By Mackenzie Tatananni

QuantumScape may not have revenue, but shares of the electric-vehicle battery maker have tripled this year. Top executives are taking the opportunity to sell stock.

QuantumScape filed its latest quarterly financial results with the Securities and Exchange Commission on Oct. 24. The disclosure was followed by a string of sales from company insiders.

QuantumScape didn't respond to a request for comment on the sales.

CEO Siva Sivaram, who assumed the role last year, was the highest-ranking executive to sell shares.

According to a Form 4 filed with the SEC on Tuesday, Sivaram sold 30,000 shares for $16.61 apiece on Oct. 24. A second sale on Oct. 27 saw Sivaram unload 90,000 shares for roughly $17.05 each. In total, the sales came to just over $2 million worth of stock.

Following the transactions, Sivaram directly owned 4,132,700 shares, valued at $65 million based on Wednesday's closing price of $15.84. The figure includes 3,802,429 shares represented by restricted stock units and performance-restricted stock units. The CEO indirectly owned an additional 360,000 shares through trusts.

Other insiders sold stock after first exercising options. Also on Oct. 24, the company's chief legal officer, Michael McCarthy, exercised an option to acquire 25,000 shares for $2.38 each, according to a securities filing. The same day, he sold 46,264 shares for $15.26 each, for a total of $705,988. Like Sivaram, McCarthy's direct holdings of 1,376,118 shares are largely comprised of RSUs and PSUs.

Chief development officer Mohit Singh also executed a sale on Oct. 24. A Form 4 shows Singh exercised an option to acquire 62,975 shares for $2.38 each before selling 220,000 shares for $15.09 each, or $3.3 million. Following the transactions, Singh directly owned 1,420,054 shares, including 1,364,273 RSUs and PSUs.

Two company directors, Brad Buss and Fritz Prinz, also made sales on Oct. 24.

QuantumScape makes solid-state EV batteries that promise lower costs, better energy density, and superior safety over traditional lithium-ion batteries.

Shares of QuantumScape have surged 208% this year. The stock popped in early September after the company gave a live demonstration of its solid-state lithium-metal batteries. Much of the hype around the stock has to do with that technology, which is still in development.

QuantumScape isn't profitable. The company posted a loss of $105.8 million in its third quarter. However, QuantumScape highlighted $12.8 million in customer billings, saying the figure provided insight into "future cash inflows."

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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October 31, 2025 02:00 ET (06:00 GMT)

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