CBLL Insider Filing: Raymond Woo Exercises Options and Sells Shares
Rhea-AI Filing Summary
Raymond Woo, Chief Technology Officer of Ceribell, Inc. (CBLL), reported option exercises and a sale executed under a Rule 10b5-1 trading plan on 09/04/2025. He exercised a stock option with a $2.24 exercise price for 1,472 shares, and two options with $4.70 exercise prices for 3,025 and 6,615 shares, respectively. Following those exercises his reported common stock beneficial ownership increased in interim steps to 178,816 shares and then, after a sale, decreased to 167,704 shares. He sold 11,112 shares at a weighted-average price of $12.11 (individual sale prices ranged $12.00–$12.34). The Form 4 states the option exercises and sales were effected pursuant to a Rule 10b5-1 plan and notes vesting schedules and exercisability for the reported options.
Positive
- Transactions were executed pursuant to a Rule 10b5-1 trading plan, which is disclosed in the Form 4
- Exercised options are at low exercise prices relative to the reported weighted-average sale price ($2.24 and $4.70 exercise prices vs $12.11 sale price)
- Filing includes vesting schedules and exercisability disclosures for remaining options
Negative
- Sale of 11,112 shares reduced reported beneficial ownership to 167,704 shares
Insights
TL;DR: Routine insider option exercises and a planned sale under a 10b5-1 plan; not an unexpected, material corporate event.
The Form 4 shows the CTO exercised vested options at $2.24 and $4.70 and sold 11,112 shares at a weighted-average price of $12.11 under a Rule 10b5-1 plan. These transactions altered reported beneficial ownership from interim totals to a final reported 167,704 shares. The filing discloses vesting schedules for remaining options and confirms the exercises were effected pursuant to the trading plan. For investors, this is a disclosure of insider liquidity and option exercises rather than an operational or financial performance disclosure.
TL;DR: Insider followed a documented trading plan and provided required disclosures; governance procedures appear observed.
The reporting person certified that the transactions were made under a Rule 10b5-1 trading plan and the Form 4 is signed by an attorney-in-fact, indicating compliance with Section 16 reporting requirements. The filing includes explicit vesting language for remaining options and discloses the weighted-average sale price range. This submission fulfills routine governance and transparency obligations for insider trades.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 1,472 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 3,025 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 6,615 | $0.00 | -- |
| Exercise | Common Stock | 1,472 | $2.24 | $3K |
| Exercise | Common Stock | 3,025 | $4.70 | $14K |
| Exercise | Common Stock | 6,615 | $4.70 | $31K |
| Sale | Common Stock | 11,112 | $12.11 | $135K |
Footnotes (1)
- The option exercises and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12 to $12.34, 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 purchased or sold, as applicable, at each separate price within the ranges set forth in this footnote. The stock option is fully vested and currently exercisable. The option vests with respect to 1/48 of the shares subject thereto on each monthly anniversary of April 1, 2023, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date. The option vests with respect to 1/24 of the shares subject thereto on each monthly anniversary of April 1, 2023, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.
