CBLL CTO exercises options and executes 10b5-1 sale of 11,112 shares
Rhea-AI Filing Summary
Ceribell, Inc. (CBLL) insider activity on 10/03/2025 shows the Chief Technology Officer, Raymond Woo, executed option exercises and open-market sales under a Rule 10b5-1 plan.
Mr. Woo exercised 1,472 options at a $2.24 strike, 3,025 options at $4.7, and 6,615 options at $4.7, increasing his reported beneficially owned common shares to 178,816 before a sale. He sold 11,112 shares in multiple trades at a weighted average price of $12.54 (individual sale prices ranged $12.00–$12.99), and the sale was effected pursuant to a Rule 10b5-1 trading plan. The filing notes option vesting schedules and that one option is fully vested and exercisable.
Positive
- Sales executed under a Rule 10b5-1 plan, indicating pre-arranged trading
- Exercises of vested options at $2.24 and $4.7, increasing share ownership
- Clear disclosure of weighted-average sale price and price range ($12.00–$12.99)
Negative
- Insider sold 11,112 shares, reducing holdings by that amount after exercises
- Weighted average sale price of $12.54 may reflect partial monetization of equity position
Insights
Insider exercised vested options and sold shares via a 10b5-1 plan, increasing exercised holdings then reducing open shares.
The reporting shows exercises of stock options at striking prices of $2.24 and $4.7, which converted into common shares and raised the reporting person’s beneficial ownership to 178,816 before sales. One option is noted as fully vested while others vest monthly per the disclosed schedules.
The subsequent sale of 11,112 shares at a weighted average of $12.54 was executed under a Rule 10b5-1 plan, which typically provides an affirmative defense for scheduled trades; watch for any future Form 4s to see whether sales continue under the same plan over the next 3–12 months.
Use of a Rule 10b5-1 plan signals pre-planned, rule-compliant disposition rather than ad hoc insider selling.
The filer expressly states the sales were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. That disclosure helps clarify intent and timing, reducing ambiguity about potential insider-timing concerns.
Material items to monitor include any amendments or additional Form 4 filings that disclose further trades or plan terminations within the next several quarters, which would indicate whether the disclosed selling pattern is isolated or ongoing.
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 | $12.54 | $139K |
Footnotes (1)
- The 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 $12.99, 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.
