Jagdeep Singh - Aug 22, 2023 Form 4 Insider Report for QuantumScape Corp (QS)

Signature
/s/ Michael O. McCarthy III, attorney-in-fact
Stock symbol
QS
Transactions as of
Aug 22, 2023
Transactions value $
-$52,430
Form type
4
Date filed
8/24/2023, 04:18 PM
Previous filing
Aug 18, 2023
Next filing
Nov 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QS Class A Common Stock Award $0 +13.7K +0.41% $0.00 3.32M Aug 22, 2023 Direct F1
transaction QS Class A Common Stock Tax liability -$52.4K -7.7K -0.23% $6.81 3.31M Aug 23, 2023 Direct F2, F3, F4
holding QS Class A Common Stock 971K Aug 22, 2023 By: The Singh Family Trust UDT dated October 3, 1996
holding QS Class A Common Stock 6.06M Aug 22, 2023 By: Trusts F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Issuer granted restricted stock units ("RSUs") to all eligible employees, including the Reporting Person, as an interim bonus payout granted under the Issuer's 2023 Annual Bonus Plan. Each RSU represents the Reporting Person's right to receive one share of Class A Common Stock of the Issuer. 100% of the RSUs vest on the award grant date.
F2 Represents a sale to cover tax obligations on the release of RSUs. The shares of the Issuer's common stock held by the Reporting Person, including shares received upon vesting of the RSUs, are subject to a lock-up agreement with the underwriters for the public offering of Class A Common Stock by the Issuer for which the underwriting agreement was entered into on August 3, 2023.
F3 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.79 to $6.90, inclusive. 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 within the ranges set forth in this footnote to this Form 4.
F4 Includes 1,905,436 shares represented by RSUs. Each RSU represents the Reporting Person's right to receive one share of Class A Common Stock of the Issuer. A portion of the RSUs vest each quarter, subject to the Reporting Person's continued service as of each vesting date.
F5 The Reporting Person's family members are beneficiaries of the trusts. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.