Nealis Jing, the Chief Financial Officer of SES AI Corp (NASDAQ:NYSE:SES), a company currently valued at $375 million and trading at $0.93 per share, recently executed a series of stock transactions. According to InvestingPro data, the stock has shown significant volatility, dropping over 18% in the past week. On January 16, Jing sold 50,000 shares of Class A Common Stock at a price of $1.02 per share, totaling $51,000. This sale was part of a pre-established Rule 10b5-1 trading plan.
In addition to the sale, Jing exercised stock options to acquire 50,000 shares at a cost of $0.16 per share, amounting to $8,000. Furthermore, 12,693 shares were withheld to cover tax obligations related to the vesting of restricted stock units, valued at $1.04 per share, totaling $13,200. Following these transactions, Jing holds 1,932,629 shares in direct ownership.
In other recent news, SES AI Corporation has made significant strides in its operations. The company introduced a new AI-enhanced 2170 cylindrical cell at CES 2025, designed primarily for use in humanoid robots and high-energy applications in robotics and drones. This innovative battery incorporates an electrolyte material discovered through the Molecular Universe project, a collaboration with NVIDIA (NASDAQ:NVDA) and other partners.
The company also announced the successful completion of key safety tests for its 100 mPOWER lithium metal B-sample cells during its third quarter 2024 earnings call. These developments, along with the establishment of supply agreements, including one with SoftBank (TYO:9984), are expected to generate substantial revenue. SES AI reported a strong financial standing, ending the third quarter with $274 million in liquidity, ensuring a robust balance sheet through 2028.
However, the company also announced the immediate resignation of board member Brian Krzanich, following his appointment as CEO of Cerence Inc (NASDAQ:CRNC). The effect of this transition on the company's governance and strategic direction remains to be seen. These are the recent developments in SES AI Corporation's operations.
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