Executive sold 25,709 shares at $5.74 to cover taxes from restricted stock units, retaining over 1.3 million shares.
QuantumScape’s Chief Legal Officer Michael O. McCarthy III sold 25,709 shares of Class A Common Stock on August 18 for $5.74 each, totaling approximately $148,000. The sale was non-discretionary, executed solely to cover tax liabilities from restricted stock units (RSUs).
McCarthy retains a significant stake in the company, holding 1,380,083 shares, including RSUs and performance restricted stock units (PSUs). He also acquired 331 shares through the employee stock purchase plan on June 1. QuantumScape’s stock closed at $5.88 on August 19, with a one-year total return of about -30% as of the transaction date.
The transaction does not reflect the executive’s outlook on the company’s equity, according to the filing.