Symbotic Inc. Chief Technology Officer James Kuffner executed a sell-to-cover transaction on August 24, disposing of 3,952 shares of the company’s Class A common stock for $160,421.
The trades were executed at an average price of $40.5926 per share, within a range of $40.565 to $40.67. The transaction was not discretionary; it was mandated by equity incentive plans to cover tax withholding obligations arising from the vesting of restricted stock units.
Kuffner had acquired 9,748 shares the previous day through the settlement of restricted stock units originally granted on November 23, 2024. The units follow a staggered vesting schedule, with one-third vesting on November 23, 2025, and the remainder vesting quarterly in 1/12 increments thereafter.
Following the transactions, Kuffner holds 219,858 shares directly and 48,744 restricted stock units. Symbotic’s Class A stock was trading near its 52-week low of $38.19 at the time of the sale, down approximately 30% over the prior six months.
Symbotic reported fiscal third-quarter revenue of $721 million, a 22% year-over-year increase, while adjusted EBITDA more than doubled to $95 million. GAAP profit reached $55 million, a significant improvement from a loss in the same period last year.
