Blaize Holdings (BZAI) director exercises options and sells 50,000 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Blaize Holdings, Inc. director Anthony Cannestra reported an exercise-and-sale transaction in company stock. He exercised stock options to acquire 50,000 shares of common stock at an exercise price of $0.57 per share, then sold 50,000 shares of common stock in open-market transactions at a weighted average price of $1.85 per share.
The sale price reflected multiple trades between $1.78 and $1.88 per share. Both the option exercise and the share sales were carried out under a pre-arranged Rule 10b5-1 trading plan that Cannestra adopted on December 11, 2025, indicating the timing was set in advance rather than decided opportunistically. Following these transactions, the filing reports no directly owned shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 50,000 shares ($92,500)
Net Sell
3 txns
Insider
Cannestra Anthony
Role
null
Sold
50,000 shs ($93K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to purchase) | 50,000 | $0.00 | -- |
| Exercise | Common Stock | 50,000 | $0.57 | $28K |
| Sale | Common Stock | 50,000 | $1.85 | $93K |
Holdings After Transaction:
Employee Stock Option (right to purchase) — 112,169 shares (Direct, null);
Common Stock — 50,000 shares (Direct, null)
Footnotes (1)
- The reported exercise of 50,000 stock options underlying 50,000 shares of the Issuer's common stock was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2025 (the "10b5-1 trading plan"). The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.78 to $1.88, inclusive. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided. The stock option to purchase one share of the Issuer's common stock for each stock option is fully vested and exercisable. Represents securities received as part of the Issuer's business combination, in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024, October 24, 2024, and November 21, 2024 (the "Merger Agreement") by and among the Issuer (formerly BurTech Acquisition Corp.), BurTech Merger Sub, Inc., Blaize, Inc. ("Legacy Blaize"), and for the limited purposes set forth therein, Burkhan Capital LLC, pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options of the Issuer as set forth in the Merger Agreement.
Key Figures
Shares sold: 50,000 shares
Weighted average sale price: $1.85 per share
Options exercised: 50,000 shares
+2 more
5 metrics
Shares sold
50,000 shares
Open-market sale of common stock on May 11, 2026
Weighted average sale price
$1.85 per share
Multiple trades between $1.78 and $1.88
Options exercised
50,000 shares
Stock option exercise into common stock
Exercise price
$0.57 per share
Stock option exercise price for 50,000 shares
Post-transaction common shares
0 shares
Directly owned common stock after reported sale
Key Terms
Rule 10b5-1 trading plan, weighted average price, Employee Stock Option (right to purchase), Agreement and Plan of Merger
4 terms
Rule 10b5-1 trading plan regulatory
"The reported exercise ... was 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 price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Employee Stock Option (right to purchase) financial
"security_title": "Employee Stock Option (right to purchase)""
Agreement and Plan of Merger regulatory
"in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
FAQ
What insider transactions did Blaize Holdings (BZAI) director Anthony Cannestra report?
Anthony Cannestra reported exercising stock options for 50,000 Blaize Holdings shares and selling 50,000 common shares. The exercise converted options into stock at $0.57 per share, followed by open-market sales at a weighted average price of $1.85 per share under a Rule 10b5-1 plan.
Was Anthony Cannestra’s Blaize Holdings (BZAI) trading pre-planned under Rule 10b5-1?
Yes. The filing explains both the option exercise and the subsequent share sales were executed under a Rule 10b5-1 trading plan. The plan was adopted on December 11, 2025, meaning the trades followed a pre-established schedule rather than ad hoc timing decisions.