Cannestra Anthony 4

What Happened
Anthony Cannestra, a director of Blaize Holdings, exercised 50,000 stock options on July 6, 2026 at an exercise price of $0.57 (cost $28,500) and sold 50,000 shares the same day in an open-market transaction for total proceeds of $67,500 (weighted average price $1.35). The filing also reports a related derivative conversion/disposition of 50,000 shares (no cash price reported) tied to merger-related securities/awards.

Key Details

• Transaction date: July 6, 2026; Form 4 filed July 8, 2026 (appears timely).
• Exercise: 50,000 options at $0.57 = $28,500 (per footnote F1 — executed under a Rule 10b5-1 plan).
• Sale: 50,000 shares sold at a weighted average $1.35 for $67,500 (prices ranged $1.33–$1.38; see F3). Sales also under the reporting person's 10b5-1 plan (F2).
• Derivative item: a reported disposition/conversion of 50,000 derivative shares with no price shown; related to merger-converted securities/earnout mechanics (see F5, F10).
• Option status: the option exercised was fully vested and exercisable (F4).
• Shares owned after the transactions: not specified in the provided excerpt.

Context
Because the exercise and sale occurred the same day and were made under an established 10b5-1 trading plan, this looks like a routine option exercise followed by an immediate sale (often termed a cashless exercise) rather than an open-market purchase that signals added insider conviction. The derivative/earnout footnotes (F5, F10) indicate some securities originated from the company’s prior merger and include contingent earnout shares that vest or convert only if stock-price targets and service conditions are met; those amounts can be adjusted for forfeitures.