Alpha & Omega (AOSL) CEO sells 14,884 shares in pre-set plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Alpha & Omega Semiconductor’s Chief Executive Officer Stephen Chunping Chang reported open-market sales of a total of 14,884 common shares of AOSL on April 17, 2026. The trades were executed at prices between $32.90 and $34.90 per share under a pre-arranged Rule 10b5-1 trading plan.

Following these sales, Chang continues to hold a large equity position, including substantial unvested awards such as market-based performance share units, performance share units, and restricted share units that may vest over time if service and performance conditions are met.

Insights

CEO’s 10b5-1 stock sale is modest and pre-planned, signaling routine diversification rather than a sharp change in outlook.

CEO Stephen Chunping Chang sold 14,884 common shares of ALPHA & OMEGA SEMICONDUCTOR Ltd in open-market transactions on April 17, 2026, at prices from $32.90 to $34.90. The filing labels each transaction as an open-market sale.

A key footnote states these sales were effected under a Rule 10b5-1 trading plan adopted on September 8, 2025, indicating they were pre-scheduled rather than opportunistic. Chang still holds hundreds of thousands of shares plus significant unvested MSU, PSU, and RSU awards, so his overall equity exposure remains substantial.

Insider Trade Summary 10b5-1

Net Seller: 14,884 shares ($512,987)

Net Sell 3 txns

Insider Chang Stephen Chunping

Role Chief Executive Officer

Sold 14,884 shs ($513K)

Type	Security	Shares	Price	Value
Sale	Common Share	1,492	$32.90	$49K
Sale	Common Share	3,481	$33.90	$118K
Sale	Common Share	9,911	$34.90	$346K

Holdings After Transaction: Common Share — 649,293 shares (Direct, null)

Footnotes (1)

The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2025. The price reported in Column 4 is the exact price at which all shares were sold. Includes 22,500 unvested shares subject to the Market-Based Performance Share Unit (MSU) granted on July 1, 2018 which are subject to vesting upon satisfaction of service-based vesting conditions by the Reporting Person. Includes 79,375 unvested shares subject to the Performance Share Unit (PSU) granted on March 15, 2024 and March 17, 2025 which are subject to vesting upon satisfaction of service-based vesting conditions by the Reporting Person. Includes an aggregate of 161,250 shares subject to Restricted Share Unit awards (RSU) granted on March 15, 2023, March 15, 2024, March 17, 2025, and March 16, 2026 which will be issued as such units vest in accordance with their terms, and excludes 67,500 unvested common shares subject to the PSU granted on March 16, 2026, which may become vested upon achievement of certain corporate performance goals in the future.

Key Figures

Total shares sold: 14,884 shares Highest sale price: $34.90 per share Mid sale price: $33.90 per share +5 more

8 metrics

Total shares sold 14,884 shares Aggregate open-market sales on April 17, 2026

Highest sale price $34.90 per share 9,911 shares of common stock sold

Mid sale price $33.90 per share 3,481 shares of common stock sold

Lowest sale price $32.90 per share 1,492 shares of common stock sold

Unvested MSU 22,500 shares Market-Based Performance Share Units from July 1, 2018 grant

Unvested PSU 79,375 shares Performance Share Units from March 15, 2024 and March 17, 2025 grants

RSU awards 161,250 shares Shares subject to RSU awards that will be issued upon vesting

Excluded future PSU 67,500 shares PSU from March 16, 2026 grant that may vest on performance

Key Terms

Rule 10b5-1 trading plan, Market-Based Performance Share Unit (MSU), Performance Share Unit (PSU), Restricted Share Unit awards (RSU), +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The sales were effected pursuant to a Rule 10b5-1 trading plan adopted..."

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.

unvested shares financial

"Includes 22,500 unvested shares subject to the Market-Based Performance Share Unit..."

Form 4 Insider Transactions: What Each Field Means →

04/20/2026 - 04:06 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^*

Chang Stephen Chunping

(Last)

(First)

(Middle)

475 OAKMEAD PKWY

(Street)

SUNNYVALE

CALIFORNIA

94085

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ALPHA & OMEGA SEMICONDUCTOR Ltd [ AOSL ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/17/2026

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 Share	04/17/2026		S		1,492⁽¹⁾	D	$32.9⁽²⁾	649,293⁽³⁾⁽⁴⁾⁽⁵⁾	D
Common Share	04/17/2026		S		3,481⁽¹⁾	D	$33.9⁽²⁾	645,812⁽³⁾⁽⁴⁾⁽⁵⁾	D
Common Share	04/17/2026		S		9,911⁽¹⁾	D	$34.9⁽²⁾	635,901⁽³⁾⁽⁴⁾⁽⁵⁾	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. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2025.

2. The price reported in Column 4 is the exact price at which all shares were sold.

3. Includes 22,500 unvested shares subject to the Market-Based Performance Share Unit (MSU) granted on July 1, 2018 which are subject to vesting upon satisfaction of service-based vesting conditions by the Reporting Person.

4. Includes 79,375 unvested shares subject to the Performance Share Unit (PSU) granted on March 15, 2024 and March 17, 2025 which are subject to vesting upon satisfaction of service-based vesting conditions by the Reporting Person.

5. Includes an aggregate of 161,250 shares subject to Restricted Share Unit awards (RSU) granted on March 15, 2023, March 15, 2024, March 17, 2025, and March 16, 2026 which will be issued as such units vest in accordance with their terms, and excludes 67,500 unvested common shares subject to the PSU granted on March 16, 2026, which may become vested upon achievement of certain corporate performance goals in the future.

Remarks:

	/s/ Yanbing Hong, attorney-in-fact for Stephen Chang	04/20/2026
	** 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 AOSL CEO Stephen Chunping Chang report in this Form 4 filing?

The filing reports that AOSL CEO Stephen Chunping Chang sold 14,884 common shares in open-market transactions. These trades occurred on April 17, 2026 at prices between $32.90 and $34.90 per share, and were executed under a pre-arranged Rule 10b5-1 trading plan.

How many Alpha & Omega Semiconductor (AOSL) shares did the CEO sell and at what prices?

Stephen Chunping Chang sold a total of 14,884 AOSL common shares in three trades. The reported exact prices were $34.90 for 9,911 shares, $33.90 for 3,481 shares, and $32.90 for 1,492 shares, all executed on April 17, 2026 as open-market sales.

Were the AOSL CEO’s stock sales made under a Rule 10b5-1 trading plan?

Yes. A footnote explains that all reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Stephen Chunping Chang on September 8, 2025. Such pre-arranged plans typically schedule trades in advance, reducing the significance of short-term market timing decisions.

Does the AOSL CEO still hold unvested equity awards after these stock sales?

Yes. The filing notes that his holdings include 22,500 unvested market-based performance share units, 79,375 unvested performance share units, and 161,250 restricted share units that will be issued as they vest. It also excludes 67,500 additional PSU shares that may vest upon future performance goals.

How significant are the AOSL CEO’s remaining equity incentives after the reported sales?

The CEO retains substantial equity incentives through multiple unvested awards. These comprise tens of thousands of market-based performance share units, performance share units, and restricted share units, which vest over time based on service and corporate performance conditions, keeping his long-term incentives closely tied to shareholder value.