Stardust Power Inc. (NASDAQ: SDST) reported insider activity on March 20, 2026 that saw Chief Operating Officer Chris Edward Celano both sell and receive company stock, according to a Form 4 filing with the Securities and Exchange Commission.
On that date Celano sold 3,457 shares of common stock for approximately $8,020 in aggregate proceeds. The disposition occurred at prices ranging from $2.32 to $2.33 per share. Those sales followed by the close of markets reflect a modest cash realization relative to his total holdings.
Also on March 20, 2026, Celano was granted 91,636 restricted stock units (RSUs) in Stardust Power. The filing states that the RSUs are fully vested and were issued at no cost. After accounting for both the sale and the grant, Celano now directly owns 128,358 shares of the company.
Market context for SDST at the time of the filing shows the stock trading at $2.45 per share. The share price is down 64% over the prior 12 months, and the company carries a market capitalization of $23.81 million.
Independent analysis noted in the filing indicates that InvestingPro considers the stock to be undervalued at current levels. The same analysis highlights the company is "quickly burning through cash" and remains unprofitable, with InvestingPro assigning a weak financial health score. The filing references availability of a Pro Research Report covering SDST among 1,400-plus U.S. equities for those seeking deeper analysis.
Operationally and financially, Stardust Power disclosed improvements and new resources in recent company updates. For the fiscal year ending December 31, 2025, Stardust reported a net loss of $15.7 million, an improvement from a $23.8 million loss in 2024. Management attributed the narrower loss to lower financing charges and reduced general and administrative expenses.
On the financing front, Stardust has arranged an equity purchase agreement with B. Riley Principal Capital II, LLC that provides up to $10 million in capital over a 36-month facility. The agreement permits the company to sell shares at its discretion under the terms of the facility to support objectives including pre-construction activities and long-term growth.
In permitting and operations, Stardust received a final major approval for its planned lithium refinery in Muskogee, Oklahoma. The Oklahoma Department of Environmental Quality issued an air quality construction permit that completes the regulatory requirements cited in the filing. Once brought online, the refinery is expected to produce up to 50,000 metric tons of battery-grade lithium carbonate annually.
Taken together, the insider transactions and the corporate updates reflect a combination of personal equity activity by a senior executive and several material company developments related to financing, permitting, and a reduction in net losses year over year.