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Joby Aviation, Inc.·4

Mar 11, 6:16 PM ET

Papadopoulos Didier 4

Research Summary

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Updated

Joby (JOBY) President Didier Papadopoulos Sells Shares

What Happened
Didier Papadopoulos, President of Aircraft OEM at Joby Aviation (JOBY), had RSUs convert to common stock and sold shares in the open market. On March 9, 2026 he converted/received 5,263 shares from RSU settlements (3,662 + 1,601) at $0 per share; those same 5,263 shares were immediately withheld/disposed to cover taxes (no cash proceeds reported). Separately, he sold 1,915 shares on March 10, 2026 at $10.25 ($19,629) and 1,172 shares on March 11, 2026 at $9.90 ($11,603), for total open-market proceeds of $31,232.

Key Details

  • Transaction dates/prices:
    • 2026-03-09: RSU conversion/exercise — 3,662 and 1,601 shares acquired at $0; same amounts disposed to cover taxes (derivative withholding).
    • 2026-03-10: Open-market sale — 1,915 shares @ $10.25 = $19,629.
    • 2026-03-11: Open-market sale — 1,172 shares @ $9.90 = $11,603.
  • Total open-market shares sold: 3,087 shares for $31,232.
  • Shares acquired and immediately withheld for taxes: 5,263 shares (no cash proceeds reported for these disposals).
  • Footnotes of note:
    • F1: The withheld/ disposed shares were sold to cover taxes on RSU settlement.
    • F2: The open-market sale(s) were made pursuant to an approved 10b5-1 trading plan (adopted Sept 2, 2025).
    • F3/F4: The transactions relate to performance-based RSU awards with vesting tied to achievement of goals; vesting was scheduled across Jan–Apr 2026 with variable payout multipliers.
  • Shares owned after the reported transactions: not disclosed in the filing.
  • Filing timeliness: Report filed March 11, 2026 covering a March 9, 2026 report date — filing appears timely (no late filing indicated).

Context

  • The RSU conversions at $0 reflect settlement of restricted stock units (contingent rights to shares) rather than a cash purchase; withholding/disposal of the same shares to cover taxes is a routine administrative step, not a market-directional purchase.
  • The open-market sales were executed under a pre-established 10b5-1 plan, which typically schedules trades in advance and is considered a routine mechanism for insiders to sell shares.
  • No indication in this filing of additional purchases; these transactions are primarily routine vesting/withholding and planned selling rather than new insider accumulation.