Brumana Rodrigo 4

What Happened
Rodrigo Brumana, Chief Financial Officer of Joby Aviation (JOBY), converted performance-based RSUs into common stock and disposed of a portion. On 2026-03-09 he converted/received 2,772 shares (1,219 + 1,553) at $0.00 per share (derivative conversion). Some of those converted shares were surrendered to cover required tax withholding. On 2026-03-10 he sold 1,159 shares in an open-market transaction at $10.25 per share for proceeds of $11,880. The conversion reflects RSU vesting tied to performance goals (see footnotes).

Key Details

• Transaction dates/prices: 2026-03-09 conversions at $0.00 (1,219 and 1,553 shares); 2026-03-10 open-market sale of 1,159 shares at $10.25 ($11,880 total).
• Tax withholding: Per footnote F1, the shares listed as “disposed” at $0 represent shares surrendered to cover taxes due upon RSU settlement.
• RSU terms: Footnotes F2 and F3 indicate these were performance-contingent RSUs with vesting tied to specific goals and vesting dates (Jan–Apr 2026); some awards can convert to up to 2 shares per RSU depending on performance.
• Shares owned after transaction: Not specified in the Form 4 provided.
• Filing timeliness: Form filed 2026-03-11 for transactions dated 2026-03-09/03-10; filing appears timely under Form 4 reporting rules.

Context
The filing shows a conversion of performance RSUs and a small open-market sale. The surrendered shares were used for tax withholding (a routine administrative step), and the separate sale of 1,159 shares generated modest cash proceeds. This pattern is common with RSU vesting and tax-withholding requirements and does not, by itself, indicate a change in insider sentiment.