Form 4: Steven Chu Reports Option Assumption Following Amprius Technologies Liquidation

Director Steven Chu reports the assumption of stock options following the liquidation and dissolution of Amprius, Inc. and distribution of shares of Amprius Technologies, Inc.

Summary

• Steven Chu, a director of Amprius Technologies, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing reports the assumption of stock options previously held in Amprius, Inc. ('Amprius Holdings') following its liquidation and dissolution.
• Amprius Holdings distributed 57,195,926 shares of Amprius Technologies' common stock to its stockholders on a pro rata basis.
• As part of the liquidation, Amprius Technologies assumed Amprius Holdings' outstanding options to purchase shares of Amprius Holdings' Class A common stock.
• Chu received options to purchase 173,554 shares of Amprius Technologies' common stock at an exercise price of $0.78, exercisable from 09/26/2034.
• Chu also received options to purchase 173,554 shares of Amprius Technologies' common stock at an exercise price of $0.62, exercisable from 12/12/2027.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing related to corporate restructuring. It doesn't contain overtly positive or negative information, hence a neutral sentiment score.

Positives

• The option assumption ensures continuity for option holders following the liquidation of Amprius Holdings.
• The options are fully vested, providing immediate potential benefit to the holder.

Industry Context

This filing reflects corporate restructuring activity within Amprius Technologies, potentially driven by strategic decisions to streamline operations or optimize capital structure. The assumption of stock options is a common practice in such scenarios to maintain employee incentives and shareholder value.

Stakeholder Impact

• Shareholders of Amprius Technologies are indirectly affected by the liquidation of Amprius Holdings and the subsequent option assumption.
• Employees holding options in Amprius Holdings now have options in Amprius Technologies, maintaining their equity incentive.

Key Dates