Form 4: Gevo CEO Patrick Gruber Sells Shares to Cover Tax Obligations

Gevo, Inc. CEO Patrick Gruber sold shares of common stock on August 22, 2024, to cover tax withholding obligations related to the vesting of a restricted stock award.

Summary

• On August 22, 2024, Patrick R. Gruber, CEO of Gevo, Inc., sold 164,428 shares of common stock.
• The sale was executed to cover tax withholding obligations upon the vesting of a restricted stock award.
• The shares were sold at a weighted average price of $0.7574, with individual transactions ranging from $0.71 to $0.82 per share.
• Following the transaction, Gruber directly owns 3,757,976 shares of Gevo common stock.
• Gruber also indirectly owns 26,136.86 shares through a 401(k) plan.
• The sale was conducted under a pre-arranged 10b5-1 trading plan adopted on March 18, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sale is related to tax obligations, which is a neutral event.

Industry Context

Insider sales are a common occurrence, especially to cover tax obligations related to equity compensation. The use of a 10b5-1 trading plan suggests the sale was pre-planned and not based on current market information.

Stakeholder Impact

• The sale of shares by the CEO could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about insider information.

Key Dates