SIEBEL THOMAS M 4

What Happened

• Thomas M. Siebel (reported as a 10% owner) exercised/converted derivatives to acquire 6,166,667 shares at $11.16 per share (cash paid ≈ $68,820,004) and converted an additional 32,736 RSUs into shares. He then sold 17,350 shares in the open market for a weighted-average price of $11.32 (proceeds ≈ $196,402). He also reported a gift/transfer of 6,182,053 shares (reported as disposed by Siebel and acquired by related parties/trusts) with no cash proceeds. The filing shows the RSUs were fully vested.

Key Details

• Transaction dates: June 1–3, 2026. Form filed June 3, 2026 (appears timely).
• Major exercises: 6,166,667 shares @ $11.16 (total ≈ $68.82M); 32,736 RSU conversions (no cash).
• Open-market sale: 17,350 shares at weighted-average $11.32 (range $11.22–$11.435) — proceeds ≈ $196,402. The issuer withheld and sold shares to satisfy RSU tax withholding obligations (issuer sale/tax withholding).
• Gift/transfer: 6,182,053 shares reported as gifts (no proceeds); filing also shows same number acquired by related trusts/entities.
• Holdings after transaction: Not specified in this Form 4.
• Reporting status: Siebel is a 10% owner; many shares are held in trusts and entities where he serves as trustee/chairman/general partner (see footnotes).

Context

• Exercise/conversion (code M) means derivative instruments were converted into common stock; one set of conversions appears tied to RSUs (F1, F11) and vested awards. The sale of 17,350 shares was used to satisfy tax withholding on vested RSUs (issuer withheld and sold shares).
• The large gift/transfer entries do not necessarily reflect market sentiment — they often represent estate planning or transfers among related trusts/vehicles.
• As a 10% owner, Siebel’s transactions are Section 16 filings required for large holders (these are disclosures of ownership changes, not recommendations).