Bevirt JoeBen 4

What Happened

• JoeBen Bevirt, a founder and reported 10% owner of Joby Aviation (JOBY), exercised/converted 29,762 derivative/RSU shares on Feb 12, 2026 (acquired at $0.00) and sold a total of 585,274 shares in open-market trades between Feb 13 and Feb 17, 2026 for aggregate proceeds of approximately $5,799,632. The open-market sales were at weighted average prices around $9.88–$9.91 per share. Some of the sold shares were to cover taxes tied to the RSU/derivative settlement.

Key Details

• Transaction dates & prices:
  • 2026-02-12: Exercise/conversion of 29,762 derivative/RSU shares at $0.00 (acquired).
  • 2026-02-13: Sale of 14,456 shares at $9.88 (proceeds $142,825).
  • 2026-02-17: Sales of 63,636; 386,182; and 121,000 shares at weighted avg $9.91 (combined proceeds ~$5,656,807). One multi-trade block executed at $9.63–$10.14 (weighted avg reported).
• Total sold: ~585,274 shares for ~$5.8M; total acquired via conversion: 29,762 shares.
• Shares owned after transaction: Not specified in the provided excerpt of the filing—see the full Form 4 for post-transaction holdings.
• Notable footnotes:
  • F1: Some shares were sold to cover taxes upon RSU release/settlement.
  • F2: Certain sales were executed under an approved 10b5-1 trading plan adopted Oct 10, 2025.
  • F3: One large sale was executed in multiple trades at prices ranging $9.63–$10.14 (weighted average reported).
  • F8: The converted award relates to RSUs that vest based on performance over three years.
  • F4–F7: Several holdings are held in related trusts for which Bevirt is trustee or where his spouse has an interest.
• Filing timeliness: Form filed on Feb 17, 2026; the report covers transactions from Feb 12–17 and was filed within the SEC’s two-business-day window (timely).

Context

• The Feb 12 entry was a derivative conversion/RSU settlement (M = exercise/conversion). Some or all of the newly-acquired shares were immediately sold to cover tax withholding (a common, non-speculative administrative step).
• Other sales were executed under a pre-established 10b5-1 plan, which is a preset trading arrangement that can indicate routine disposition rather than opportunistic timing.
• As a 10% owner and trustee for related trusts, Bevirt’s filings reflect both personal and trust-held securities; these transactions are disclosures of beneficial ownership changes rather than direct commentary on company prospects.