Form 4: Cepton Inc. Executive Disposes of Shares and Options Following Merger Completion

Cepton Inc.'s Interim CFO, Dong Chang, reports the disposal of shares and options following the completion of the merger with KOITO MANUFACTURING CO., LTD.

Summary

• Dong Chang, Interim CFO of Cepton Inc., has filed a Form 4 detailing the disposal of his shares and stock options.
• The transactions occurred on January 7, 2025, following the merger of Cepton with KOITO MANUFACTURING CO., LTD.
• Chang disposed of 3,324 common shares and 54,945 restricted stock units (RSUs) at a price of $3.17 per share.
• His stock options were canceled in exchange for a cash payment, which was $0.00 as the exercise price exceeded the merger price of $3.17.
• The merger resulted in the cancellation of all outstanding common stock and RSUs, which were converted into the right to receive $3.17 in cash per share.

Sentiment

Score: 5

Explanation: The document is a neutral report of transactions following a merger, with no inherent positive or negative sentiment.

Future Outlook

The document does not contain any forward-looking statements, as it primarily reports on the completion of the merger.

Industry Context

This filing reflects the completion of a merger, a common event in corporate finance, and indicates the finalization of the acquisition of Cepton Inc. by KOITO MANUFACTURING CO., LTD.

Comparison to Industry Standards

• Mergers and acquisitions are a common occurrence in the technology sector, particularly for companies seeking to expand their market reach or integrate complementary technologies.
• The valuation of $3.17 per share is specific to this transaction and would need to be compared to other similar acquisitions in the lidar or automotive technology space to assess its fairness.
• The cancellation of stock options with no payout when the exercise price is above the merger price is a standard practice in M&A transactions.

Stakeholder Impact

• Shareholders received $3.17 per share in cash as a result of the merger.
• Employees holding stock options with an exercise price above $3.17 did not receive any cash payment for those options.

Key Dates

Keywords

Merger, Form 4, Cepton Inc., KOITO MANUFACTURING CO., LTD., Stock Options, Restricted Stock Units, Insider Trading, Beneficial Ownership, Dong Chang