Francine Sullivan - Feb 1, 2024 Form 4 Insider Report for EVgo Inc. (EVGO)

Role
Chief Legal Officer
Signature
/s/ Francine Sullivan by Chris Nenno, as Attorney-in-Fact
Stock symbol
EVGO
Transactions as of
Feb 1, 2024
Transactions value $
-$62,282
Form type
4
Date filed
2/5/2024, 08:03 PM
Previous filing
Aug 11, 2023
Next filing
Mar 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EVGO Class A Common Stock Options Exercise +23.2K +42.07% 78.5K Feb 1, 2024 Direct F1
transaction EVGO Class A Common Stock Options Exercise +41.7K +53.09% 120K Feb 1, 2024 Direct F1
transaction EVGO Class A Common Stock Sale -$62.3K -29.9K -24.85% $2.09 90.3K Feb 2, 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EVGO Restricted Stock Units Options Exercise $0 -23.2K -50% $0.00 23.2K Feb 1, 2024 Class A Common Stock 23.2K Direct F1, F3
transaction EVGO Restricted Stock Units Options Exercise $0 -41.7K -33.33% $0.00 83.3K Feb 1, 2024 Class A Common Stock 41.7K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") awarded under the Issuer's 2021 Long Term Incentive Plan. Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's Class A common stock, $0.0001 par value ("Class A Common Stock").
F2 The sales reported in this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs pursuant to the Issuer's mandatory sell to cover policy, which requires sales in an amount sufficient to cover tax withholding obligations associated with the vesting events, and do not represent discretionary trades by the Reporting Person. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $2.035 to $2.200, inclusive, pursuant to the Reporting Person's 10b5-1 trading plan adopted on September 28, 2023. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price in the transactions described in this footnote 2.
F3 The RSUs vest in three equal annual installments on each of the first three anniversaries of February 1, 2022, subject to the Reporting Person's continued employment through each vesting date.
F4 The RSUs vest in three equal annual installments on each of the first three anniversaries of February 1, 2023, subject to the Reporting Person's continued employment through each vesting date.