Form 4: QuantumScape Chief Technology Officer Sells Shares to Cover Tax Obligations

QuantumScape's Chief Technology Officer, Timothy Holme, sold 28,162 shares of Class A Common Stock to cover tax obligations related to the vesting of restricted stock units.

Summary

• Timothy Holme, the Chief Technology Officer of QuantumScape, sold 28,162 shares of Class A Common Stock on November 18, 2024.
• The sale was executed to cover tax obligations arising from the vesting of restricted stock units (RSUs).
• The shares were sold at a weighted average price of $4.7509, with individual transactions ranging from $4.66 to $4.82.
• Following the transaction, Holme beneficially owns 1,140,334 shares, including 913,409 shares represented by RSUs and performance restricted stock units (PSUs).
• RSUs vest quarterly, and PSUs vest upon achievement of performance milestones, both subject to continued service.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment about the company's performance or future prospects.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the technology industry.
• Similar transactions are regularly reported by executives at companies like Tesla, Lucid, and other publicly traded technology firms.
• The sale of shares by an executive is not unusual and is often a planned part of their compensation strategy.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.

Key Dates

Keywords

QuantumScape, insider trading, stock sale, Form 4, restricted stock units, tax obligations, Timothy Holme, Class A Common Stock