QuantumScape CFO Sells Shares as Part of Automatic Tax Withholding
Kevin Hettrich, the chief financial officer (CFO) of QuantumScape Corporation (QS), sold 31,095 shares on August 18 at a total value of $179,000. The transaction was part of an automatic sale-to-cover process to satisfy tax obligations following equity vesting and does not indicate a change in his investment stance. Hettrich still holds over 1.8 million directly owned shares with a post-transaction market value of approximately $10.28 million as of the August 18 close, at which point QuantumScape's stock was trading around $5.76 per share. The company is in its pre-revenue phase and reported a trailing twelve-month net loss of $405 million. QuantumScape continues to focus on developing solid-state lithium-metal batteries for electric vehicles with plans to commercialize the technology. Despite ongoing losses, it maintains a market capitalization of around $3.6 billion.
Tickers: $QS
Topics: CFO sale QuantumScape SEC Form 4