Form 4: SES AI Corp Executive Kyle Pilkington Sells Shares to Cover Tax Obligations

Kyle Pilkington, Chief Legal Officer of SES AI Corp, sold 4,276 shares of Class A Common Stock on August 12, 2024, to cover withholding taxes on vesting restricted stock units.

Summary

• On August 12, 2024, Kyle Pilkington, the Chief Legal Officer of SES AI Corp, sold 4,276 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $0.8114 per share, with individual transactions ranging from $0.81 to $0.85.
• This transaction was part of an automatic sell-to-cover arrangement to meet tax obligations related to the vesting of restricted stock units (RSUs).
• The sell-to-cover arrangement was designed to comply with Rule 10b5-1(c).
• Following the transaction, Pilkington beneficially owns 540,631 shares, including 472,883 shares underlying RSUs that are subject to vesting.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes) by an executive, which is neither particularly positive nor negative.

Industry Context

Sales of shares by company executives are a normal part of corporate governance, especially when related to covering tax obligations from vesting equity. It's common for executives to use Rule 10b5-1 trading plans to automate these transactions and avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but the impact is likely to be minimal given the reason for the sale (tax obligations) and the relatively small number of shares involved.

Key Dates