Director Anthony Cannestra of Blaize (NASDAQ: BZAI) exercises options, sells 50,000 shares

Rhea-AI Filing Summary

Blaize Holdings, Inc. director Anthony Cannestra reported an exercise-and-sale transaction in company stock. He exercised options to acquire 50,000 shares of Common Stock at an exercise price of $0.57 per share, then sold 50,000 shares in open-market transactions at a weighted average price of $1.68 per share.

Both the option exercise and the share sales on June 8, 2026 were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 11, 2025, indicating the activity was scheduled in advance. Following these transactions, Cannestra reported no directly held Common Stock, while 62,169 Employee Stock Options remained outstanding and fully vested, each exercisable for one share of Common Stock until their expiration on September 18, 2033.

Insights

Equity compensation and insider-trading analyst

Pre-planned option exercise and full sale of 50,000 shares under 10b5-1.

Director Anthony Cannestra exercised Employee Stock Options to acquire 50,000 shares of Blaize Holdings, Inc. Common Stock at an exercise price of $0.57 and sold 50,000 shares at a weighted average of $1.68 on June 8, 2026.

Footnotes state both the option exercise and resulting sales were executed under a Rule 10b5-1 trading plan adopted on December 11, 2025, suggesting these were pre-scheduled liquidity events rather than discretionary market-timing decisions. After the transactions, he reported no directly held Common Stock.

The filing shows 62,169 Employee Stock Options remaining outstanding and fully vested, each for one share of Common Stock expiring on September 18, 2033. This indicates Cannestra retains equity exposure through options despite liquidating this particular 50,000-share common stock position.

Insider Trade Summary 10b5-1

Net Seller: 50,000 shares ($84,000)

Net Sell 3 txns

Insider Cannestra Anthony

Role null

Sold 50,000 shs ($84K)

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	$1.68	$84K

Holdings After Transaction: Employee Stock Option (right to purchase) — 62,169 shares (Direct, null); Common Stock — 50,000 shares (Direct, null)

Footnotes (1)

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 $1.65 to $1.70, 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 Sale price (weighted average): $1.68 per share Sale price range: $1.65–$1.70 per share +4 more

7 metrics

Shares sold 50,000 shares Common Stock sold in open market on June 8, 2026

Sale price (weighted average) $1.68 per share Weighted average sale price for 50,000 Common shares

Sale price range $1.65–$1.70 per share Range of individual trade prices for sold shares

Options exercised 50,000 options Employee Stock Options exercised into Common Stock

Option exercise price $0.57 per share Exercise price for Employee Stock Options

Remaining options 62,169 options Employee Stock Options outstanding after transactions

Option expiration September 18, 2033 Expiration date of remaining Employee Stock Options

Key Terms

Rule 10b5-1 trading plan, weighted average price, Employee Stock Option (right to purchase), Agreement and Plan of Merger, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The reported exercise of 50,000 stock options ... 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. These shares were sold in multiple transactions..."

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)" with an exercise price of $0.5700..."

Agreement and Plan of Merger regulatory

"in connection with that certain Agreement and Plan of Merger, dated as of December 22, 2023 and amended on April 22, 2024..."

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.

Merger Agreement financial

"pursuant to which securities of Legacy Blaize were automatically converted into the right to receive stock options ... as set forth in the Merger Agreement."

A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

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).

X

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^*

Cannestra Anthony

(Last) (First) (Middle)

C/O BLAIZE HOLDINGS, INC.

4659 GOLDEN FOOTHILL PARKWAY, SUITE 206

(Street)

EL DORADO HILLS CALIFORNIA 95762

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Blaize Holdings, Inc. [ BZAI ]

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)
06/08/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/08/2026		M		50,000(1)	A	$0.57	50,000	D
Common Stock	06/08/2026		S		50,000(2)	D	$1.68(3)	0	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
Employee Stock Option (right to purchase)	$0.57	06/08/2026		M			50,000(1)	(4)	09/18/2033	Common Stock	50,000	(5)	62,169	D

Explanation of Responses:

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").

2. The reported sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.65 to $1.70, 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.

4. The stock option to purchase one share of the Issuer's common stock for each stock option is fully vested and exercisable.

5. 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.

Remarks:

	/s/ Harminder Sehmi, as Attorney-in-Fact	06/10/2026
	** 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)

FAQ

What did Blaize Holdings (BZAI) director Anthony Cannestra do in this Form 4?

Anthony Cannestra exercised 50,000 stock options and sold 50,000 Blaize Holdings shares. He acquired shares at an exercise price of $0.57 and sold them at a weighted average of $1.68 per share on June 8, 2026, all under a Rule 10b5-1 plan.

At what prices did Anthony Cannestra trade Blaize Holdings (BZAI) stock?

Cannestra exercised options at $0.57 and sold shares at a weighted average price of $1.68. The footnotes state the 50,000 shares were sold in multiple trades between $1.65 and $1.70 per share, reported as one weighted-average figure.

Was the Blaize Holdings (BZAI) insider transaction made under a Rule 10b5-1 plan?

Yes, both the option exercise and share sales were under a Rule 10b5-1 trading plan. The plan was adopted by Anthony Cannestra on December 11, 2025, and the filing notes that the reported transactions were executed pursuant to this pre-arranged plan.

How many Blaize Holdings (BZAI) shares and options does Anthony Cannestra hold after these trades?

After the trades, Cannestra reported no directly held Common Stock shares and 62,169 stock options outstanding. These Employee Stock Options are fully vested, each exercisable for one share of Common Stock, and are scheduled to expire on September 18, 2033.

What type of securities did Anthony Cannestra trade in Blaize Holdings (BZAI)?

Cannestra traded Common Stock and Employee Stock Options of Blaize Holdings. He exercised 50,000 Employee Stock Options into 50,000 Common Stock shares, then sold 50,000 Common Stock shares in open-market transactions, all recorded as part of this Form 4 filing.

How many Blaize Holdings (BZAI) shares did Anthony Cannestra sell on June 8, 2026?

He sold 50,000 shares of Blaize Holdings Common Stock. The filing classifies this as an open-market sale at a weighted average price of $1.68 per share, with multiple individual trades occurring between $1.65 and $1.70.