Frichtl Mark 4

What Happened

• Mark Frichtl, Chief Technology Officer of Ouster, exercised options and sold the resulting shares on March 25, 2026. He exercised 40,000 option shares at $2.13 per share (cost $85,200) and sold 40,000 shares in the open market at a weighted average price of $20.94 per share (gross proceeds $837,576). The exercised shares were sold the same day (effectively a cashless exercise/sale). The filing also lists a 40,000-share disposition at $0 in connection with the exercise/conversion of a derivative; the filing does not detail the nature of that $0 transaction.
• Simple math: gross sale proceeds ~$837,576 minus exercise cost $85,200 = ~$752,376 before taxes and fees.

Key Details

• Transaction date: 2026-03-25.
• Exercise: 40,000 shares @ $2.13 (total $85,200).
• Sale: 40,000 shares @ weighted avg $20.94 (total $837,576); sale prices ranged from $20.53 to $21.30 per share (per footnote).
• Additional line: 40,000-share disposition @ $0 reported in connection with exercise/conversion of a derivative (filing does not specify details).
• Footnotes: Sales were made pursuant to a Rule 10b5-1 plan dated Dec 15, 2025 and include sales for tax planning purposes (F1); options are fully vested and exercisable (F3); weighted-average sale price disclosure and price range provided (F2).
• Shares owned after the transactions: not specified in the filing.
• Filing timeliness: Report filed on 2026-03-27 for a 2026-03-25 transaction — appears to be timely (Form 4 is generally due within two business days).

Context

• This is an exercised-option sale executed under a 10b5-1 plan; such sales are often pre-planned and can be for diversification or tax purposes rather than a direct market sentiment signal.
• Because the options were exercised and the shares sold the same day, this functions like a cashless exercise: the insider realized the net difference between the sale proceeds and exercise cost.