Form 4: Oklo Inc. CEO Jacob DeWitte Reports Changes in Beneficial Ownership Following Business Combination

CEO Jacob DeWitte reports changes in beneficial ownership of Oklo Inc. Class A Common Stock and Earnout Rights following the company's business combination.

Summary

• Jacob DeWitte, CEO of Oklo Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The changes are a result of the business combination between AltC Acquisition Corp. and Oklo Inc., completed under the Merger Agreement dated July 11, 2023.
• DeWitte directly owns 11,190,452 shares of Class A Common Stock.
• He also indirectly owns 10,911,600 shares through his spouse, Caroline Cochran.
• DeWitte directly holds 2,063,583 Earnout Rights, each representing a contingent right to receive one share of Class A Common Stock upon meeting certain price thresholds or a change in control.
• His spouse, Caroline Cochran, indirectly holds 2,012,162 Earnout Rights.
• The Earnout Shares may be issued in three separate tranches based on the closing sale price of Class A Common Stock or a Change in Control of the Issuer.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting changes in ownership. It doesn't inherently indicate positive or negative sentiment.

Future Outlook

The Earnout Shares may be issued in three separate tranches based upon (A) the closing sale price of one share of the Issuer's Class A Common Stock for any twenty trading days within any sixty consecutive trading day period within the five-year period following the closing of the Issuer's business combination or (B) if the Issuer undergoes a Change in Control (as defined in the Merger Agreement), the price per share received by stockholders of the Issuer in such Change in Control transaction.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company securities, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• It informs stakeholders about the potential future issuance of Earnout Shares based on performance metrics.

Key Dates