholding related to RSU vesting, a common and often unavoidable event for executives.

Negatives

• The executive sold company stock, which could be perceived negatively by the market, although the sales were for tax withholding purposes.
• The sales occurred at prices below $1.00 per share, indicating a low stock price at the time of the transactions.

Risks

• The need to sell shares to cover tax obligations suggests that the executive may not have sufficient liquid assets to cover these liabilities without divesting company stock.
• The low stock price at which the shares were sold could indicate ongoing market concerns about the company's performance or future prospects.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing, which solely reports on past transactions.

Industry Context

StockSavvy.ai notes that insider sales, even for tax withholding, can sometimes be interpreted by the market as a lack of confidence, especially when the stock price is low. However, Form 4 filings are routine for executives managing RSU vesting and associated tax liabilities.

Stakeholder Impact

• Shareholders: May interpret insider sales negatively, though the stated reason (tax withholding) mitigates this concern. The low sale price might also be a point of discussion.

Key Dates

Keywords

ESS Tech, GWH, Form 4, Insider Trading, Stock Sale, Tax Withholding, Restricted Stock Units, Kelly F. Goodman, Executive Compensation