Shah Neerav Dilip 4

What Happened

• Shah Neerav Dilip, Chief Strategy Officer and Director of Arrive AI (ARAI), received 25,348 shares from vested Restricted Stock Units (RSUs) granted on Dec 31, 2025. Of those, 8,315 shares were relinquished to cover taxes, leaving a net issuance of 17,033 shares. The conversion/exercise of the derivative (RSU to common shares) and the vested award were reported at a $0.00 price (compensation award).
• In addition, Shah was granted 566,038 performance-based RSUs on March 31, 2026 under the company’s 2023 Equity Incentive Plan. These RSUs vest subject to performance and time: 188,678 shares on 3/31/2027, 188,680 on 3/31/2028, and 188,680 on 3/31/2029. The RSUs do not expire and are contingent on achievement of company performance objectives.

Key Details

• Transaction date(s): March 31, 2026 (vesting/conversion and new grant); original RSU grant date for vested units: Dec 31, 2025.
• Prices reported: $0.00 per share (compensation awards/convertive transactions).
• Shares involved: 25,348 vested (gross); 8,315 withheld for taxes; net issued 17,033; new grant of 566,038 performance RSUs.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: Withholding of 8,315 shares was to cover tax liabilities; all RSUs issued under the 2023 Equity Incentive Plan; newly granted RSUs vest over 2027–2029 subject to performance; RSUs do not expire.
• Transaction codes explained: A = award/grant; M = exercise/conversion of derivative (RSUs converted to shares); F = shares surrendered for tax withholding.
• Filing timeliness: No late filing indicated in the disclosure.

Context

• This activity is compensation-related (RSU vesting and a new performance-based RSU grant), not an open-market buy or sale. The tax-withholding surrender is routine and does not necessarily indicate a change in insider sentiment.
• The conversion was of RSUs (derivative to common shares) at no cash exercise price, not a cash purchase of shares. The large new RSU grant is performance-conditioned and vests over multiple years, aligning compensation with future company performance.