Chairman David 4

What Happened

• David, an SVP in R&D at Valens Semiconductor (VLN), exercised 5,616 stock options on 2026-04-15 and sold all 5,616 underlying shares the same day.
• Exercise cost reported: $0.86 per share (total $4,830). Sales: 4,000 shares at $1.46 ($5,854) and 1,616 shares at $1.49 ($2,409), total proceeds about $8,263.
• This is effectively an exercise-and-sell transaction (shares were acquired by exercising options and then sold), which is commonly routine rather than a directional buy signal.

Key Details

• Transaction date: 2026-04-15; Form filed: 2026-04-16 (timely filing).
• Options exercised: 5,616 shares at $0.86 (total exercise cost $4,830).
• Shares sold: total 5,616 shares (4,000 @ $1.46; 1,616 @ $1.49) for combined proceeds ≈ $8,263.
• Footnotes: sales were made under a Rule 10b5-1 trading plan adopted Aug 16, 2024 (F1); shares sold were acquired upon exercise on the same date (F2–F5); reported prices include a weighted-average note (F4).
• Shares owned after the transaction: not specified in the information provided on this Form 4.

Context

• Because the exercised options and sale occurred the same day, this is an exercise-and-sell (cashless-style) transaction — the insider exercised options and immediately sold the resulting shares.
• The sales were executed under a pre-established 10b5-1 plan, which typically means the trades were automated/planned in advance and not ad hoc market-timing decisions.
• These routine option exercises and planned sales are common for insiders and do not, by themselves, indicate a change in the insider’s view of the company.