Form 4: Gevo CFO Sells Shares to Cover Tax Obligations

Gevo's Chief Financial Officer, L Lynn Smull, sold shares of common stock to cover tax withholding obligations related to the vesting of a restricted stock award.

Summary

• On August 22, 2024, L Lynn Smull, the Chief Financial Officer of Gevo, Inc., sold 69,738 shares of Gevo's common stock.
• The sale was executed at a weighted average price of $0.7574 per share, with individual transactions ranging from $0.71 to $0.82 per share.
• The sale was conducted to cover tax withholding obligations upon the vesting of a restricted stock award, and was effected pursuant to a 10b5-1 trading plan adopted on March 19, 2024.
• Following the transaction, Smull directly owns 1,169,602 shares of Gevo's common stock and indirectly owns 24,115.52 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an executive's stock sale for tax purposes. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales of shares to cover tax obligations are a common practice among corporate executives when restricted stock or options vest. The use of a 10b5-1 trading plan is a standard method to avoid accusations of insider trading, as the sales are pre-scheduled.

Stakeholder Impact

• The sale of shares by the CFO could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale and the existence of a 10b5-1 trading plan.

Key Dates