Aeluma (ALMU) Director Byron Michael Exercises 50,000 Options

What Happened Byron Michael, a director of Aeluma, exercised options on 2026-09-21. The Form 4 shows 25,000 shares were acquired at an exercise price of $5.93 per share (total cost $148,250) and an additional 25,000 shares were reported as disposed at $0.00 (derivative). Footnote F1 notes the options were fully vested. The combined transactions reflect the exercise/conversion of 50,000 option shares; 25,000 shares remained with the insider while 25,000 were surrendered/withheld.

Key Details

• Transaction date: 2026-09-21 (filed 2026-09-23)
• Acquired: 25,000 shares at $5.93 each — total $148,250
• Disposed: 25,000 shares at $0.00 (derivative surrender/withholding)
• Footnote: F1 — fully vested
• Shares owned after transaction: Not disclosed in the provided filing
• Filing timeliness: Filed two days after the transaction date (not marked as late in provided data)

Context

• For derivative/option activity: this filing indicates an option exercise. The zero-dollar disposal of 25,000 shares commonly reflects shares surrendered or withheld to cover exercise costs or taxes (a cashless/net settlement), but the filing itself does not state the precise reason.
• Purchases or option exercises (acquiring shares by paying an exercise price) are often viewed as more informative than routine dispositions; however, insider filings are descriptive, not explanatory — they do not state motivation.