SES.NYSESes Ai CORP

Form 4: SES AI Corp CFO Jing Nealis Reports Share Disposal for Tax Obligations

Sentiment:

SEC Form 4 Filing

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Jing Nealis, CFO of SES AI Corp, reports the disposal of shares to cover withholding tax obligations related to vesting restricted share awards.

Summary

  • Jing Nealis, the CFO of SES AI Corp, filed a Form 4 detailing changes in beneficial ownership.
  • On August 19, 2024, Nealis disposed of 11,025 shares of Class A Common Stock at a price of $1.02.
  • This disposal was to cover withholding tax obligations related to the vesting of a restricted share award and the shares were not sold by the reporting person.
  • Following the transaction, Nealis beneficially owns 1,979,422 shares, which includes 370,799 unvested shares of Class A Common Stock and 824,552 shares underlying restricted stock units.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of share disposal for tax purposes, which is neither particularly positive nor negative. It's a neutral event in the context of insider trading regulations.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company stock, providing transparency to investors.

Stakeholder Impact

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

Key Dates

DateDescription
08/16/2021Date of grant for the restricted share award, which vests 25% on the first anniversary and then in equal monthly installments over the following 36 months.
08/19/2024Date of transaction where 11,025 shares were disposed of to cover withholding tax obligations.
08/20/2024Date of signature for the Form 4 filing.

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