Written by Cláudio Afonso | LinkedIn | X
Canoo announced on Wednesday that it issued substantial stock grants to seven members of its Board of Directors as part of the company’s 2020 Equity Incentive Plan, according to SEC Form 4 filings.
The company’s Board of Directors, including the Lead Independent Director Thomas A. Dattilo and the Independent Directors Deborah Diaz, James Chen, Foster Chiang, Debra von Storch, Claudia Edelman, , and Arthur Kingsbury, reported the acquisition of 92,765 restricted stock units (RSUs) each.
| Board of Director Member | Shares awarded |
| Deborah Diaz (Independent Director) | 92,765 |
| James Chen (Independent Director) | 92,765 |
| Foster Chiang (Independent Director) | 92,765 |
| Debra von Storch (Independent Director) | 92,765 |
| Claudia Romo Edelman (Independent Director) | 92,765 |
| Thomas A. Dattilo (Lead Independent Director) | 92,765 |
| Arthur F. Kingsbury (Independent Director) | 92,765 |
These RSUs were granted as part of Canoo’s annual equity awards to its directors and will fully vest on either July 15, 2025, or the company’s 2025 annual meeting, as long as the directors remain in service.
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The reported amounts also reflect adjustments from the company’s 1-for-23 reverse stock split, executed in early March.
Earlier this month, Canoo also granted stock awards to three top executives as part of its equity incentive program. Chief Financial Officer Greg Ethridge was awarded 126,500 shares, while Hector Ruiz and Ramesh Murthy, Senior Vice President and Chief Accounting Officer, received 180,000 shares each.
Last week, Canoo announced an agreement with the logistics company Go2 Delivery for the purchase of five commercial delivery vans with the option to include up to additional 85 vans.
In June, the CFO participated at the Sidoti Small Cap conference where he stated the company is “at the stage of production ramp”. Ethridge said that Canoo will, “overtime”, set up “manufacturing in international locations” besides its manufacturing plant in Oklahoma, United States.
The company has recently announced it had entered into a $15 million Pre-Paid Advance Agreement (PPA) with YA II PN, Ltd., managed by Yorkville Advisors.
Written by Cláudio Afonso | LinkedIn | X
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