ASP Isotopes (ASPI) Form 4: 10b5-1 Sale and Option Grants/Settlements
Rhea-AI Filing Summary
Robert Ainscow, Chief Operating Officer of ASP Isotopes Inc. (ASPI), reported multiple transactions on September 8-9, 2025. On 09/08/2025 he executed "sell to cover" sales under a Rule 10b5-1 plan totaling 8,438 shares at a weighted average price of $8.5263 to cover tax withholding from vested restricted stock. On 09/09/2025 he was granted or exercised employee stock options: option grants/exercises include 150,000 options at $0.25, 12,000 options at $2, and 135,000 options at $2, increasing beneficial ownership by option awards to positions listed. Net-share settlements of option exercises resulted in withholding of 4,396, 2,813, and 31,652 shares. After the reported transactions the filing person beneficially owned 1,669,693 shares.
Positive
- Use of a Rule 10b5-1 plan for the 09/08/2025 sales provides an affirmative defense and indicates pre-planned execution.
- Detailed disclosure of vesting schedules and net-share settlement amounts enhances transparency about compensation-related equity changes.
- Reporting person retains significant ownership with 1,669,693 shares beneficially owned following the transactions.
Negative
- Sell-to-cover transactions reduced outstanding shares by 8,438 shares on 09/08/2025, reflecting dilution of insider holdings for tax settlement.
- Net-share settlements withheld 38,861 shares (4,396 + 2,813 + 31,652) in connection with option exercises, reducing reported beneficial ownership available for sale.
Insights
TL;DR: Routine insider tax-related share sales and option activity under employee plans; not an unusual disclosure.
The filing documents a Rule 10b5-1 "sell to cover" sale of 8,438 shares at a weighted average price of $8.5263 executed to satisfy tax withholding on vested restricted stock awards, and multiple option-related transactions on 09/09/2025: grants/exercises of 150,000 options at $0.25, 12,000 at $2, and 135,000 at $2. The filing also reports net-share settlements withholding 4,396; 2,813; and 31,652 shares to pay exercise/tax obligations. The reporting person remains a significant beneficial holder with 1,669,693 shares after activity. This is primarily administrative compensation and tax-settlement activity rather than an open-market disposition for liquidity.
TL;DR: Disclosure shows use of a 10b5-1 trading plan and standard net-share settlements for option exercises, consistent with typical insider practices.
The filing explicitly states a 10b5-1 plan adopted June 9, 2025 was used for "sell to cover" transactions to satisfy tax withholding. The filing also details vesting schedules for the listed option grants (various grant dates and vesting schedules are included) and confirms no open-market sales were used to satisfy exercise prices or tax liabilities aside from the 10b5-1 sales. From a governance perspective, the report provides clear traceability of compensation-related equity flows and compliance with Section 16 reporting.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 150,000 | $0.00 | -- |
| Exercise | Employee Stock Option (right to buy) | 12,000 | $0.00 | -- |
| Exercise | Employee Stock Option (right to buy) | 135,000 | $0.00 | -- |
| Exercise | Common Stock | 150,000 | $0.25 | $38K |
| Tax Withholding | Common Stock | 4,396 | $8.53 | $37K |
| Exercise | Common Stock | 12,000 | $2.00 | $24K |
| Tax Withholding | Common Stock | 2,813 | $8.53 | $24K |
| Exercise | Common Stock | 135,000 | $2.00 | $270K |
| Tax Withholding | Common Stock | 31,652 | $8.53 | $270K |
| Sale | Common Stock | 8,438 | $8.5263 | $72K |
Footnotes (1)
- Represents "sell to cover" sales effected pursuant to a Rule 10b5-1 trading plan adopted by the filing person on June 9, 2025 to cover tax withholding obligations in connection with the vesting of restricted stock awards. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.31 to $8.79, inclusive. The reporting person undertakes to provide ASP Isotopes Inc. (the "Company"), any stockholder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in Footnote 2. Represents shares withheld by the Company in connection with net share settlement to satisfy the exercise price associated with the reporting person's exercise of employee stock options. No shares were sold by the reporting person to satisfy the exercise price or any tax liability. These options vested in thirty-six equal installments beginning on the last day of month after the option's grant date. The option was granted on October 4, 2021. These options vested in a single installment 12 months after the grant date. The option was granted on April 4, 2022. These options vested in thirty-six equal installments beginning on the last day of month after the option's grant date. The option was granted on June, 10, 2022.
