Eduardo Couto
About Eduardo Couto
Eduardo Siffert Couto, 43, has been Chief Financial Officer and principal financial officer of Eve Holding, Inc. (Eve Air Mobility) since 2021. He previously spent seven years at Embraer leading Treasury, Insurance, Cash Management, Investor Relations, M&A and Sales Finance globally; prior roles include sell-side analyst (Morgan Stanley, Goldman Sachs) for 7+ years and Portfolio Manager at Santander Asset Management for four years. He holds a B.S. in Electronic Engineering from ITA and the CFA designation . Eve is pre‑revenue; in FY2024 the company reported a net loss of $138.2M with cash consumption of $141.2M, ending 2024 with total liquidity of $428.6M; it completed assembly of its first full‑scale eVTOL prototype in 2024, targets first flight mid‑2025, and has ~2.8k non‑binding LOIs across 28 customers globally .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Embraer S.A. | Led Treasury, Insurance, Cash Mgmt, IR, M&A, Sales Finance globally | ~7 years | Built core finance functions supporting UAM carve‑out and Eve capital strategy |
| Morgan Stanley; Goldman Sachs | Sell‑side analyst (LatAm Transportation & Infrastructure) | 7+ years | Coverage and modeling expertise across transport/infrastructure value chains |
| Santander Asset Management | Portfolio Manager | 4 years | Buy‑side portfolio construction and risk management experience |
External Roles
No current external directorships or committee roles disclosed for Mr. Couto in the company’s proxy statements .
Fixed Compensation
Multi‑year summary of fixed and cash compensation (USD; FX conversions per company methodology):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $297,233 | $344,615 | $364,737 |
| Bonus ($) | $154,874 | — | — |
| Non‑Equity Incentive Plan Compensation ($) | $298,585 | $396,054 | $235,107 |
| Stock Awards ($) | — | $3,874,585 | $366,781 |
| All Other Compensation ($) | $30,336 | — | — |
| Total ($) | $781,028 | $4,615,254 | $966,625 |
Notes:
- Annual cash incentive bonuses are determined as base salary × short‑term incentive target × achievement level, based on individual and company goals; specific target % and metric weighting for the CFO are not disclosed .
Performance Compensation
- Annual Cash Incentive Structure (mechanics and payouts)
| Year | Target % | Metrics | Actual Payout ($) |
|---|---|---|---|
| 2022 | Not disclosed | Individual and company goals (not itemized) | $298,585 |
| 2023 | Not disclosed | Individual and company goals (not itemized) | $396,054 |
| 2024 | Not disclosed | Individual and company goals (not itemized) | $235,107 |
- Equity Awards and Vesting (unvested outstanding as of 12/31/2024)
| Grant date | Instrument | Shares/Units | Vesting terms | Market value at 12/31/2024 |
|---|---|---|---|---|
| Jan 27, 2023 | RSU (time‑based) | 12,735 | Vests 100% on May 9, 2025, service condition | $69,278 (12,735 × $5.44) |
| Jan 27, 2023 | Performance RSU (target) | 241,965 | Performance and service conditions; shown at target (100%) | $1,316,290 (241,965 × $5.44) |
| May 5, 2023 | RSU (time‑based) | 36,000 | Vests 100% on third anniversary (May 5, 2026), service condition | $195,840 |
| May 9, 2024 | RSU (time‑based) | 67,797 | Vests 100% on third anniversary (May 9, 2027), service condition | $368,816 |
- Program design
- Equity awarded under the 2022 Stock Incentive Plan; Eve currently does not grant stock options or option‑like instruments .
Equity Ownership & Alignment
- Beneficial ownership: Mr. Couto reported no shares of common stock beneficially owned as of April 2, 2025 (less than 1%); directors and officers as a group held ~0.26% . Similarly, no shares were reported as of April 3, 2024 and April 4, 2023 (less than 1%) .
- Vested vs. unvested: As of 12/31/2024, the awards listed above were unvested; no stock options are outstanding to the CFO (company program currently excludes options) .
- Pledging/hedging: Company policy prohibits hedging and pledging of Eve (and Embraer) securities by directors, officers and employees .
- Ownership guidelines: Director stock ownership guideline requires 5× annual cash retainer within five years; no executive officer stock ownership guideline is disclosed .
Employment Terms
- Agreement terms: The proxy discloses executive compensation program features (annual cash bonus eligibility and periodic RSU grants under the 2022 Plan) but does not provide a CFO‑specific employment agreement, severance, or change‑of‑control terms. CEO and a former Co‑CEO agreements are disclosed separately for context .
- Clawbacks: Eve maintains a clawback policy for cash and equity incentive compensation and adopted a supplemental SEC/NYSE‑compliant clawback in 2023 covering current and former Section 16 officers .
- Deferred compensation/pension: The company does not sponsor nonqualified deferred compensation or defined benefit pension plans for NEOs .
- 2022 Plan capacity/outstanding: 3,443,012 RSUs outstanding and 13,901,296 shares available for issuance under the 2022 Plan as of the proxy date; no options outstanding under the plan .
Related Party and Control Considerations (governance context)
- Controlled company: Embraer Aircraft Holding, Inc. beneficially owned ~82.8% as of April 2, 2025; Eve avails itself of NYSE controlled‑company exemptions .
- Compensation Committee composition: Not fully independent; includes a non‑independent member, as permitted under controlled‑company rules .
- Material related‑party agreements: Significant spend under Embraer MSAs ($82.8M in 2024; $68.9M in 2023), Atech MSA, and a Shared Services Agreement .
Performance & Track Record (company context during CFO tenure)
- Milestones: First full‑scale eVTOL prototype assembled in 2024; ground tests underway; first flight targeted mid‑2025 .
- Financial profile: FY2024 net loss $138.2M; cash consumption $141.2M; total liquidity $428.6M at year‑end 2024; management expects funding sufficient through 2026 .
- Commercial pipeline: ~2.8k eVTOL LOIs across diversified customer base and geographies; expanding Services & Support and Vector (Urban ATM) software LOIs .
Investment Implications
- Pay‑for‑performance alignment: With no disclosed executive stock ownership requirement and no reported common stock holdings, alignment relies on multi‑year RSUs (not options), including large 2023 performance‑based RSUs. This structure emphasizes retention (cliff vesting in 2025–2027) but provides limited immediate “skin‑in‑the‑game” via direct share ownership .
- Vesting‑driven supply events: Potential share supply upon vesting dates May 9, 2025 (12,735 time‑based), May 5, 2026 (36,000), and May 9, 2027 (67,797), plus any performance‑RSU conversions, subject to blackout and trading policies. Hedging/pledging is prohibited, reducing alignment risks associated with leverage .
- Governance and related‑party risk: Controlled‑company status and significant related‑party MSAs with Embraer constrain full independence of oversight; however, robust clawback and anti‑hedging/pledging policies mitigate conduct risk .
- Execution/financing: Pre‑revenue profile with defined milestones (flight tests; certification prototypes) and reported liquidity to 2026 heighten the importance of disciplined R&D spend, supplier payments, and facility investments—areas under CFO stewardship .
Appendix: Key Policies and Structural Notes
- Annual cash incentive plan formula and LTI program mechanics disclosed; specific CFO targets/weights not disclosed .
- No Form 4 insider trading records were found in the tool search for the period referenced, limiting visibility into insider buying/selling cadence. (Form 4s not returned in available dataset.)