SCHEDULE: Stardust Power CEO Roshen Pujari Reports Significant Beneficial Ownership Adjustments

Stardust Power Inc.'s CEO, Roshen Pujari, has reported a beneficial ownership of 35.1% of the company's common stock following recent transfers of shares to trusts and limited partners, and a sale to cover tax obligations.

Summary

• Roshen Pujari, Chief Executive Officer of Stardust Power Inc., beneficially owns 21,144,284 shares of Common Stock, which represents 35.1% of the class.
• This beneficial ownership percentage is calculated based on 60,160,804 shares of Common Stock outstanding as of May 13, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 14, 2025.
• On June 16, 2025, 9,350 shares of Common Stock were sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units, pursuant to a Rule 10b5-1 trading plan adopted on November 29, 2024.
• On June 18, 2025, 103,817 shares of Common Stock, previously held by Vikasa Clean Energy I L.P. and beneficially owned by the Reporting Person, were transferred for no additional consideration to certain limited partners.
• On July 10, 2025, 5,250,000 shares of Common Stock were transferred for no consideration to irrevocable trusts established for the benefit of the Reporting Person's child.
• Following these transfers, the Reporting Person has ceased to have voting or dispositive power over the transferred shares and specifically disclaims beneficial ownership thereof.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership changes and does not contain information that would significantly alter the perceived sentiment towards the company's operational or financial prospects. The transfers are primarily personal financial planning events for the CEO.

Negatives

• The CEO, Roshen Pujari, has significantly reduced his direct beneficial ownership through transfers of 5,250,000 shares to irrevocable trusts for his child and 103,817 shares to limited partners, which could be perceived as a decrease in his direct personal stake in the company's future performance.
• A sale of 9,350 shares occurred to cover tax withholding obligations, which, while a standard practice for RSU vesting, represents a reduction in the CEO's direct shareholding.

Future Outlook

No forward-looking statements or guidance regarding the company's operations or financial performance are provided.

Management Comments

• "After giving effect to such transfers, the Reporting Person ceased to have voting or dispositive power such the shares of Common Stock held by the trust and limited partners and, accordingly, specifically disclaims beneficial ownership thereof."

Industry Context

This filing is a standard regulatory disclosure of beneficial ownership changes by a key insider and does not provide information related to broader industry trends or competitive landscape.

Related Party Transactions

• Transfer of 5,250,000 shares of Common Stock for no consideration to irrevocable trusts for the benefit of the Reporting Person's child.

Stakeholder Impact

• Shareholders: Provides transparency regarding the beneficial ownership stake of the CEO and significant changes in his direct holdings, which can influence investor perception of insider commitment.

Key Dates

Keywords

Stardust Power Inc., Roshen Pujari, Beneficial Ownership, Common Stock, Schedule 13D, Share Transfer, CEO, Equity Stake, SEC Filing, Corporate Governance