Thomas M. Stepien, CEO and board member of Amprius Technologies, sold a combined 31,529 shares of AMPX stock worth $323,553 to cover tax withholding obligations related to the vesting of restricted stock units.
On August 21, Stepien sold 23,529 shares at an average price of $10.341 per share, totaling $243,313. The transaction occurred within a price range of $10.10 to $10.48. Three days later, on August 24, he sold an additional 8,000 shares at $10.03 per share for $80,240. The company confirmed the sales were part of a planned disposition to meet tax obligations.
Separately, Stepien registered the transfer of 15,346 shares as bona fide gifts on August 25. Of these, 346 shares were transferred to the Rogers Stepien Family Revocable Trust, where Stepien and his spouse serve as co-trustees. Following these transactions, Stepien directly holds 578,750 shares, including 568,750 restricted stock units, while the trust indirectly holds 37,260 shares.
Amprius' stock closed at $10.18 on Friday, up 3.25% or $0.32, and traded at $10.24 in after-hours activity. The shares are up 29% year-to-date despite recent volatility. InvestingPro flags the stock as overvalued relative to its Fair Value estimate, alongside 12 additional ProTips.
The company reported second-quarter revenue of $34.02 million, exceeding Wall Street expectations of $29.29 million and rising 19% from the prior quarter. Year-over-year revenue more than doubled. Adjusted earnings per share remained negative at $0.02, in line with forecasts. Amprius raised its full-year revenue guidance to at least $140 million, up from the prior $130 million target, and lifted its gross margin outlook to at least 28%. The company ended the quarter with $74.5 million in cash and no debt.
Amprius also extended its industrial lease agreement in Fremont, California, through June 2034, with options for two additional five-year renewals and annual rent adjustments.
