Khan Badar 4

What Happened

• Khan Badar, CEO of EVgo Inc. (EVGO), had 189,933 restricted stock units (RSUs) vest on February 1, 2026. The RSUs converted into 189,933 shares of Class A common stock.
• To satisfy tax withholding, 50,266 shares were surrendered/withheld at a settlement price of $3.01 per share, totaling $151,301. After withholding, the reporting person received a net ~139,667 shares.
• This was not an open‑market purchase or sale; it was the settlement of equity awards (award/vest), so it is generally a routine, non‑market liquidity transaction rather than a directional buy or sell signal.

Key Details

• Transaction date: February 1, 2026; Form 4 filed February 3, 2026 (timely).
• Vesting/conversion code: M (exercise/conversion of a derivative — RSU conversion). Tax withholding code: F (payment of exercise price or tax liability).
• Withheld shares: 50,266 @ $3.01 = $151,301 (settlement price used was the Jan 30, 2026 close per footnote).
• Gross shares from vesting: 189,933; net shares received: ~139,667.
• Shares owned after transaction: not specified in this filing.
• Footnotes: F1–F3 confirm these were RSUs under the 2021 LTIP, vesting schedule is three equal annual installments beginning Feb 1, 2025, and the Jan 30, 2026 close was used to calculate withholding. A prior Form 4 (Mar 18, 2025) noted a related vesting reporting detail.

Context

• This was an RSU vesting with share withholding to cover taxes (common “net share settlement”), not an open‑market sale or purchase. Such filings reflect compensation realization rather than an explicit buy/sell decision.
• For retail investors, purchases (insider buys) are often viewed as stronger signals than routine vesting/withholding. This filing should be viewed as compensation settlement, not a directional insider trade.