stock options

Nikola founder Trevor Milton guilty on 3 fraud counts

Lawyers and Trevor Milton walk to court

Nikola Corp. founder Trevor Milton was found guilty of three federal counts of fraud on Friday following a 3 1/2-week trial in the U.S. District Court for the Southern District in Manhattan, New York. Prosecutors called Milton a liar and “con man” who intentionally defrauded investors in the electric truck startup.

Milton, 40, was convicted on one count of securities fraud and two counts of wire fraud, including the acquisition of a Utah ranch partially paid for with Nikola stock options that...

https://www.freightwaves.com/news/nikola-founder-trevor-milton-guilty-on-3-fraud-counts

Truck Talk: Cost of change edition

This week, we look at the costs associated with changing corporate captains; tiremakers rolling into trucking autonomy and electrification, and static-free AM/FM radio in the Freightliner Cascadia.  

The cost of change

Leadership change can be expensive, both to remove a current CEO and to hire a new one. Here are three recent example as startups and early stage growth companies onboard operating experience in place of visionary or slow-moving leaders:

Lordstown Motors Corp.

The ouster of Steve...

https://www.freightwaves.com/news/truck-talk-cost-of-change-edition

Trevor Milton making good on stock pledge to early Nikola employees

Nikola Corp. (NASDAQ: NKLA) founder Trevor Milton is out of the management loop at the startup electric truck maker, but he is playing a recent 40% runup in Nikola stock to make good on his pledge to reward early employees.

Milton has cashed out 3.8 million of 6 million founders’ stock options he promised to give to early employees, according to Securities and Exchange Commission (SEC) filings reviewed by FreightWaves.

Those options cost $1.06 per share to acquire. They have sold for various...

https://www.freightwaves.com/news/trevor-milton-making-good-on-stock-pledge-to-early-nikola-employees

Minting millionaires and building buzz at Nikola

Nikola Corp. Executive Chairman Trevor Milton believes buzz-building creates long-term value for the electric truck startup. So, even if publicity was not a goal of his recent gift of 6 million of his shares to several dozen early employees, he’s fine with the attention.

“I think it’s important for every company in the world to stay in front of their followers, and their investors, and their clients, and their customers,” Milton told FreightWaves. “Investors in this generation want to be kept up...

https://s29755.pcdn.co/news/minting-millionaires-and-building-buzz-at-nikola