Shafer Andrew 4
4 · Gevo, Inc. · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
Gevo (GEVO) Andrew Shafer Exercises Options, Sells Shares
What Happened
Andrew Shafer, Gevo's Chief Cust Mkt & Brnd Officer, exercised derivative awards and sold 5,550 shares on March 10, 2026. The Form 4 reports an exercise entry at $0.71 per share (total cost $3,941), a second exercise entry reported at $0.00, and an open-market sale of 5,550 shares at a weighted average price of $2.21 per share (gross proceeds $12,245). The sequence — exercise followed by sale the same day — is consistent with a cashless exercise or sell-to-cover transaction, i.e., shares were exercised and then sold.
Key Details
- Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely).
- Exercises (Code M): 5,550 shares acquired at $0.71 (total $3,941) and a separate exercise entry of 5,550 shares at $0.00 (reported as derivative acquisition).
- Sale (Code S): 5,550 shares sold at a weighted average $2.21; total proceeds reported $12,245. Sales occurred at prices between $2.185 and $2.23 per share (weighted avg reported).
- Shares owned after transaction: not specified in this filing.
- Footnotes: transactions were effected under a 10b5-1 trading plan adopted Nov 19, 2025 (F1); sale price is a weighted average across multiple executions (F2); related 401(k) plan activity between Jan 25 and Mar 10, 2026 is disclosed (F3); option vested in annual installments beginning May 22, 2025 (F4).
Context
Because the exercise and sale occurred the same day, this appears to be a routine cashless exercise/sell-to-cover rather than an open-market purchase that would signal new insider bullishness. The presence of a 10b5-1 plan indicates the sales were pre-arranged under an established trading plan.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-10$0.71/sh+5,550$3,941→ 276,373 total - Sale
Common Stock
[F2]2026-03-10$2.21/sh−5,550$12,245→ 270,823 total - Exercise/Conversion
Stock Option
[F4]2026-03-10+5,550→ 196,950 totalExercise: $0.71Exp: 2034-05-21→ Common Stock (5,550 underlying)
- 16,877.69(indirect: By 401(k))
Common Stock
[F3]
Footnotes (4)
- [F1]The reported transactions were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 19, 2025.
- [F2]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.185 to $2.23 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]Between January 25, 2026 and March 10, 2026, the reporting person (i) acquired 7,096.69 shares of the issuer's common stock under the issuer's 401(k) plan; and (ii) disposed of 7.14 shares of the issuer's common stock under the issuer's 401(k) plan to cover administrative fees. The information in this report is based on a plan statement dated February 27, 2026.
- [F4]The option became exercisable in three equal annual installments beginning on May 22, 2025.