Form 4: SES AI CSO Sells Shares After Option Exercise

SES AI Corp's Chief Science Officer, Gan Hong, exercised stock options and subsequently sold a total of 250,000 Class A Common Stock shares in late January 2026.

Summary

• Gan Hong, Chief Science Officer of SES AI Corp, reported transactions involving the exercise of stock options and the subsequent sale of Class A Common Stock.
• On January 22, 2026, 150,000 stock options were exercised at a price of $0.16 per share.
• Immediately following the exercise on January 22, 2026, 150,000 shares of Class A Common Stock were sold at a weighted average price of $2.4959 per share, with prices ranging from $2.48 to $2.53.
• On January 23, 2026, an additional 100,000 stock options were exercised at a price of $0.16 per share.
• Concurrently on January 23, 2026, 100,000 shares of Class A Common Stock were sold at a weighted average price of $2.5032 per share, with prices ranging from $2.48 to $2.56.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan that the Reporting Person entered into on August 14, 2025.
• Following these reported transactions, Gan Hong directly beneficially owns 1,253,286 shares of Class A Common Stock, which includes 852,222 shares underlying restricted stock units subject to forfeiture until they vest.
• The Reporting Person also directly holds 929,832 stock options (right to buy) with an exercise price of $0.16, which were fully vested on February 10, 2021.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, these transactions were executed under a pre-arranged Rule 10b5-1 plan, which suggests personal financial planning and diversification rather than a reaction to undisclosed negative company information. The officer realized a significant gain from long-held options.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 plan, indicating a structured approach to personal financial management rather than a reaction to immediate company news.
• The Chief Science Officer realized a significant gain by exercising options at a low price of $0.16 and selling shares at approximately $2.50.

Negatives

• Insider selling, even when conducted under a 10b5-1 plan, can sometimes be interpreted by the market as a negative signal, potentially impacting investor sentiment.

Risks

• Potential negative market perception due to insider selling, which could lead to short-term downward pressure on the company's stock price.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may interpret the insider selling as a negative signal, potentially leading to short-term price volatility, although the context of a Rule 10b5-1 plan should temper such concerns.

Key Dates

Recommendation

A Form 4 filing primarily reports insider transactions and does not typically provide sufficient information to fundamentally alter an investment thesis. While insider selling can sometimes be a negative signal, these transactions were executed under a pre-arranged 10b5-1 plan, suggesting personal financial planning and diversification rather than a reaction to new, undisclosed negative company information. Investors should consider this in the broader context of the company's financial performance and strategic outlook.

Keywords

SES AI Corp, SES, Form 4, insider transaction, stock options, share sale, beneficial ownership, Rule 10b5-1, Chief Science Officer, Gan Hong, equity transaction