Aurora (AUR) Director Michelangelo Volpi Sells 2.84M Shares

What Happened Michelangelo Volpi, a director of Aurora Innovation, converted derivative/Class B shares into Class A common stock and sold a total of 2,842,682 shares in open-market transactions on August 17, 2026. The sales generated aggregate proceeds of $19,909,576 (reported as $19,610,941 for 2,800,043 shares and $298,635 for 42,639 shares). The conversion entries were recorded at $0 (i.e., no cash paid on conversion), and the subsequent sales were executed in multiple trades.

Key Details

• Transaction date: 2026-08-17 (reported on Form 4 filed 2026-08-19). No late filing indicated in the provided data.
• Sales: 2,800,043 shares for $19,610,941 and 42,639 shares for $298,635; total 2,842,682 shares for $19,909,576.
• Price: Column 4 shows a weighted average of $7.00; the filing notes individual trade prices ranged from $7.00 to $7.11 (Reporting Person can provide breakdown on request).
• Conversion: Derivative/Class B shares were converted into Class A shares (conversion entries recorded at $0.00) immediately prior to sale.
• Shares owned after transaction: Not specified in the excerpt provided.
• Relevant footnotes: F1 (Class B converts to Class A one-for-one under the charter); F2/F4 (portions held by Index Ventures Growth III and Yucca co-investment vehicle — Reporting Person disclaims beneficial ownership except to extent of pecuniary interest); F5 (some shares held in The M. Volpi 2025 GRAT).

Context

• The filing shows conversions of convertible/derivative securities followed by immediate open-market sales (i.e., conversion then disposition). Such conversions are different from option exercises but have similar mechanics when shares are issued on conversion and sold.
• Dispositions disclosed here are factual transactions and the filing does not state the Reporting Person's motivations. Several shares are held through investment vehicles and a grantor trust, and the Reporting Person disclaims beneficial ownership of fund-held shares except for any pecuniary interest.