QuantumScape Files a Registration Statement on Form S-8 with the SEC

Rhea-AI Summary

QuantumScape Corporation (NYSE: QS) has filed a registration statement on Form S-8 with the SEC to register shares under its equity incentive plans. This includes the 2010 Equity Incentive Plan, the 2020 Employee Stock Purchase Plan, and the 2020 Equity Incentive Plan. Approximately 95% of the shares are currently locked-up or subject to trading restrictions. QuantumScape has not yet implemented the employee stock purchase plan, and no shares have been issued under the 2020 ESPP. The company focuses on developing solid-state lithium-metal batteries for electric vehicles.

Positive

• QuantumScape is a leader in solid-state lithium-metal battery development for electric vehicles.
• Filing of Form S-8 indicates ongoing commitment to employee equity incentives and shareholder engagement.

Negative

• Approximately 95% of the issued shares are locked-up or restricted from trading, limiting liquidity.

QuantumScape Corporation (NYSE: QS, or "QuantumScape"), a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles (EVs), today filed a registration statement on Form S-8 with the SEC.

The purpose of the Form S-8 is to register shares under the QuantumScape 2010 Equity Incentive Plan (the “2010 Plan”), the 2020 Employee Stock Purchase Plan (the “2020 ESPP”) and the 2020 Equity Incentive Plan (the “2020 Plan”). The number of shares issued or issuable under these plans was disclosed in the Company’s Registration Statement on Form S-1 filed on December 17, 2020.

The shares being registered on the Form S-8 include shares issued under the 2010 Plan or the 2020 Plan. Approximately 95% of these shares are currently locked-up pursuant to the lock-up agreements that the Company and equity holders entered into in connection with the Business Combination or are subject to trading restrictions under the Company’s insider trading policy that prevents them from being sold at this time. The shares registered on the Form S-8 also include shares that may be issued in the future under the 2020 Plan. Such shares would be subject to the approval of QuantumScape’s Board and the vesting terms determined by the Board.

The Company has not yet implemented an employee stock purchase plan, and no shares have been issued under the 2020 ESPP.

About QuantumScape Corporation

QuantumScape is a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company's mission is to revolutionize energy storage to enable a sustainable future.

For additional information, please visit www.quantumscape.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210201005511/en/

FAQ

What is the purpose of QuantumScape's Form S-8 filing?

The Form S-8 is filed to register shares under the 2010 Equity Incentive Plan, the 2020 Employee Stock Purchase Plan, and the 2020 Equity Incentive Plan.

How many shares are locked-up following QuantumScape's filing?

Approximately 95% of the shares registered are currently locked-up or subject to restrictions.

Has QuantumScape issued shares under the 2020 Employee Stock Purchase Plan?

No, QuantumScape has not yet implemented the 2020 Employee Stock Purchase Plan and no shares have been issued.

What is QuantumScape's focus in the battery market?

QuantumScape focuses on developing next-generation solid-state lithium-metal batteries for electric vehicles.