Form 4: Oklo Inc. Co-Founder and COO, Caroline Cochran, Reports Changes in Beneficial Ownership Following Business Combination
SEC Form 4
Caroline Cochran, Co-Founder and COO of Oklo Inc., reports changes in beneficial ownership of Class A Common Stock and Earnout Rights following the company's business combination.
Summary
- Caroline Cochran, Co-Founder and COO of Oklo Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
- The changes result from the business combination between AltC Acquisition Corp. and Oklo Inc., completed under the Merger Agreement dated July 11, 2023.
- Cochran directly owns 10,911,600 shares of Class A Common Stock.
- She indirectly owns 11,190,452 shares of Class A Common Stock through her spouse, Jacob DeWitte.
- Cochran directly owns 2,012,162 Earnout Rights.
- She indirectly owns 2,063,583 Earnout Rights through her spouse, Jacob DeWitte.
- These Earnout Rights are contingent upon the Issuer's Class A Common Stock reaching certain price thresholds or a Change in Control event.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. However, the increase in ownership could be seen as a positive sign of confidence in the company's future.
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
This filing is a routine part of the regulatory requirements following a business combination, providing transparency into the ownership structure of the newly formed entity. It is common for executives and significant shareholders to report changes in their holdings after such events.
Stakeholder Impact
- Shareholders are informed about the ownership structure of the company.
- Employees may be interested in the ownership stake of key executives.
- The filing provides transparency to the market regarding insider holdings.
Key Dates
| Date | Description |
|---|---|
| July 11, 2023 | Date of the Merger Agreement between AltC Acquisition Corp. and Oklo Inc. |
| May 09, 2024 | Date of the transaction reported in the Form 4. |
| May 13, 2024 | Date of signature of the Form 4 filing. |
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