Joby Aviation , Inc. (NYSE:) has recently seen a notable transaction from one of its top executives. Kate DeHoff, serving as the General Counsel and Corporate Secretary of the company, sold a total of 10,149 shares of common stock on April 3, 2024, at a price of $4.96 per share. This sale resulted in a total transaction value of $50,339.
The transactions were carried out in a series of three separate sales, with 5,026 shares, 1,979 shares, and 3,144 shares sold in each respective sale. These sales were executed to cover taxes due upon the release and settlement of restricted stock units (RSUs), as required by the terms of the RSU award.
In addition to the sales, DeHoff also acquired shares through the vesting of RSUs. On April 1, 2024, DeHoff acquired 5,224 shares, 13,280 shares, and 8,305 shares through RSU vesting, which had no cost associated with the transaction. The vesting of these RSUs is part of a compensation structure that allows the executive to earn shares of common stock upon meeting certain service conditions over a period of time.
Following these transactions, DeHoff’s ownership in the company stands at 192,743 shares of common stock. The RSU awards and subsequent sales are part of the company’s incentive plan for its executives, aligning their interests with those of the shareholders and the long-term success of Joby Aviation.
Investors often monitor insider transactions as they can provide insights into how the company’s top executives view the stock’s value and prospects. Joby Aviation, known for its work in the aircraft manufacturing industry, continues to be under the watchful eye of the market as it progresses with its business plans.
For those interested in the specifics of the transactions, details can be found in the Form 4 filed with the Securities and Exchange Commission.
InvestingPro Insights
Joby Aviation, Inc. (NYSE:JOBY), a pioneer in the aircraft manufacturing industry, has been making waves with its innovative approach to urban air mobility. As the market scrutinizes the recent insider transactions, it’s worthwhile to consider the company’s financial health and prospects. According to InvestingPro data, Joby Aviation holds a market capitalization of approximately $3.46 billion USD. Despite the challenges in the industry, the company boasts an impressive gross profit margin of 80.62% for the last twelve months as of Q4 2023, highlighting its potential to optimize profitability as it scales up operations.
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