Faraday Future (FFAI) CEO Jia Yueting Receives RSUs, Sells 8,262 Shares

What Happened

• Jia Yueting, Global CEO of Faraday Future (FFAI), had 21,842 restricted stock units (RSUs) vest and automatically settle into 21,842 shares on August 24, 2026 (no exercise price).
• Following the settlement, 8,262 of those shares were sold in the open market on August 25, 2026 at a weighted average price of $2.79, generating $23,051. The sale was executed by the broker to satisfy applicable employee tax-withholding obligations.

Key Details

• Transaction dates: RSU settlement/exercise-conversion on 2026-08-24; shares sold on 2026-08-25.
• RSU terms: Each RSU converted to one share, had no exercise price, vested August 24 and were settled for no consideration (Footnote F1).
• Sale details: 8,262 shares sold at a weighted average price of $2.79 (range $2.66–$3.10) for total proceeds of $23,051 (Footnotes F3, F4). Proceeds were remitted to the company to satisfy tax withholding (F3).
• Reverse split note: The company completed a 1-for-150 reverse split on July 23, 2026; the filing notes the reporting person’s issued and outstanding shares were reduced from 531,838 to 3,546 as a result (F2).
• Filing timeliness: No late filing is indicated in the provided data.

Context

• These transactions reflect RSU vesting and a broker sale to cover taxes (a routine, non-discretionary transaction), not a discretionary open-market sale for investment purposes.
• For derivative/RSU activity: the RSUs vested and converted into shares (cashless in the sense there was no exercise price), and a portion of the resulting shares was sold immediately to meet tax obligations.