Form 4: Movano CTO Sells Shares After Option Exercise

Movano Inc.'s Chief Technology Officer, Michael Aaron Leabman, exercised stock options and subsequently sold a portion of the shares to cover taxes and exercise costs.

Summary

• Michael Aaron Leabman, Movano Inc.'s Chief Technology Officer and Director, exercised stock options for 42,250 shares of common stock at an exercise price of $1.25 per share on January 6, 2026.
• Following the exercise, Mr. Leabman sold a total of 7,669 shares of common stock between January 7 and January 9, 2026.
• The sales were conducted at weighted average prices ranging from $7.26 to $7.34 per share.
• These sales were made to cover withholding taxes and the exercise prices associated with the stock option awards.
• The option award was granted in lieu of cash salary during 2025 and became exercisable upon shareholder approval of an amendment to the Omnibus Incentive Plan on December 16, 2025.
• After these transactions, Mr. Leabman beneficially owns 34,937 shares of common stock directly.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While there is insider selling, it is explicitly for tax and exercise cost coverage, which is a routine event for equity compensation. The exercise of options at a significantly lower price than the sale price indicates a positive view on the stock's value by the insider at the time of exercise.

Positives

• The exercise of stock options indicates the insider sees value in the company's stock above the exercise price.
• Shareholder approval of the Omnibus Incentive Plan amendment on December 16, 2025, supports the company's compensation strategy.

Negatives

• Insider selling, even if for tax purposes, reduces the insider's direct stake in the company.

Future Outlook

NA

Management Comments

• Shares were sold to pay withholding taxes and exercise prices due in connection with the exercise of stock option awards granted to the reporting person in lieu of cash salary during 2025.

Industry Context

NA

Corporate Governance

Stakeholder Impact

• Shareholders: The exercise of options and subsequent sale of shares results in a minor increase in the outstanding share count (from the option exercise) and a reduction in the insider's direct ownership, which could be perceived negatively by some, though the reason for sale is routine.
• Employees (specifically the reporting person): The transaction represents the realization of value from equity compensation, which serves as an incentive and reward for performance.

Key Dates

Keywords

Movano Inc., MOVE, Insider Trading, Form 4, Stock Options, Executive Compensation, Michael Aaron Leabman, CTO, Share Sale, Beneficial Ownership