Form 4: SES AI Corp CFO Jing Nealis Disposes of Shares to Cover Tax Obligations

Jing Nealis, CFO of SES AI Corp, disposed of 26,576 shares of Class A Common Stock to cover withholding tax obligations related to vesting restricted stock units.

Summary

• On April 18, 2024, Jing Nealis, the CFO of SES AI Corporation, disposed of 26,576 shares of Class A Common Stock.
• The disposal was executed to cover the reporting person's withholding tax obligations related to the vesting of restricted stock units (RSUs).
• The shares were disposed of at a price of $1.34 per share.
• Following the transaction, Nealis directly owns 2,023,521 shares of Class A Common Stock.
• This total includes 494,398 unvested shares of Class A Common Stock under a restricted share award granted on August 16, 2021, which vests over time.
• It also includes 824,552 shares of Class A Common Stock underlying restricted stock units, which are subject to forfeiture until they vest.

Sentiment

Score: 5

Explanation: This is a routine transaction related to tax obligations, so it's neutral from an investment perspective. It doesn't indicate a change in the company's fundamentals or the executive's long-term outlook.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
• Similar filings are made by executives at companies like QuantumScape and Solid Power, which are also involved in battery technology, to report changes in their ownership positions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.

Key Dates