Chao Xingjuan 4

What Happened
Chao Xingjuan, Ceribell’s President, CEO and a director, exercised stock options and sold shares on February 4, 2026. She exercised a total of 25,000 shares of options at $4.70 per share (cost $117,500) and sold a total of 39,000 shares in open-market transactions at a weighted average price of $20.16 per share, generating aggregate proceeds of about $786,240. The filing also shows derivative dispositions reported at $0 for the exercised share amounts (see Key Details).

Key Details

• Transaction date (reporting period): February 4, 2026; Form 4 filed February 6, 2026 (timely filing).
• Option exercises: 1,446 shares and 23,554 shares acquired at $4.70 each (total cost $117,500).
• Open-market sales: 14,000, 1,446 and 23,554 shares sold at a weighted average price of $20.16 (range $19.87–$20.61), total proceeds ≈ $786,240.
• Additional entries: two derivative dispositions reported at $0 for 1,446 and 23,554 shares (these entries commonly reflect net settlement or share surrender related to option exercises/tax withholding).
• Plan/insider notes: Sales were effected under a Rule 10b5-1 trading plan adopted Sept 12, 2025 (Footnote F1). Vesting schedules for relevant options are noted in the filing (monthly vesting from April 1, 2023 — Footnotes F5/F6).
• Beneficial ownership notes: Reporting person is co-trustee of ACP 2021 Trust and disclaims beneficial ownership except for pecuniary interest (Footnotes F3/F4).
• Shares owned after transaction: Not specified in the excerpt of the filing provided here.

Context
Because the exercises and sales occurred the same day, this effectively realized the spread between the $4.70 exercise price and the ~$20.16 sale price (a common pattern when insiders exercise options and then sell shares to capture gains). The presence of a 10b5-1 plan indicates the sales were pre-arranged under a trading plan. This is routine insider liquidity and is factual reporting of transactions, not an indication of company performance or insider sentiment.