Gevo (GEVO) CMO option exercise and 5,550-share sale under plan

Rhea-AI Filing Summary

Gevo, Inc. Chief Customer, Marketing & Brand Officer Andrew Shafer exercised stock options and sold the resulting shares under a pre-set trading plan. On March 10, 2026, he exercised options for 5,550 shares of common stock at $0.71 per share and sold 5,550 shares at a weighted average price of $2.2063 per share, in multiple trades between $2.185 and $2.23.

The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on November 19, 2025, indicating they were pre-scheduled. Following these transactions, he holds 270,823 shares directly and 16,877.69 shares indirectly through a 401(k) plan, reflecting a relatively small sale versus his overall position.

Insider Trade Summary 10b5-1

Net Seller: 5,550 shares ($12,245)

Net Sell 4 txns

Insider Shafer Andrew

Role Chief Cust Mkt & Brnd Officer

Sold 5,550 shs ($12K)

Type	Security	Shares	Price	Value
Exercise	Stock Option	5,550	$0.00	--
Exercise	Common Stock	5,550	$0.71	$4K
Sale	Common Stock	5,550	$2.2063	$12K
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 196,950 shares (Direct); Common Stock — 276,373 shares (Direct); Common Stock — 16,877.69 shares (Indirect, By 401(k) Plan)

Footnotes (1)

1. The reported transactions were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 19, 2025. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.185 to $2.23 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Between January 25, 2026 and March 10, 2026, the reporting person (i) acquired 7,096.69 shares of the issuer's common stock under the issuer's 401(k) plan; and (ii) disposed of 7.14 shares of the issuer's common stock under the issuer's 401(k) plan to cover administrative fees. The information in this report is based on a plan statement dated February 27, 2026. The option became exercisable in three equal annual installments beginning on May 22, 2025.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shafer Andrew

(Last) (First) (Middle)

C/O GEVO, INC. 345 INVERNESS DRIVE SOUTH

BUILDING C, SUITE 310

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Gevo, Inc. [ GEVO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Cust Mkt & Brnd Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/10/2026		M(1)		5,550	A	$0.71	276,373	D
Common Stock	03/10/2026		S		5,550	D	$2.2063	270,823(2)	D
Common Stock								16,877.69(3)	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$0.71	03/10/2026		M		5,550		(4)	05/21/2034	Common Stock	5,550	$0	196,950	D

Explanation of Responses:

1. The reported transactions were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 19, 2025.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.185 to $2.23 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. Between January 25, 2026 and March 10, 2026, the reporting person (i) acquired 7,096.69 shares of the issuer's common stock under the issuer's 401(k) plan; and (ii) disposed of 7.14 shares of the issuer's common stock under the issuer's 401(k) plan to cover administrative fees. The information in this report is based on a plan statement dated February 27, 2026.

4. The option became exercisable in three equal annual installments beginning on May 22, 2025.

	/s/ E. Cabell Massey, Attorney-in-Fact	03/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transactions did Gevo (GEVO) executive Andrew Shafer report?

Andrew Shafer reported exercising stock options for 5,550 Gevo shares and selling 5,550 shares on March 10, 2026. The activity combined a derivative option exercise at $0.71 per share with an open-market sale of the resulting common stock.

How many Gevo (GEVO) shares did Andrew Shafer sell and at what price?

He sold 5,550 Gevo common shares at a weighted average price of $2.2063 per share. Footnotes state the trades occurred in multiple transactions, with prices ranging from $2.185 to $2.23 per share, all reported as one aggregated sale entry.

Was Andrew Shafer’s Gevo (GEVO) share sale under a Rule 10b5-1 plan?

Yes. A footnote explains the reported transactions were effected under a Rule 10b5-1 trading plan adopted on November 19, 2025. Such pre-arranged plans schedule trades in advance, reducing the significance of day-to-day timing decisions for interpreting insider sentiment.

How many Gevo (GEVO) shares does Andrew Shafer own after these transactions?

After the March 10, 2026 transactions, he directly owns 270,823 Gevo common shares. He also indirectly holds 16,877.69 shares through the company’s 401(k) plan, according to the holding entry and related footnote describing recent 401(k) acquisitions and small disposals for plan fees.

What stock option did Andrew Shafer exercise in this Gevo (GEVO) Form 4?

He exercised a stock option covering 5,550 Gevo common shares at a $0.71 exercise price per share. A footnote notes this option became exercisable in three equal annual installments beginning May 22, 2025, and the exercised portion converted into the common shares that were then sold.

What recent 401(k) activity for Gevo (GEVO) shares is disclosed for Andrew Shafer?

A footnote states that between January 25, 2026 and March 10, 2026, he acquired 7,096.69 Gevo shares through the company’s 401(k) plan and disposed of 7.14 shares to cover administrative fees. The report references a plan statement dated February 27, 2026 as the information source.