SCHEDULE: Gogoro Inc. CEO Horace Luke Reports Beneficial Ownership Below 5%

Sentiment:

Beneficial Ownership Update 10 July 2025 7:47 AM

Gogoro Inc. CEO Horace Luke has filed an amended Schedule 13D, indicating his aggregate beneficial ownership of the company's ordinary shares has fallen below the 5% threshold as of July 10, 2025.

Worse than expectedHorace Luke, the CEO, and his domestic partner's combined beneficial ownership of Gogoro Inc. ordinary shares has fallen below the 5% threshold to 4.96%.While no transactions were reported in the past 60 days, the event triggering this filing is the cessation of beneficial ownership above 5%, which implies a reduction in their overall stake from a previous higher level.

Summary

Horace Luke, the reporting person, has filed Amendment No. 3 to his Schedule 13D for Gogoro Inc.
As of July 10, 2025, Mr. Luke's aggregate beneficial ownership of Gogoro Inc. ordinary shares is 14,641,830 shares, representing 4.96% of the outstanding shares.
This percentage is calculated based on 295,353,291 ordinary shares outstanding as of February 28, 2025, as reported in Gogoro's 2024 Form 20-F.
The filing indicates that Mr. Luke ceased to be a beneficial owner of more than five percent of the Ordinary Shares as of July 10, 2025.
His beneficial ownership includes shares held directly by him (72,447 shares), by Innovative Creations LLC (7,877,601 shares, wholly owned by Mr. Luke), and by entities wholly owned by his domestic partner, Ms. Nine (Joy Billion Holdings Limited with 3,434,643 shares and Polymath Limited with 3,257,139 shares).

Sentiment

Score: 4

Explanation: The filing indicates that the CEO's beneficial ownership, including shares held by his domestic partner, has dropped below the 5% threshold. While no recent transactions are detailed, the cessation of a significant insider stake can be viewed as a negative signal by investors, potentially indicating reduced conviction or future liquidity needs, although the document itself does not provide reasons for the change.

Negatives

The CEO and his domestic partner's combined beneficial ownership has fallen below the 5% threshold, which could be interpreted by some investors as a reduction in insider conviction or a signal of potential future sales, though no transactions are detailed for the past 60 days.

Future Outlook

No forward-looking statements or guidance provided.

Industry Context

This filing is specific to insider ownership and does not provide broader industry context or trends.

Related Party Transactions

The beneficial ownership reported includes shares held by entities wholly owned by Ms. Nine, who is the domestic partner of Mr. Luke.

Stakeholder Impact

Shareholders: May interpret the reduction in beneficial ownership by the CEO and related parties below 5% as a negative signal, potentially impacting investor confidence and share price.

Key Dates

Date	Description
February 13, 2023	Initial Schedule 13D filed.
January 10, 2024	Amendment No. 1 to Schedule 13D filed.
June 11, 2024	Amendment No. 2 to Schedule 13D filed.
February 28, 2025	Date as of which 295,353,291 ordinary shares of the Issuer were issued and outstanding, used for percentage calculation.
March 31, 2025	Date 2024 Form 20-F was filed by Gogoro Inc.
July 10, 2025	Date of event which requires filing of this statement; Reporting Person ceased to be beneficial owner of more than five percent of Ordinary Shares.

Recommendation

hold

Keywords

Gogoro Inc., Horace Luke, Schedule 13D, beneficial ownership, insider ownership, equity stake, shareholding, SEC filing, G9491K105

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