Amprius Technologies, Inc. reported a series of insider and corporate financing moves at the end of 2025 and the start of 2026 that coincide with an upcoming change in executive leadership.
On January 28, 2026, Chief Technology Officer Stefan Constantin Ionel sold 39,690 shares of the company's common stock at a per-share price of $12.0018, generating proceeds of approximately $476,351. That same day, Ionel exercised options to acquire 39,690 shares of Amprius common stock. The exercised options carried strike prices that ranged from $0.05 to $0.62, and the total cost of exercising those options was $2,035.
Following the exercise and the sale, Ionel's direct holdings in Amprius amount to 748,696 shares of common stock. That total includes 585,697 restricted stock units that remain part of his direct ownership position.
Separately, Amprius completed an at-the-market (ATM) equity offering with an $100 million program. The company sold 25.5 million shares under that program and generated approximately $97.5 million in net proceeds from the sale.
Those financing activities come as Amprius prepares for a formal management transition. Tom Stepien is scheduled to take over as chief executive officer effective January 1, 2026. Current CEO Dr. Kang Sun will step down as CEO at the end of 2025 and will move into an Executive Advisor role beginning in January 2026, while remaining a member of the Board of Directors. The company also announced changes to Dr. Sun's employment agreement effective January 2026 that outline his compensation and benefits after the transition.
Market analysts have noted the leadership turnover in their coverage. Oppenheimer has maintained an Outperform rating on Amprius, describing the leadership change as a new phase for the company. Needham has launched coverage with a Buy rating and a $20.00 price target, specifically highlighting Amprius' footprint in the unmanned aerial systems battery market.
Taken together, the insider transaction, the ATM offering and the management handover mark a period of coordinated financial and governance activity at Amprius as it moves into 2026.