Form 4: QuantumScape CEO Sivaram Srinivasan Sells Shares to Cover Tax Obligations

QuantumScape's CEO, Srinivasan Sivaram, sold shares of Class A Common Stock to cover tax obligations related to the release of restricted stock units.

Summary

• On February 23, 2024, Srinivasan Sivaram, the CEO of QuantumScape Corp, sold 2,412 shares of Class A Common Stock at a weighted average price of $6.0822.
• Following this transaction, Mr. Sivaram beneficially owned 3,385,618 shares.
• On February 26, 2024, Mr. Sivaram sold 2,242 shares of Class A Common Stock at a weighted average price of $6.1601.
• Following this transaction, Mr. Sivaram beneficially owned 3,383,376 shares, including 3,329,454 shares represented by RSUs and PSUs.
• The sales were executed to cover tax obligations arising from the release of restricted stock units (RSUs).

Sentiment

Score: 5

Explanation: The document describes routine transactions (sales to cover tax obligations) and doesn't contain information that would significantly shift investor sentiment positively or negatively.

Industry Context

Sales of shares to cover tax obligations are a routine part of executive compensation, particularly when dealing with equity-based compensation like RSUs and PSUs.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the stated reason (tax obligations).

Key Dates