Joby Aviation executive Kate DeHoff sells shares worth over $108k
has reported through an SEC filing that its executive, Kate DeHoff, recently engaged in multiple stock transactions. DeHoff, who serves as General Counsel and Corporate Secretary of the aircraft manufacturing company, sold a total of 18,315 shares of common stock. The transactions were executed over two separate dates, resulting in proceeds exceeding $108,000.
On July 11, 2024, DeHoff sold 12,500 shares at a price of $5.50 per share, totaling $68,750. A subsequent sale was made on July 15, 2024, where 5,815 shares were sold at a higher price of $6.76 per share, amassing $39,309. It is noted in the footnotes of the filing that the first sale was made pursuant to an approved 10b5-1 trading plan adopted on June 14, 2023. The second sale was 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, the filing also disclosed a transaction where DeHoff acquired 16,065 shares on July 12, 2024, through the vesting of RSUs at no cost. These RSUs are part of an award that vests in portions over time, contingent upon continued service with the company.
Following these transactions, the updated ownership stake of DeHoff in Joby Aviation is detailed in the SEC filing, reflecting the changes in her investment position. The reported trading activities provide current and potential investors with insights into executive stock movements within the company, which can be an indicator of the executive’s view on the company’s current valuation and future prospects.
Investors and market watchers often monitor insider transactions as they can provide valuable signals about the health and direction of a company. Joby Aviation, headquartered in Santa Cruz, California, specializes in aircraft manufacturing and operates within the aerospace sector.
The stock transactions are public information, and the details provided in the SEC Form 4 filing are mandatory disclosures for company insiders, ensuring transparency in the market.
In other recent news, Joby Aviation, Inc. has been making significant strides in the aviation industry. The company successfully completed a 523-mile test flight using a hydrogen-electric vertical take-off and landing (VTOL) aircraft, marking a potential shift towards emissions-free regional air travel. The aircraft, developed in collaboration with Joby’s subsidiary H2FLY, ended its flight with water as the sole emission, demonstrating a significant advancement in Joby’s technology roadmap.
Joby Aviation also acquired Xwing Inc.’s autonomy division, a move that is expected to expedite Joby’s piloted operations and pave the way for fully autonomous flights. The company also received authorization from the Federal Aviation Administration (FAA) for its software suite, ElevateOS, which aims to enable efficient air taxi operations.
In terms of financial progress, Joby Aviation reported advancements in the first quarter of 2024, including the completion of Stage 3 of the FAA-type certification process and the expansion of its manufacturing capabilities with a new facility in Ohio. The company ended the quarter with $924 million in cash and short-term investments.
Furthermore, Joby Aviation maintained its Buy rating from Canaccord Genuity and announced a potential sale of its electric vertical takeoff and landing (eVTOL) aircraft to Mukamalah Aviation, a subsidiary of Saudi Aramco (TADAWUL:2222). This could mark a significant expansion into the Saudi market. These are just some of the recent developments from Joby Aviation.
