AST SpaceMobile CTO Exercises 40,000 Options, Sells 16,000 Shares

Huiwen Yao, Chief Technology Officer of AST SpaceMobile (ASTS), exercised 40,000 AST LLC Incentive Equity Options on 09/02/2025 at an exercise price of $0.0641 per share, resulting in acquisition of 40,000 Class A common shares.

Rhea-AI Filing Summary

Huiwen Yao, Chief Technology Officer of AST SpaceMobile (ASTS), exercised 40,000 AST LLC Incentive Equity Options on 09/02/2025 at an exercise price of $0.0641 per share, resulting in acquisition of 40,000 Class A common shares. The reporting person sold 16,000 of those shares on 09/03/2025 at a weighted average price of $48.04 per share to cover anticipated tax liabilities. Following these transactions the reporting person held 44,750 shares of Class A common stock directly.

The filing also discloses indirect beneficial ownership of 379,912 shares through AST LLC units. The options exercised vesting and conversion mechanics are described in the footnotes, and the Form 4 is signed 09/04/2025.

Positive

• Retained substantial ownership: After the transactions the reporting person retains 44,750 Class A shares directly and 379,912 shares indirectly.
• Exercise indicates confidence in option value: Conversion of 40,000 incentive options at a nominal exercise price of $0.0641 realized significant intrinsic value.

Negative

• Partial sell-down: Sold 16,000 shares (proceeds at weighted average $48.04) which reduces direct share count.
• Tax-driven sale: Shares sold were to cover anticipated tax liabilities, indicating cash needs tied to option exercise.

Insights

Securities Analyst

TL;DR: CTO exercised incented options and sold a portion to cover taxes; retains sizable direct and indirect holdings.

The exercise of 40,000 incentive options at $0.0641 followed by the sale of 16,000 shares at a weighted average of $48.04 is a routine insider liquidity event tied to option exercise tax obligations. The reporting person still holds 44,750 shares directly and an additional 379,912 shares indirectly through AST LLC units, indicating continued material alignment with shareholder value. Transaction sizes are modest relative to total indirect holdings but represent monetization of intrinsic option value.

Corporate Governance Expert

TL;DR: Insider exercised long-dated incentive options; sale limited to tax-covering amount, leaving substantive ownership intact.

The footnotes clarify that each option converts through a multi-step unit exchange and that options expire no later than ten years from grant. The sale of 16,000 shares is explicitly described as to cover anticipated tax liabilities rather than signaling broad divestiture. From a governance perspective, the CTO maintains both direct and substantial indirect holdings that preserve ongoing economic and voting interest.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Yao Huiwen

Role Chief Technology Officer

Sold 16,000 shs ($769K)

Approx. gross sale proceeds $769K

Approx. exercise cost $3K

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	16,000	$48.04	$769K
In-the-Money Exercise	AST LLC Incentive Equity Options	40,000	$0.00	$0.00
In-the-Money Exercise	Class A Common Stock	40,000	$0.0641	$3K

Holdings After Transaction: AST LLC Incentive Equity Options — 379,912 contracts (Indirect, See Footnote); Class A Common Stock — 44,750 shares (Direct)

Footnotes (4)

1. F1. Represents shares of Class A Common Stock obtained from exercise of AST LLC Incentive Equity Options.
2. F2. Represents shares of Class A Common Stock sold by the Reporting Person to cover anticipated tax liabilities in connection with the exercise of 40,000 AST LLC Incentive Equity Options reported herein.
3. F3. Represents the weighted average selling price. These shares were sold in multiple transactions at prices ranging from $47.58 per share to $48.29 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, 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 range set forth in this footnote.
4. F4. Six months after vesting, each AST LLC Incentive Equity Option is exercisable for an AST LLC Incentive Equity Unit, each of which is then exchangeable for an AST LLC Common Unit that is redeemable for one share of Class A Common Stock. The AST LLC Incentive Equity Options expire no later than 10 years from the date of grant.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transactions did ASTS insider Huiwen Yao report on Form 4?

The Form 4 reports exercise of 40,000 AST LLC Incentive Equity Options on 09/02/2025 at an exercise price of $0.0641 and sale of 16,000 shares on 09/03/2025 at a weighted average price of $48.04.

How many ASTS shares does Huiwen Yao own after these transactions?

Following these transactions the reporting person beneficially owns 44,750 Class A shares directly and 379,912 shares indirectly through AST LLC units.

Why were 16,000 shares sold by the reporting person?

The filing states the 16,000 shares were sold to cover anticipated tax liabilities arising from the option exercise.

When were these transactions signed and reported?

Transactions occurred on 09/02/2025 (exercise) and 09/03/2025 (sale) and the Form 4 is signed by Huiwen Yao on 09/04/2025.

What is the exercise and conversion mechanics for the AST LLC Incentive Equity Options?

Footnotes state each option becomes exercisable six months after vesting, converts to an AST LLC Incentive Equity Unit, then to an AST LLC Common Unit redeemable for one share of Class A common stock; options expire no later than ten years from grant.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/04/2025 - 04:30 PM EDT Learn about SEC filing dates

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^*

Yao Huiwen

(Last) (First) (Middle)

C/O AST SPACEMOBILE, INC., MIDLAND AIR &

SPACE PORT, 2901 ENTERPRISE LANE

(Street)

MIDLAND TX 79706

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AST SpaceMobile, Inc. [ ASTS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/02/2025		X		40,000(1)	A	$0.0641	60,750	D
Class A Common Stock	09/03/2025		S		16,000(2)	D	$48.04(3)	44,750	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
AST LLC Incentive Equity Options	$0.0641	09/02/2025		X			40,000	10/01/2023(4)	04/17/2029(4)	Class A Common Stock	40,000	$0	379,912	I	See Footnote(4)

Explanation of Responses:

1. Represents shares of Class A Common Stock obtained from exercise of AST LLC Incentive Equity Options.

2. Represents shares of Class A Common Stock sold by the Reporting Person to cover anticipated tax liabilities in connection with the exercise of 40,000 AST LLC Incentive Equity Options reported herein.

3. Represents the weighted average selling price. These shares were sold in multiple transactions at prices ranging from $47.58 per share to $48.29 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, 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 range set forth in this footnote.

4. Six months after vesting, each AST LLC Incentive Equity Option is exercisable for an AST LLC Incentive Equity Unit, each of which is then exchangeable for an AST LLC Common Unit that is redeemable for one share of Class A Common Stock. The AST LLC Incentive Equity Options expire no later than 10 years from the date of grant.

	/s/ Huiwen Yao	09/04/2025
	** 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.
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