Faraday Future Announces Additional Senior Leadership Entering Into 10b5-1 Stock Purchase Plans
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or the 'Company'), a California-based global shared intelligent electric mobility ecosystem company, today announced that a number of its senior leadership have entered into 10b5-1 executive stock purchase plans. Under SEC compliance rules, there will be either a 45 or 90-day cooling-off period, after which their broker will automatically execute the stock purchases at times and in amounts in accordance with the plans.
A combined total of $60,000 worth of share purchase commitments for FF common stock (including commission fee) were made by various members of FF's leadership team, including Koti Meka, FF CFO, Xiao (Max) Ma, FX brand CEO and Dr. Lei Gu, President of FX Global EV R&D Center. The 10b5-1 plans were officially initiated on June 13, 2025.
'These planned stock purchases reflect the continued confidence by members of FF's core leadership team and serve as a positive indicator by all of them in FF's long-term vision and commitment to our mission and products,' said YT Jia, FF Founder and Global Co-CEO. 'This is yet another demonstration of our core principle: Stockholders First.'
ABOUT FARADAY FUTURE
Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/us/
FORWARD LOOKING STATEMENTS
This press release includes 'forward looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'plan to,' 'can,' 'will,' 'should,' 'future,' 'potential,' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding 10b5-1 purchase plans, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: each executive's ability to cancel or amend his 10b5-1 purchase plan; potential volume limitations under Rule 144 or Rule 145 of the Securities Act of 1933, as amended, or Regulation M; the possible suspension of purchases due to a trading suspension, legal, regulatory or contractual restrictions; or a subsequent determination that a 10b5-1 plan does not comply with Rule 10b5-1 or other applicable securities laws. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.
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