Form 4: Stardust Power Director Receives Restricted Stock Units and Updates Power of Attorney

Sudhindra Kankanwadi, a director of Stardust Power, Inc., received 9,425 restricted stock units (RSUs) and updated his power of attorney for SEC reporting obligations.

Summary

• Sudhindra Kankanwadi, a director of Stardust Power, Inc., was granted 9,425 restricted stock units (RSUs) on September 16, 2024, which were reported on September 18, 2024.
• Each RSU represents the right to receive one share of Stardust Power common stock, contingent upon continued service on the board through the 2025 annual general meeting or June 15, 2025, whichever is earlier.
• Kankanwadi also updated his power of attorney, appointing Roshen Pujari and Udaychandra Devasper to handle SEC filings related to Sections 13 and 16 of the Securities Exchange Act of 1934.
• The power of attorney grants the attorneys-in-fact the authority to execute Schedule 13D, Schedule 13G, Forms 3, 4, and 5 on Kankanwadi's behalf.

Sentiment

Score: 7

Explanation: The document indicates standard executive compensation practices and compliance with SEC regulations, suggesting a stable and well-managed company. The sentiment is neutral to positive.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• The updated power of attorney ensures timely compliance with SEC reporting requirements.

Future Outlook

The director's continued service on the board is tied to the vesting of the RSUs, suggesting a commitment to the company's future.

Industry Context

Grants of restricted stock units are a common practice to incentivize and retain key personnel, aligning their interests with those of the company's shareholders. This is especially common in growth-oriented companies.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's performance.
• The updated power of attorney ensures compliance with SEC regulations, which benefits all stakeholders.

Next Steps

• The RSUs will vest upon continued service on the board through the 2025 annual general meeting or June 15, 2025.
• Roshen Pujari and Udaychandra Devasper will handle future SEC filings on behalf of Sudhindra Kankanwadi.

Key Dates