CTO Timothy Holme sells 120,000 shares for $610,524

What did QuantumScape Corp announce?

QuantumScape Chief Technology Officer Timothy Holme sold 120,000 Class A shares at $5.09 for $610,524 under a pre-arranged 10b5-1 trading plan.

Key details

• Sale comprised 75,000 shares held directly plus 22,500 shares from The Holme 2020 Irrevocable Trust and 22,500 shares from Trusts, all at $5.09.
• The trust sales were funded by conversion of Class B Common Stock into Class A Common Stock (22,500 shares each), a non-cash exchange at $0.00.
• Holme retains 1,583,075 Class A shares held directly after the transaction.
• The transaction was made under a pre-arranged 10b5-1 plan and the Form 4 was filed outside regular trading hours.

Why it matters

This 4 reports an insider transaction at QuantumScape Corp. The likely share-price reaction reads as neutral.