Bowles Gregory 4
4 · Joby Aviation, Inc. · Filed May 26, 2026
Research Summary
AI-generated summary of this filing
Joby (JOBY) Chief Policy Officer Gregory Bowles Sells Shares After RSU Vest
What Happened
Gregory Bowles, Joby Aviation’s Chief Policy Officer, had 11,156 restricted stock units (RSUs) convert to common stock on May 21, 2026 (reported as an exercise/conversion of a derivative at $0). To cover tax withholding related to the RSU settlement, 11,156 shares were surrendered/disposed (no cash proceeds). Separately, Bowles sold 3,486 shares on May 22, 2026 at $10.74 for $37,440 and 4,602 shares on May 26, 2026 at a weighted average price of $11.47 for $52,785 — total cash proceeds from market sales ≈ $90,225. These were sales (not purchases), and the conversion of RSUs is effectively a vesting/settlement event rather than a cash exercise.
Key Details
- RSU conversion (exercise/conversion of derivative, code M): 11,156 shares converted on 2026-05-21 at $0.
- Shares surrendered/withheld for taxes (code M disposition): 11,156 shares on 2026-05-21 (no cash proceeds). (Footnote F1)
- Open-market sales: 3,486 shares on 2026-05-22 @ $10.74 = $37,440; 4,602 shares on 2026-05-26 @ weighted avg $11.47 = $52,785. Total proceeds ≈ $90,225. (Footnotes F2, F3)
- Sales on 5/22 were made under an approved 10b5-1 trading plan adopted May 13, 2025 (F2). The 5/26 sale was executed in multiple trades at prices $11.27–$11.71; $11.47 is the weighted average (F3).
- The RSUs originated from an award that vests over time (portion vested earlier, remainder in quarterly installments) (F4).
- Shares owned after the transactions are not specified in the provided filing.
- Filing date: May 26, 2026, covering a May 21 conversion—this may be outside the typical 2-business-day Form 4 reporting window for the 5/21 event.
Context
- RSU conversion at $0 simply reflects vesting/settlement of restricted stock units into common shares; no cash purchase was required. Some or all of those vested shares were withheld/surrendered to satisfy tax withholding (a routine occurrence). The additional open-market sales were carried out under a pre-existing 10b5-1 plan and via market trades. Sales to cover taxes and scheduled plan-based sales are common and not necessarily an indicator of insider sentiment about the company. Purchases would generally be more informative as a bullish signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-05-21+11,156→ 190,407 total - Sale
Common Stock
[F1]2026-05-22$10.74/sh−3,486$37,440→ 186,921 total - Sale
Common Stock
[F2][F3]2026-05-26$11.47/sh−4,602$52,785→ 182,319 total - Exercise/Conversion
Restricted Stock Units (RSUs)
[F4]2026-05-21−11,156→ 33,468 totalExercise: $0.00→ Common Stock (11,156 underlying)
Footnotes (4)
- [F1]Represents the aggregate number of shares sold by the Reporting Person to cover taxes due upon the release and settlement of the RSUs, as required by the terms of the RSU award.
- [F2]Sale made pursuant to the Reporting Person's approved 10b5-1 trading plan adopted on May 13, 2025.
- [F3]This transaction was executed in multiple trades at prices ranging from $11.27 to $11.71. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- [F4]Represents an award of restricted stock units ("RSUs") that vests with respect to 16.66% of the RSUs on February 21, 2022 and as to the remaining 83.34% in 20 quarterly installments thereafter, subject to the Reporting Person's continued service through the applicable vesting date. Each RSU represents the contingent right to receive one share of Common Stock upon vesting.