Nealis Jing, Chief Financial Officer of SES AI Corp (NASDAQ:NYSE: ), a company currently valued at $375 million and trading at $0.93 per share, has recently conducted a series of stock transactions. According to InvestingPro data, the stock has shown significant volatility, falling over 18% in the past week. On January 16, Jing sold 50,000 shares of Class A Common Stock at $1.02 per share, for a total of $51,000. This sale was part of a predetermined trading plan under Rule 10b5-1.
In addition to the sale, Jing exercised stock options to purchase 50,000 shares at $0.16 per share, for a total of $8,000. In addition, 12,693 shares were retained to cover tax liabilities associated with the grant of restricted stock units, valued at $1.04 per share, for a total of $13,200. After these transactions, Jing has 1,932,629 shares directly owned.
In other recent news, SES AI Corporation has made significant progress in its business. The company unveiled a new artificial intelligence-enhanced 2170 cylindrical cell at CES 2025, primarily designed for use in humanoid robots and high-energy applications in robotics and drones. This innovative battery includes an electrolyte material discovered through the Molecular Universe project, in collaboration with NVIDIA (NASDAQ: ) and other partners.
The company also announced the successful completion of key safety tests for its 100 mPOWER B-pattern lithium metal cells during its Q3 2024 earnings call. These developments, along with the conclusion of supply agreements, including one with SoftBank ( TYO: ), are expected to generate significant revenue. SES AI reported a strong financial position, ending the third quarter with $274 million in liquidity, ensuring a strong balance sheet through 2028.
However, the company also announced the immediate resignation of board member Brian Krzanich, following his appointment as CEO Cerence Inc (NASDAQ:). The effect of this transition on the company’s management and strategic direction remains to be seen. These are the latest developments in the business of SES AI Corporation.
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