Cannestra Anthony 4

What Happened Anthony Cannestra, a director of Blaize Holdings (BZAI), exercised 50,000 stock options on April 6, 2026 at an exercise price of $0.57 (cost $28,500) and sold 50,000 shares the same day for a weighted-average price of $1.75, generating proceeds of $87,500. The filing also reports a separate exercise/conversion of a derivative for 50,000 shares that is listed as a disposition with no cash amount shown.

Key Details

• Transaction date: April 6, 2026; Form 4 filed April 8, 2026 (timely filing).
• Option exercise: 50,000 shares exercised at $0.57 per share (total cost $28,500). (F1, F6)
• Open-market sale: 50,000 shares sold at a weighted-average price of $1.75 (total proceeds $87,500). Sales executed under a Rule 10b5-1 plan; prices in the sale ranged from $1.72 to $1.79. (F3, F4)
• Additional derivative entry: 50,000-share exercise/conversion reported as a derivative disposition with no price or cash amount disclosed.
• Holdings after transaction: the filing excerpt does not state the reporter’s total post-transaction holdings; footnote indicates certain earnout shares and unvested RSUs were moved to Table II and unchanged since the prior Form 4. (F2, F5–F9)
• 10b5-1 plan: exercise and sales were effected pursuant to a pre-established Rule 10b5-1 trading plan adopted December 11, 2025. (F1, F3)

Context The sequence—exercise of options followed by an immediate sale under a 10b5-1 plan—is a planned, pre-arranged transaction rather than an ad-hoc purchase or sale. For retail investors, planned sales under 10b5-1 are routine liquidity events for insiders and do not necessarily indicate a change in insider sentiment. The separate derivative conversion/disposition shows an additional movement of derivative-based shares but the filing provides no dollar amount for that entry.