Stardust Power (SDST) CFO Devasper Udaychandra Exercises RSUs, Sells Shares

What Happened

• Devasper Udaychandra, Chief Financial Officer of Stardust Power (SDST), had 8,245 restricted stock units (RSUs) convert to common shares on 2026-09-15 (reported as an exercise/conversion — Form 4 code M). Those 8,245 shares were then disposed (reported as derivative disposition, $0 proceeds), and an additional 3,726 shares were sold in the open market on 2026-09-16 at $0.14 per share for $531. The conversions reflect RSU vesting rather than a cash purchase.

Key Details

• Transaction dates/prices: 2026-09-15 conversion/acquisition 8,245 shares @ $0.00; 2026-09-15 derivative disposition of 8,245 shares @ $0.00; 2026-09-16 open-market sale of 3,726 shares @ $0.14 for $531.
• Filing date: Form 4 filed 2026-09-17 covering the 9/15–9/16 transactions.
• Shares owned after the transactions: not specified in the provided summary.
• Footnotes: F1 = each RSU converts to one common share on vesting. F2 = shares were sold/withheld to cover tax withholding obligations upon vesting/settlement. F3 = Reporting Person received 98,948 RSUs at the business combination; those RSUs vest quarterly over three years beginning July 8, 2024.
• Transaction codes: M = exercise/conversion of derivative (here, RSU settlement); S = open market sale; F (tax withholding) noted in footnote.

Context

• These entries look like routine RSU vesting and tax-related dispositions: RSUs converted into shares, some shares surrendered/withheld for taxes (derivative disposition at $0), and a small open-market sale generating modest proceeds (~$531). Such tax-withholding transactions are common following equity award vesting and do not by themselves indicate a change in insider confidence.