SIEBEL THOMAS M 4

What Happened

• Thomas M. Siebel, a 10% owner of C3.ai (AI), exercised stock options and immediately sold the resulting shares in mid‑May 2026. On May 15 he exercised 369,624 shares at $2.04 ($754,033) and sold those shares at a weighted average of $8.72 for $3,223,121. On May 18 he exercised 112,014 shares at $2.04 ($228,509) and sold them at a weighted average of $8.65 for $968,921.
• Combined, Siebel sold 481,638 shares for total gross proceeds of $4,192,042. The exercise cost was $982,542, implying approximate net proceeds before taxes/fees of $3,209,500. The filing shows the derivative positions were converted/terminated as part of the exercises.

Key Details

• Dates & prices:
  • 2026-05-15: exercised 369,624 @ $2.04; sold same 369,624 at weighted avg $8.72 (sales ranged $8.62–$8.93).
  • 2026-05-18: exercised 112,014 @ $2.04; sold same 112,014 at weighted avg $8.65 (sales ranged $8.34–$8.81).
• Total sold: 481,638 shares; gross proceeds ≈ $4.19M; exercise cost ≈ $982.5K; net before taxes/fees ≈ $3.21M.
• Transactions were effected pursuant to a Rule 10b5‑1 trading plan dated Sept 20, 2024 (pre‑arranged plan). The filing was submitted on 2026-05-19 (within the required two business days), so it appears timely.
• Footnotes indicate the shares are held through various trusts/entities of which he is trustee/chairman/general partner (see filing). All options exercised were fully vested.

Context

• This was a cashless outcome of option exercises followed by immediate open‑market sales (exercise then sale), a common way insiders realize value from vested derivatives. Because the trades were under a 10b5‑1 plan, they were pre‑scheduled and not necessarily a contemporaneous signal of insider sentiment.
• As a 10% owner rather than a current corporate officer, Siebel’s trades reflect transactions by a major shareholder and controller-related entities rather than routine employee compensation sales.