Form 4: Joby Aviation Executive Awarded Restricted Stock Units

Nicholas Kalayjian, Chief Hardware Officer at Joby Aviation, received an award of 11,273 restricted stock units (RSUs) on February 4, 2025, which will vest based on goal achievement.

Summary

• Nicholas Kalayjian, Chief Hardware Officer of Joby Aviation, was granted 11,273 Restricted Stock Units (RSUs) on February 4, 2025.
• The RSUs will vest in equal installments on January 12, 2026, February 9, 2026, and March 9, 2026, contingent upon the achievement of specified goals and continued service.
• The vesting percentage can range from 0% to 125% based on goal attainment.
• Each RSU represents the right to receive one share of Joby Aviation's common stock upon vesting.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a standard executive compensation practice that aligns management interests with company goals. The performance-based vesting adds a layer of positive incentive.

Positives

• The RSU award aligns the executive's interests with the company's performance goals.
• The vesting schedule incentivizes continued service and achievement of specific targets.

Risks

• The vesting of the RSUs is contingent on the achievement of specified goals, which may not be met.
• The executive's continued service is required for the RSUs to vest, creating a dependency on their continued employment.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

Equity compensation is a common practice in the aviation and technology industries to attract and retain top talent and align their interests with the company's long-term success.

Comparison to Industry Standards

• RSU grants are a standard form of executive compensation in the tech and aerospace industries.
• Companies like Boeing, Airbus, and other eVTOL developers such as Archer Aviation also utilize equity-based compensation to incentivize their executives.
• The vesting schedule and performance-based criteria are typical elements of RSU agreements, designed to align executive performance with shareholder value.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for the executive to drive company performance.
• Employees may see this as a standard compensation practice for executives.

Key Dates

Keywords

Restricted Stock Units, RSUs, Joby Aviation, Executive Compensation, Vesting, Equity, Incentive, Nicholas Kalayjian