The Chief Accounting Officer of the EV startup Fisker, John Finnucan, exercised on August 31 incentive stock options (ISOs) to acquire 2,350 shares of Class A common stock in the company. Following the transaction, Finnucan owns now a total of 14,118 Fisker sharesat an average price of $7.47 per share.
The company added that Finnucan, that works at the company since 2020, did not sell shares to cover the strike price for his options but instead elected to pay cash to execute the transaction.
“The option vested and became exercisable as to 20% of the total number of shares on October 12, 2021, 1/20th of the total number of shares will vest and become exercisable on each of the next 11 quarters in equal installments, and 25% of the total number of shares will vest and become exercisable on October 12, 2024”, the filing says.
Recently, the CEO Henrik Fisker said he expects the reservations for the company’s first model Ocean to reach 80,000 by the year-end. The EV maker had announced on June 8 that surpassed 50,000 reservations for Fisker Ocean and is now 22,000 reservations away from the 80,000 goal with four and a half months left.
Last month, the company announced it is considering expanding the initial production pace of 50,000 units per year for its first model Fisker Ocean due to increasing enthusiasm worldwide.
The electric vehicle maker added that is also exploring manufacturing in the U.S. which would make its vehicles eligible for the recently approved EV tax Credit.