Stardust Power Inc SEC Filings

Stardust Power Inc. filed Amendment No. 2 to a Schedule 13D reporting updated ownership details for Chief Technical Officer Pablo Cortegoso. He beneficially owns 626,916 shares of common stock, representing 6.29% of the company, based on 9,966,473 shares outstanding as of March 24, 2026.

Cortegoso has sole voting and dispositive power over all reported shares. On March 20, 2026, he received a grant of 130,909 fully vested restricted stock units, and on the same date sold 290 shares to cover tax withholding obligations related to this equity compensation.

Stardust Power Inc. files its annual report describing an early-stage strategy to build a large lithium refinery in Muskogee, Oklahoma. The planned facility targets up to 50,000 metric tons per annum of battery-grade lithium carbonate, developed in two 25,000 tpa phases using proven refining technology.

The company has secured a 66‑acre site for $1,662,030, obtained a preliminary incentive analysis of up to $257 million from Oklahoma and potential federal programs, and completed extensive site, engineering and independent-technical studies. It is pursuing a hub-and-spoke model sourcing lithium chloride brine feedstock from multiple LOI partners in North America and abroad.

Stardust Power remains pre-revenue and discloses substantial doubt about its ability to continue as a going concern, given an estimated Phase 1 refinery cost of about $500 million and reliance on future equity, debt and grant financing. As of June 30, 2025, non‑affiliate equity market value was $9,765,270, and 9,966,473 common shares were outstanding as of March 24, 2026.

Stardust Power Inc. files its annual report describing an early-stage strategy to build a large lithium refinery in Muskogee, Oklahoma. The planned facility targets up to 50,000 metric tons per annum of battery-grade lithium carbonate, developed in two 25,000 tpa phases using proven refining technology.

The company has secured a 66‑acre site for $1,662,030, obtained a preliminary incentive analysis of up to $257 million from Oklahoma and potential federal programs, and completed extensive site, engineering and independent-technical studies. It is pursuing a hub-and-spoke model sourcing lithium chloride brine feedstock from multiple LOI partners in North America and abroad.

Stardust Power remains pre-revenue and discloses substantial doubt about its ability to continue as a going concern, given an estimated Phase 1 refinery cost of about $500 million and reliance on future equity, debt and grant financing. As of June 30, 2025, non‑affiliate equity market value was $9,765,270, and 9,966,473 common shares were outstanding as of March 24, 2026.

Stardust Power Inc. CEO and Chairman Roshen Pujari reported both an equity award and a small share sale. He received a grant of 243,117 restricted stock units payable in common stock, which are fully vested. On the same date, 1,132 common shares were sold at $2.31 per share to cover tax withholding obligations arising from the RSU vesting and settlement.

After these transactions, Pujari holds 605,198 shares directly. He also beneficially owns 465,286 shares held by Energy Transition Investors LLC, 1,087,279 shares held by 7636 Holdings LLC, 141,888 shares held by Vikasa Clean Energy LLC, and 46,022 shares held by Maggie Clayton, reflecting substantial additional indirect ownership.

Stardust Power Inc. CEO and Chairman Roshen Pujari reported both an equity award and a small share sale. He received a grant of 243,117 restricted stock units payable in common stock, which are fully vested. On the same date, 1,132 common shares were sold at $2.31 per share to cover tax withholding obligations arising from the RSU vesting and settlement.

After these transactions, Pujari holds 605,198 shares directly. He also beneficially owns 465,286 shares held by Energy Transition Investors LLC, 1,087,279 shares held by 7636 Holdings LLC, 141,888 shares held by Vikasa Clean Energy LLC, and 46,022 shares held by Maggie Clayton, reflecting substantial additional indirect ownership.

Stardust Power Inc. Chief Financial Officer Devasper Udaychandra reported several equity compensation transactions involving restricted stock units (RSUs) and common stock on 2026-03-20. The filing shows an exercise of 8,245 RSUs into an equal number of common shares at a conversion price of $0.00 per share, increasing his directly held common stock to 76,803 shares immediately after the exercise.

On the same date, he received a separate grant of 85,091 common shares as fully vested RSUs payable solely in stock, bringing his direct common stock holdings to 161,894 shares. The filing also reports a sale of 4,507 common shares at $2.31 per share. A footnote explains this sale was made to cover tax withholding obligations arising from the vesting and settlement of RSUs, rather than a discretionary market sale.

Following these transactions, Udaychandra directly owns 157,387 common shares of Stardust Power. Footnotes clarify that each RSU represents the right to receive one common share upon vesting, and reference an earlier award of 98,948 RSUs connected to the closing of a business combination that vests quarterly over a three-year term beginning on July 8, 2024.

Stardust Power Inc. Chief Financial Officer Devasper Udaychandra reported several equity compensation transactions involving restricted stock units (RSUs) and common stock on 2026-03-20. The filing shows an exercise of 8,245 RSUs into an equal number of common shares at a conversion price of $0.00 per share, increasing his directly held common stock to 76,803 shares immediately after the exercise.

On the same date, he received a separate grant of 85,091 common shares as fully vested RSUs payable solely in stock, bringing his direct common stock holdings to 161,894 shares. The filing also reports a sale of 4,507 common shares at $2.31 per share. A footnote explains this sale was made to cover tax withholding obligations arising from the vesting and settlement of RSUs, rather than a discretionary market sale.

Following these transactions, Udaychandra directly owns 157,387 common shares of Stardust Power. Footnotes clarify that each RSU represents the right to receive one common share upon vesting, and reference an earlier award of 98,948 RSUs connected to the closing of a business combination that vests quarterly over a three-year term beginning on July 8, 2024.

Stardust Power Inc. General Counsel, Chief Compliance Officer and Secretary Bruce Czachor reported an open-market sale of 17,655 shares of common stock on March 20, 2026. The weighted average sale price was $2.29 per share, with individual trades executed between $2.26 and $2.31 per share.

According to the footnotes, this sale was made to cover tax withholding obligations that arose when restricted stock units vested and settled, meaning it was driven by tax requirements rather than a discretionary portfolio decision. After the transactions, Czachor directly held 22,345 shares of Stardust Power common stock.

Stardust Power Inc. General Counsel, Chief Compliance Officer and Secretary Bruce Czachor reported an open-market sale of 17,655 shares of common stock on March 20, 2026. The weighted average sale price was $2.29 per share, with individual trades executed between $2.26 and $2.31 per share.

According to the footnotes, this sale was made to cover tax withholding obligations that arose when restricted stock units vested and settled, meaning it was driven by tax requirements rather than a discretionary portfolio decision. After the transactions, Czachor directly held 22,345 shares of Stardust Power common stock.

Stardust Power Inc. Chief Operating Officer Chris Edward Celano reported a compensation-related equity grant and a small share sale. He received 91,636 shares of Common Stock as fully vested restricted stock units payable solely in common stock. On the same date, he sold 3,457 shares of Common Stock at a weighted average price of about $2.32–$2.33 per share to cover tax withholding obligations from the RSU vesting and settlement. After these transactions, Celano directly held 128,358 Common Stock shares.

Stardust Power Inc. Chief Operating Officer Chris Edward Celano reported a compensation-related equity grant and a small share sale. He received 91,636 shares of Common Stock as fully vested restricted stock units payable solely in common stock. On the same date, he sold 3,457 shares of Common Stock at a weighted average price of about $2.32–$2.33 per share to cover tax withholding obligations from the RSU vesting and settlement. After these transactions, Celano directly held 128,358 Common Stock shares.

AGARWAL ANUPAM reported acquisition or exercise transactions in this Form 4 filing.

Stardust Power Inc. director Anupam Agarwal reported an equity compensation grant in the form of restricted stock units. He received 11,220 RSUs payable solely in common stock, with the units described as fully vested. Following this award, Agarwal directly owns 85,171 shares of Stardust Power common stock. One footnote notes the figures reflect an adjustment for a 10-for-1 reverse stock split of the company’s common stock that was effected on September 8, 2025.

AGARWAL ANUPAM reported acquisition or exercise transactions in this Form 4 filing.

Stardust Power Inc. director Anupam Agarwal reported an equity compensation grant in the form of restricted stock units. He received 11,220 RSUs payable solely in common stock, with the units described as fully vested. Following this award, Agarwal directly owns 85,171 shares of Stardust Power common stock. One footnote notes the figures reflect an adjustment for a 10-for-1 reverse stock split of the company’s common stock that was effected on September 8, 2025.

Stardust Power Inc. reported an insider equity award to its General Counsel, Chief Compliance Officer and Secretary, Bruce Czachor. On March 6, 2026, he acquired 40,000 shares in the form of fully vested restricted stock units payable solely in common stock at a reported price of $0.00 per share. After this grant, his reported direct holdings total 40,000 shares.

Stardust Power Inc. reported an insider equity award to its General Counsel, Chief Compliance Officer and Secretary, Bruce Czachor. On March 6, 2026, he acquired 40,000 shares in the form of fully vested restricted stock units payable solely in common stock at a reported price of $0.00 per share. After this grant, his reported direct holdings total 40,000 shares.

Stardust Power Inc. entered into a Common Stock Purchase Agreement with B. Riley Principal Capital II, giving it the right to raise up to $10.0 million by selling common stock over a 36‑month period at its discretion. Purchases are priced off Nasdaq VWAP with a fixed 3.0% discount through Market Open and Intraday purchases, subject to trading, pricing and volume conditions. Nasdaq rules cap issuances at 1,972,924 shares, equal to 19.99% of shares outstanding before the agreement, unless pricing thresholds or stockholder approval remove that limit, and B. Riley’s beneficial ownership is limited to 4.99%. The company expects to use any proceeds for working capital, general corporate purposes, and to support pre‑construction, construction and long‑term growth activities.

Stardust Power Inc. entered into a Common Stock Purchase Agreement with B. Riley Principal Capital II, giving it the right to raise up to $10.0 million by selling common stock over a 36‑month period at its discretion. Purchases are priced off Nasdaq VWAP with a fixed 3.0% discount through Market Open and Intraday purchases, subject to trading, pricing and volume conditions. Nasdaq rules cap issuances at 1,972,924 shares, equal to 19.99% of shares outstanding before the agreement, unless pricing thresholds or stockholder approval remove that limit, and B. Riley’s beneficial ownership is limited to 4.99%. The company expects to use any proceeds for working capital, general corporate purposes, and to support pre‑construction, construction and long‑term growth activities.