Form 4: Joby Aviation CEO Sells Shares for Tax Obligations

Joby Aviation CEO JoeBen Bevirt reported the acquisition of common stock through RSU vesting and a subsequent sale to cover tax liabilities.

Summary

• JoeBen Bevirt, CEO and Chief Architect of Joby Aviation, reported transactions on January 1 and January 2, 2026.
• On January 1, 2026, Bevirt acquired 12,978 shares of common stock upon the vesting of restricted stock units (RSUs) at a price of $0.
• Also on January 1, 2026, Bevirt acquired an additional 49,801 shares of common stock from the vesting of other RSUs, also at a price of $0.
• On January 2, 2026, Bevirt sold 23,552 shares of common stock at a price of $13.51 per share.
• This sale was explicitly stated to cover tax obligations arising from the RSU vesting.
• Following these transactions, Bevirt's direct beneficial ownership stands at 288,814 shares of common stock.
• Indirect beneficial ownership includes 60,423,778 shares held by The Joby Trust, 32,118,802 shares by the JoeBen Bevirt 2020 Descendants Trust, 189,109 shares by his spouse, and 155,737 shares by The Jennifer Barchas Trust.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to the vesting of a significant number of RSUs, indicating ongoing executive compensation and commitment. The subsequent sale is a routine tax-related transaction and does not reflect negative sentiment towards the company.

Positives

• The vesting of 62,779 Restricted Stock Units (RSUs) indicates continued service and compensation for the CEO, reflecting ongoing commitment to the company.
• The RSU awards were acquired at a price of $0, representing a direct gain for the reporting person upon vesting.

Negatives

• A sale of 23,552 shares of common stock, even for tax purposes, reduces the direct equity stake of the CEO in the company.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• JoeBen Bevirt is the trustee of The Joby Trust, which holds 60,423,778 shares of common stock.
• JoeBen Bevirt is the trustee of the JoeBen Bevirt 2020 Descendants Trust, which holds 32,118,802 shares of common stock.
• Shares of common stock are held of record by the spouse of the Reporting Person (189,109 shares).
• Shares of common stock are held of record by The Jennifer Barchas Trust, where the spouse of the Reporting Person has voting and dispositive power (155,737 shares).

Stakeholder Impact

• Shareholders: The transaction is a routine insider 'sell-to-cover' for tax purposes, which typically has minimal impact on shareholder perception or the company's operational outlook.
• Employees: The vesting of RSUs for the CEO demonstrates the company's ongoing equity compensation practices for its leadership.

Next Steps

• Continued vesting of remaining Restricted Stock Units (RSUs) according to their respective schedules (quarterly anniversaries of January 1, 2024, and January 1, 2022).

Key Dates

Recommendation

The reported transactions are routine insider activities involving the vesting of Restricted Stock Units (RSUs) and a subsequent sale of shares to cover tax obligations. This 'sell-to-cover' is a common practice and does not typically signal a change in the company's fundamentals or the insider's long-term view. Therefore, it provides no strong basis for a 'buy' or 'sell' recommendation, suggesting a 'hold' position based solely on this filing.

Keywords

Joby Aviation, JOBY, Form 4, Insider Trading, RSU, Stock Sale, JoeBen Bevirt, Beneficial Ownership