Were Steven Denbaars’ Aeluma (ALMU) share sales made under a Rule 10b5-1 plan?

Yes. A footnote states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2025. Such plans pre-schedule trades, indicating these May 2026 dispositions were arranged in advance rather than timed discretionarily around short-term market events.

Aeluma (ALMU) director Denbaars sells 25,000 shares under 10b5-1 plan

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Aeluma, Inc. director Steven Denbaars reported open-market sales of 25,000 shares of Common Stock. The sales occurred on May 19–20, 2026 at weighted average prices ranging from about $19.56 to $21.30 per share, executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 20, 2025. Following these transactions, he directly holds 370,209 shares of Aeluma common stock.

Insider Trade Summary 10b5-1

Net Seller: 25,000 shares ($505,630)

Net Sell 4 txns

Insider Denbaars Steven

Role null

Sold 25,000 shs ($506K)

Type	Security	Shares	Price	Value
Sale	Common Stock	11,558	$20.3957	$236K
Sale	Common Stock	942	$21.2991	$20K
Sale	Common Stock	7,415	$19.5584	$145K
Sale	Common Stock	5,085	$20.6111	$105K

Holdings After Transaction: Common Stock — 371,151 shares (Direct, null)

Footnotes (1)

Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 20, 2025. Restricted stock units scheduled to vest with respect to approximately 1/12 of the shares on December 31, 2025, 1/4 of the shares on March 31, June 30, and September 30, 2026, and 1/6 of the shares on November 30, 2026. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $19.02 to $20.01, inclusive. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $20.0244 to $20.9963, inclusive. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $19.89 to $20.8895, inclusive. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $20.907 to $21.63, inclusive.

Key Figures

Shares sold: 25,000 shares Weighted average price 1: $19.5584/share Weighted average price 2: $20.6111/share +3 more

6 metrics

Shares sold 25,000 shares Aggregate open-market sales on May 19–20, 2026

Weighted average price 1 $19.5584/share Common Stock sale on May 19, 2026

Weighted average price 2 $20.6111/share Common Stock sale on May 19, 2026

Weighted average price 3 $20.3957/share Common Stock sale on May 20, 2026

Weighted average price 4 $21.2991/share Common Stock sale on May 20, 2026

Remaining holdings 370,209 shares Directly owned after latest reported transaction

Key Terms

Rule 10b5-1 trading plan, weighted average sales price, restricted stock units, open-market sale

4 terms

Rule 10b5-1 trading plan financial

"Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sales price financial

"The price reported in Column 4 represents a weighted average sales price."

restricted stock units financial

"Restricted stock units scheduled to vest with respect to approximately 1/12 of the shares"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

open-market sale financial

"transaction_action: open-market sale for Common Stock on May 19–20, 2026"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 07:20 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Denbaars Steven

(Last)

(First)

(Middle)

27 CASTILIAN DRIVE

(Street)

GOLETA

CALIFORNIA

93117

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Aeluma, Inc. [ ALMU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/19/2026		S⁽¹⁾		7,415⁽²⁾	D	$19.5584⁽³⁾	387,794	D
Common Stock	05/19/2026		S⁽¹⁾		5,085	D	$20.6111⁽⁴⁾	382,709	D
Common Stock	05/20/2026		S⁽¹⁾		11,558	D	$20.3957⁽⁵⁾	371,151	D
Common Stock	05/20/2026		S⁽¹⁾		942	D	$21.2991⁽⁶⁾	370,209	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 20, 2025.

2. Restricted stock units scheduled to vest with respect to approximately 1/12 of the shares on December 31, 2025, 1/4 of the shares on March 31, June 30, and September 30, 2026, and 1/6 of the shares on November 30, 2026.

3. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $19.02 to $20.01, inclusive.

4. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $20.0244 to $20.9963, inclusive.

5. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $19.89 to $20.8895, inclusive.

6. The price reported in Column 4 represents a weighted average sales price. These shares were sold in multiple transactions at prices ranging from $20.907 to $21.63, inclusive.

	/s/ Joshua L. Colburn, Attorney-in-Fact	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Aeluma (ALMU) director Steven Denbaars report in this Form 4 filing?

Steven Denbaars reported selling 25,000 shares of Aeluma common stock in open-market transactions. The sales took place on May 19–20, 2026 under a pre-arranged Rule 10b5-1 trading plan, and he continues to hold a sizeable direct position afterward.

How many Aeluma (ALMU) shares did Steven Denbaars sell and at what prices?

He sold a total of 25,000 Aeluma common shares in four transactions. Weighted average sale prices ranged roughly from $19.56 to $21.30 per share, with detailed price ranges provided in the footnotes for each trade executed on May 19 and May 20, 2026.

How many Aeluma (ALMU) shares does Steven Denbaars hold after these sales?

After the reported transactions, Steven Denbaars directly holds 370,209 shares of Aeluma common stock. This post-transaction balance reflects his remaining direct ownership following the aggregate sale of 25,000 shares across multiple open-market trades in May 2026.

What price details are disclosed for the Aeluma (ALMU) stock sales in this Form 4?

Each transaction reports a weighted average sale price and a detailed intraday range. Footnotes show shares sold in multiple trades with prices between $19.02 and $21.63 per share, depending on the specific block and date, providing transparency into actual execution levels.

Does the Aeluma (ALMU) Form 4 mention any restricted stock units for Steven Denbaars?

Yes. A footnote describes restricted stock units scheduled to vest in installments through November 30, 2026. Vesting is outlined as fractions of the award on dates including December 31, 2025 and March 31, June 30, September 30, and November 30, 2026, indicating future share delivery.