Form 4: Bolt Projects Holdings Insider, David Breslauer, Reports Acquisition of Shares and Options Following Merger
SEC Form 4
David Nate Breslauer, Chief Technology Officer of Bolt Projects Holdings, reports acquiring shares and options as a result of the merger with Golden Arrow Merger Corp.
Summary
- David Nate Breslauer, the Chief Technology Officer of Bolt Projects Holdings, filed a Form 4 detailing changes in his beneficial ownership.
- The filing is triggered by the merger between Golden Arrow Merger Corp. and Bolt Threads, Inc., now Bolt Projects Holdings, Inc., which occurred on August 13, 2024.
- Breslauer acquired 286,616 shares of common stock directly and 783,355 shares indirectly through the David N. Breslauer Family Trust.
- He also acquired options to purchase common stock at various exercise prices: 22,117 options at $4.38, 14,744 options at $12.14, 7,372 options at $21.50, and 11,795 options at $20.86.
- These options are fully vested and exercisable.
- The acquisition of shares and options is a result of the conversion of Old Bolt Threads stock and restricted stock units into Bolt Projects Holdings stock and restricted stock units at a ratio of approximately 0.29489 per share.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. The sentiment is neither positive nor negative.
Positives
- The acquisition of shares and options by a key executive could be seen as a positive sign, indicating confidence in the company's future.
Industry Context
Form 4 filings are standard practice when insiders of publicly traded companies have transactions in the company's stock. This filing provides transparency to investors regarding the ownership stake of key personnel.
Stakeholder Impact
- Shareholders gain insight into the ownership changes of a key executive.
Key Dates
| Date | Description |
|---|---|
| October 4, 2023 | Date of the Business Combination Agreement between Golden Arrow Merger Corp., Beam Merger Sub, Inc., and Bolt Threads, Inc. |
| July 2, 2024 | First anniversary for vesting of restricted stock units. |
| August 13, 2024 | Date of the merger between Golden Arrow Merger Corp. and Bolt Threads, Inc., resulting in Bolt Projects Holdings, Inc. |
| August 13, 2024 | Date of the transactions reported in the Form 4. |
| August 15, 2024 | Date of the Form 4 filing. |
| March 26, 2025 | Expiration date for some of the options acquired. |
| April 20, 2027 | Expiration date for some of the options acquired. |
| March 30, 2028 | Expiration date for some of the options acquired. |
| September 27, 2030 | Expiration date for some of the options acquired. |
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