Form 4: QuantumScape Director Jagdeep Singh Sells Shares to Cover Tax Obligations

Director Jagdeep Singh sold QuantumScape shares on May 16 and 17, 2024, to cover tax obligations related to the release of restricted stock units.

Summary

• Jagdeep Singh, a director at QuantumScape Corp, sold shares of Class A Common Stock on May 16 and 17, 2024.
• The sales were executed to cover tax obligations arising from the release of restricted stock units (RSUs).
• On May 16, 2024, 85,195 shares were sold at a weighted average price of $5.8232, with prices ranging from $5.78 to $6.01.
• On May 17, 2024, 97,240 shares were sold at a weighted average price of $5.643, with prices ranging from $5.55 to $5.79.
• Following these transactions, Singh directly owns 2,809,253 shares of Class A Common Stock, which includes 1,001,359 shares represented by RSUs and performance restricted stock units (PSUs).
• Singh also indirectly owns 972,978 shares through The Singh Family Trust UDT dated October 3, 1996, and 6,062,408 shares through other trusts.
• Singh disclaims beneficial ownership of the reported securities held by the trusts, except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing share sales by a company director to cover tax obligations; it doesn't inherently convey positive or negative sentiment.

Management Comments

• The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.
• The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The share sales by a director could have a minor impact on shareholder sentiment, but are unlikely to significantly affect the company's operations or financial condition.

Key Dates