Form 4: Stardust Power CEO Sells Shares to Cover Tax Obligations Under Pre-Arranged Plan

Roshen Pujari, CEO and Chairman of Stardust Power Inc., sold 9,350 shares of common stock for tax withholding purposes, as part of a pre-established Rule 10b5-1 trading plan.

Summary

• Roshen Pujari, the CEO and Chairman of Stardust Power Inc. (SDST), reported a transaction involving the sale of common stock.
• On June 16, 2025, Mr. Pujari disposed of 9,350 shares of Stardust Power Inc. common stock.
• The shares were sold at a price of $0.5303 per share.
• This sale was conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs).
• The transaction was executed pursuant to a Rule 10b5-1 trading plan, which was adopted on November 29, 2024.
• Following this transaction, Roshen Pujari directly beneficially owns 8,901,063 shares of common stock.
• Additionally, Mr. Pujari indirectly beneficially owns 17,826,774 shares through various entities: 4,652,864 shares held by Energy Transition Investors LLC, 10,872,790 shares held by 7636 Holdings LLC, 1,840,896 shares held by VIKASA Clean Energy I LP, and 460,224 shares held by Maggie Clayton.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it involves an insider sale, the reason (tax withholding from RSU vesting) and the execution under a 10b5-1 plan make it a routine, non-discretionary event. The CEO retains a very substantial beneficial ownership, which is a positive indicator of continued alignment.

Positives

• The sale was for a non-discretionary purpose (tax withholding obligations), which is a common and expected event for executives receiving equity compensation.
• The transaction was conducted under a pre-established Rule 10b5-1 trading plan, indicating a planned and non-opportunistic sale.
• Despite the sale, the CEO retains a substantial beneficial ownership of 26,727,837 shares (8,901,063 direct + 17,826,774 indirect), demonstrating continued alignment with shareholder interests.

Negatives

• The transaction represents a reduction in the CEO's direct beneficial ownership of common stock by 9,350 shares.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sale represents sales to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units ('RSUs') pursuant to a Rule 10b5-1 trading plan adopted on November 29, 2024.

Industry Context

This Form 4 filing details an insider transaction specific to Stardust Power Inc. and does not provide information on broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, but the sale is for a routine tax purpose and does not signal a lack of confidence. The CEO's overall beneficial ownership remains very high.
• Employees: The RSU vesting implies compensation for the CEO, which is a standard practice for executive remuneration.

Key Dates

Keywords

Stardust Power Inc., SDST, Roshen Pujari, Form 4, Insider Trading, Stock Sale, Tax Withholding, Restricted Stock Units, RSUs, Rule 10b5-1 Plan, Beneficial Ownership, CEO, Chairman