Chairman David 4

What Happened

• David, SVP R&D at Valens Semiconductor, exercised stock options and sold the resulting shares on May 8, 2026. The filing shows he acquired 4,000 shares by exercising options at $0.86 per share (cost $3,440) and then sold 4,000 shares in an open-market sale at a weighted-average price of $2.54 per share (proceeds $10,172). A related derivative entry was reported at $0.00, reflecting the option disposition on exercise. Net proceeds before taxes and fees were roughly $6,732.

Key Details

• Transaction date: May 8, 2026; Form 4 filed May 11, 2026.
• Exercise: 4,000 shares, $0.86 per share, total $3,440 (code M = exercise/conversion of derivative).
• Sale: 4,000 shares, $2.54 weighted-average price, total $10,172 (code S = sale).
• Footnotes: sale was executed under a Rule 10b5-1 trading plan adopted Aug 16, 2024 (F1); shares sold were acquired upon exercise of options the same date (F2/F4/F5); reported sale price is a weighted average (F3).
• Shares owned after the transactions: not reported in the excerpt of the filing.

Context

• This was effectively a same-day exercise-and-sell (cashless-style) transaction: options were exercised to acquire shares and those shares were sold that same day. The presence of a 10b5-1 plan indicates the sale followed a pre-established trading schedule rather than an ad-hoc decision. The filing provides factual transaction details but does not indicate insider intent.