Form 4: Joby Aviation CEO JoeBen Bevirt Reports Significant Stock Transactions

Joby Aviation's CEO and Chief Architect, JoeBen Bevirt, reported the sale of over 500,000 shares of common stock and the exercise of restricted stock units in recent transactions.

Summary

• JoeBen Bevirt, CEO and Chief Architect of Joby Aviation, Inc. (JOBY), reported transactions involving the company's common stock.
• On July 1, 2025, 472,000 shares of common stock were sold at a weighted average price of $9.82 per share, executed under a Rule 10b5-1 trading plan adopted on March 31, 2025.
• Also on July 1, 2025, 12,978 shares and 49,801 shares of common stock were acquired through the exercise of Restricted Stock Units (RSUs) at a price of $0.
• On July 2, 2025, an additional 32,285 shares were sold at $9.82 per share to cover tax obligations related to the release and settlement of RSUs.
• Following these transactions, JoeBen Bevirt directly owns 391,493 shares of common stock.
• Indirect beneficial ownership includes 155,737 shares via The Jennifer Barchas Trust, 60,526,762 shares via The Joby Trust, 32,275,793 shares via the JoeBen Bevirt 2020 Descendants Trust, 189,109 shares via spouse, and 83,666 shares via the JoeBen Bevirt 2022 GRAT Trust.
• Remaining derivative holdings include 129,776 and 99,602 Restricted Stock Units, subject to various vesting schedules.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider transactions, including pre-planned sales and tax-related sales, which are generally neutral in sentiment as they are expected events for executives.

Positives

• The exercise of Restricted Stock Units (RSUs) indicates continued service by the CEO and the vesting of long-term incentives.
• The primary stock sale was conducted under a pre-arranged 10b5-1 trading plan, which suggests a systematic approach to liquidity rather than opportunistic selling.

Negatives

• Significant sales of common stock by the CEO, totaling 504,285 shares, could be perceived negatively by some investors, despite being pre-planned or tax-related.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sale of 472,000 shares was made pursuant to the Reporting Person's approved 10b5-1 trading plan adopted on March 31, 2025.
• The sale of 32,285 shares represents the aggregate number of shares sold by the Reporting Person to cover taxes due upon the release and settlement of the RSUs, as required by the terms of the RSU award.

Industry Context

This Form 4 filing is specific to insider transactions at Joby Aviation and does not provide broader industry context or trends.

Corporate Governance

Related Party Transactions

• Indirect beneficial ownership of shares held by The Jennifer Barchas Trust, where the spouse of the Reporting Person has voting and dispositive power.
• Indirect beneficial ownership of shares held by The Joby Trust, where the Reporting Person is the trustee.
• Indirect beneficial ownership of shares held by the JoeBen Bevirt 2020 Descendants Trust, where the Reporting Person is the trustee.
• Indirect beneficial ownership of shares held directly by the spouse of the Reporting Person.
• Indirect beneficial ownership of shares held by the JoeBen Bevirt 2022 GRAT Trust, where the Reporting Person has voting and dispositive power.

Stakeholder Impact

• Shareholders: May observe significant insider sales, which could influence market perception, though the pre-planned nature and tax-related sales mitigate concerns about opportunistic selling.
• Employees: No direct impact mentioned, but executive stock activity can sometimes be a general indicator of management's view of the company's future.

Next Steps

• Continued vesting of JoeBen Bevirt's remaining Restricted Stock Units according to their respective schedules.

Key Dates

Keywords

Joby Aviation, JOBY, Form 4, Insider Trading, Stock Sale, RSU, JoeBen Bevirt, CEO, 10b5-1 plan, Restricted Stock Units