SCHEDULE: Stardust Power CEO Roshen Pujari Adjusts Stake

Sentiment:

Beneficial Ownership Update 2 December 2025 4:05 PM

Roshen Pujari, CEO of Stardust Power Inc., reported a transfer of 31,819 shares, reducing his beneficial ownership to 21.23% of the company's common stock.

Summary

Roshen Pujari, CEO of Stardust Power Inc., filed an Amendment No. 4 to his Schedule 13D.
The filing reports a transfer of 31,819 shares of Common Stock on December 1, 2025.
These shares were previously held by Vikasa Clean Energy I L.P., an entity beneficially owned by Mr. Pujari.
The transfer was made to a certain limited partner for no additional consideration.
Following this transaction, Mr. Pujari's beneficial ownership stands at 2,084,220 shares, representing 21.23% of Stardust Power Inc.'s common stock.
Mr. Pujari disclaims beneficial ownership of the transferred shares.
No other transactions in Class A Common Stock were effected by the Reporting Person in the past 60 days.

Sentiment

Score: 5

Explanation: The filing reports a routine amendment to beneficial ownership, detailing a transfer of shares by the CEO to a limited partner for no consideration. This is an administrative adjustment rather than a significant positive or negative operational event for the company.

Negatives

A reduction in a significant insider's direct beneficial ownership, even if for no consideration and to a limited partner, could be perceived as a slight dilution of the insider's direct stake.

Future Outlook

Management Comments

"After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." (Signed by Roshen Pujari, Chief Executive Officer)

Industry Context

Related Party Transactions

The transfer of 31,819 shares from Vikasa Clean Energy I L.P. (beneficially owned by Roshen Pujari) to a "certain limited partner" for no additional consideration could be considered a related party transaction given the relationship between Mr. Pujari and the entity holding the shares.

Stakeholder Impact

Shareholders: A minor reduction in the CEO's direct beneficial ownership, potentially signaling a slight shift in control or investment structure, though the overall percentage remains significant.
Management: Roshen Pujari's direct beneficial ownership is slightly reduced, but he remains a significant shareholder and CEO.

Key Dates

Date	Description
2024-07-15	Original Schedule 13D filing date.
2025-09-30	End of the three months for which the Issuer's Quarterly Report on Form 10-Q was filed.
2025-11-12	Date as of which 9,817,809 shares of Common Stock were outstanding, as reported in the Issuer's Form 10-Q.
2025-11-13	Date the Issuer's Quarterly Report on Form 10-Q was filed with the SEC.
2025-12-01	Date of event requiring the filing of this statement; transfer of 31,819 shares by Roshen Pujari.
2025-12-02	Date of signing of this Amendment No. 4 to Schedule 13D.

Recommendation

hold

This filing details an administrative adjustment of beneficial ownership by the CEO, involving a transfer of shares to a limited partner for no consideration. It does not provide new information regarding the company's operational performance, financial health, or strategic direction. Therefore, based solely on this filing, there is no basis to change an existing investment stance. Investors should hold their position and await further operational or financial updates.

Keywords

Stardust Power Inc., Roshen Pujari, Schedule 13D/A, beneficial ownership, common stock, share transfer, insider ownership

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