SCHEDULE: Stardust Power Inc. Shareholder Filing Update

Pablo Cortegoso's Schedule 13D filing reveals a 6.29% stake in Stardust Power Inc. following recent stock unit grants and sales.

Summary

• This filing is an amendment (Amendment No. 2) to a previously filed Schedule 13D, originally submitted on July 15, 2024.
• Pablo Cortegoso, Chief Technical Officer of Stardust Power Inc., is the reporting person.
• Cortegoso beneficially owns 626,916 shares of Stardust Power Inc. Common Stock, representing 6.29% of the class.
• This percentage is calculated based on 9,966,473 shares of Common Stock outstanding as of March 24, 2026, as reported in the company's Form 10-K for the year ended December 31, 2025.
• On March 20, 2026, Cortegoso received a grant of 130,909 fully vested restricted stock units.
• On the same date, March 20, 2026, Cortegoso sold 290 shares to cover tax withholding obligations.
• No other transactions in the Common Stock have been effected by the reporting person in the past 60 days.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily an administrative update on beneficial ownership and recent stock transactions without significant new strategic information or performance indicators.

Positives

• Pablo Cortegoso's beneficial ownership of 6.29% of Stardust Power Inc. indicates significant alignment with the company's performance.
• The grant of 130,909 fully vested restricted stock units on March 20, 2026, suggests a form of executive compensation or incentive tied to the company's value.

Negatives

• The sale of 290 shares to cover tax withholding obligations, while standard, represents a minor reduction in direct shareholding.

Risks

• The filing does not explicitly mention any new risks or challenges.
• The reliance on the company's Form 10-K for outstanding share count implies that any inaccuracies in that report could affect the reported percentage of ownership.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from the company. It primarily updates beneficial ownership information.

Management Comments

• "The percent of class is calculated based on the 9,966,473 shares of Common Stock outstanding as of March 24, 2026, as reported in the Issuer's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on March 25, 2026."
• "This Amendment No. 2 (this "Statement") amends and supplements the Schedule 13D, originally filed on July 15, 2024 (the "Schedule 13D") relating to the Common Stock of the Issuer."
• "Except as set forth herein, the Schedule 13D remains in full force and effect."
• "Each capitalized term used but not defined herein has the meaning ascribed to such term in the Schedule 13D."
• "On March 20, 2026, the Reporting Person received a grant of 130,909 fully vested restricted stock units, and on the same date, sold 290 shares to cover tax withholding obligations."
• "Except as described above, the Reporting Person has not effected any transactions in the Common Stock in the past 60 days."
• "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."

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for tracking significant changes in beneficial ownership of public companies, often indicating shifts in investor sentiment or strategic intentions within the energy sector.

Stakeholder Impact

• Shareholders: The filing provides transparency on a significant shareholder's holdings, which can influence market perception. The grant of RSUs may indicate management's confidence or incentive alignment.
• Employees: The grant of restricted stock units to a key executive (Chief Technical Officer) can be seen as a positive signal for employee morale and alignment with company success.
• Management: The filing confirms the continued significant stake and role of Pablo Cortegoso.

Next Steps

• Continue to monitor future Schedule 13D filings for any further changes in beneficial ownership by Pablo Cortegoso or other significant shareholders.
• Review Stardust Power Inc.'s upcoming financial reports and disclosures for operational and strategic updates.

Key Dates

Keywords

Stardust Power Inc., Schedule 13D, Beneficial Ownership, Pablo Cortegoso, Restricted Stock Units, Common Stock, SEC Filing, Shareholder