Stardust Power Inc SEC Filings

On 23 June 2025, Chief Technical Officer Pablo Cortegoso filed Amendment No. 1 to his Schedule 13D covering Stardust Power Inc. (symbol SDSTW). The filing confirms that Cortegoso beneficially owns 5,006,616 common shares with sole voting and dispositive power, equal to 8.322 % of the 60,160,804 shares outstanding reported in the company’s 10-Q dated 14 May 2025.

The amendment records two recent, non-discretionary “sell-to-cover” transactions executed under a Rule 10b5-1 trading plan adopted on 13 December 2024:

• 16 June 2025: 2,355 shares sold to satisfy tax withholding on RSU vesting.
• 20 June 2025: 173,610 shares sold to cover tax obligations upon stock delivery.

No other trades were effected in the past 60 days. Source of funds is listed as “OO” (other) and the filer acts individually, with no group affiliations or pending legal matters disclosed. All other provisions of the original Schedule 13D filed 15 July 2024 remain unchanged.

The filing maintains transparency on insider ownership, showing Cortegoso’s continuing significant stake while clarifying that recent share sales were strictly for tax purposes.

Stardust Power Chief Financial Officer Udaychandra Devasper reported a significant insider transaction on Form 4, executing a sale of 160,450 shares of Common Stock on June 20, 2025, at a weighted average price of $0.1856 per share.

Key transaction details:

• The sale was specifically to cover tax withholding obligations related to stock settlement
• Transaction price range: $0.1801 - $0.1875 per share
• Following the transaction, Devasper retains beneficial ownership of 598,655 shares held directly
• The shares were sold in multiple transactions, with the reporting person obligated to provide detailed price information upon request

This transaction appears to be a routine tax-related sale rather than a discretionary divestment, suggesting no significant change in the CFO's long-term position in the company.

Insider Trading Alert: Pablo Cortegoso, Chief Technical Officer of Stardust Power, executed a significant stock transaction on June 20, 2025. The insider sold 173,610 shares of common stock at a weighted average price of $0.1861 per share.

The transaction was specifically conducted to cover tax withholding obligations related to the settlement of Common Stock. The sales were executed through multiple transactions within a price range of $0.1801 to $0.1889 per share.

Following this transaction, Cortegoso continues to maintain direct ownership of 5,006,616 shares of Stardust Power common stock. The Form 4 was filed on June 28, 2025, with the signature executed by Udaychandra Devasper acting as attorney-in-fact for Pablo Cortegoso.

Stardust Power Inc. (Nasdaq: SDST) filed a Form 8-K dated 19 June 2025 reporting the resignation of director Martyn Buttenshaw from the Board, effective the same day. The company states the departure was not the result of any disagreement concerning operations, policies or practices. No successor, compensation changes or additional governance actions were disclosed. Aside from standard header information on the company’s common stock and warrant listings, the filing contains no financial statements, earnings data or strategic developments.

Amendment No. 2 to Schedule 13D filed on 06/20/2025 discloses updated insider ownership of Stardust Power Inc. common stock by Chief Executive Officer Roshen Pujari.

After recent transfers and a small tax-related sale, Pujari now beneficially owns 26,394,284 shares, representing 43.9 % of the 60,160,804 shares outstanding as of 05/13/2025. He retains sole voting and dispositive power over all shares reported and has no shared voting or dispositive authority.

Recent transactions specifically detailed:

• 16 Apr 2025 – transfer of 1,500,000 shares to an irrevocable trust for his child (no consideration).
• 17 Apr 2025 – additional transfer of 1,380,000 shares to the same trust (no consideration).
• 16 Jun 2025 – sale of 9,350 shares under a Rule 10b5-1 plan solely to satisfy tax-withholding from RSU vesting.
• 18 Jun 2025 – transfer of 103,817 shares held via Vikasa Clean Energy I L.P. to certain limited partners (no additional consideration).

Pujari disclaims beneficial ownership of all shares moved to the trust or distributed to limited partners. Except for the above, no other transactions occurred in the past 60 days. The amendment leaves all other portions of the original 13D in effect.

Roshen Pujari, CEO, Chairman, and 10% owner of Stardust Power, reported significant insider trading activity on June 18, 2025. The transaction involved a pro rata distribution of 103,817 shares of common stock from Vikasa Clean Energy I L.P. to certain limited partners for no consideration.

Following the transaction, Pujari's beneficial ownership includes:

• Direct ownership: 8,901,063 shares of common stock
• Indirect ownership: 17,722,957 shares through various entities including:
  • Energy Transition Investors LLC (4,652,864 shares)
  • 7636 Holdings LLC (10,872,790 shares)
  • Vikasa Clean Energy LLC (1,737,079 shares)
  • Maggie Clayton (460,224 shares)

The filing was signed by Udaychandra Devasper as attorney-in-fact for Pujari on June 20, 2025. The reporting person disclaims beneficial ownership of the distributed securities for Section 16 purposes.