Form 4: Stardust Power CFO Udaychandra Devasper Reports Stock Sales to Cover Tax Obligations

Udaychandra Devasper, CFO of Stardust Power Inc., reports the sale of common stock to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).

Summary

• Udaychandra Devasper, the CFO of Stardust Power Inc., filed a Form 4 detailing transactions involving the company's common stock and Restricted Stock Units (RSUs).
• On March 11, 2025, and March 12, 2025, Devasper exercised 82,457 RSUs on each day, converting them into common stock.
• Simultaneously, Devasper sold shares of common stock on both days to cover tax withholding obligations associated with the vesting of these RSUs.
• On March 11, 2025, 35,000 shares were sold at a price of $0.60 per share.
• On March 12, 2025, 39,100 shares were sold at a weighted average price of $0.6013, with prices ranging from $0.60 to $0.62.
• These sales were executed under a Rule 10b5-1 trading plan adopted on November 27, 2024.
• Following these transactions, Devasper directly owns 295,741 shares of common stock and 659,654 RSUs.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a routine transaction related to insider stock activity for tax purposes and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. The sale of shares to cover tax obligations is a common practice.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely minimal given the relatively small volume of shares sold.

Key Dates