Santa Clara, California, April 6, 2026, 14:13 PDT
Regulatory filings released Friday reveal Oklo insiders unloaded shares last week, but the numbers don’t quite match up with the $21 million figure circulating in some market summaries. A closer look at the paperwork puts the total closer to $10.9 million. Co-founders Jacob DeWitte and Caroline Cochran disclosed April 1 stock sales executed through pre-set Rule 10b5-1 trading plans. CFO Richard Bealmear, on the other hand, posted a separate sale following an option exercise.
That difference is key: Oklo hasn’t posted revenue yet, fell short of quarterly earnings targets in March, and now says it’ll burn more cash this year as it advances projects across the company. Investors have to figure out if the stock sales were just standard liquidity moves—or if they’re reading something more into them.
Oklo was changing hands at $48.76 Monday afternoon. January brought a wave of interest after Meta announced plans to support as much as 1.2 gigawatts of Oklo’s Ohio capacity—a move reflecting tech firms’ rush to secure power for AI data centers.
DeWitte’s disclosure showed sales of 100,000 shares, first from his own and trust accounts, then it listed identical sales in his spouse’s holdings. Cochran’s form does the same, but flips the order. Tallying both founders’ filings as-is effectively double-counts these family-linked trades.
Founder-linked selling totaled close to 200,000 shares, fetching approximately $10.1 million. Even after the transactions, both founders reported substantial direct and indirect stakes—mainly via family trusts.
Bealmear, in a separate disclosure, exercised 16,342 options at $3.18 apiece and sold those same shares for $51.08, all under a 10b5-1 plan set up in September 2025. After the move, his direct Class A holdings stood at 386,008 shares, according to the filing.
Oklo ended 2025 with zero revenue, posting a net loss of $105.7 million. Cash and cash equivalents stood at $788.4 million as the year closed. Looking ahead, the company projects it will spend between $80 million and $100 million on operating expenses in 2026, with investment outflows pegged at $350 million to $450 million.
Analysts are divided after the results. Sameer Joshi at HC Wainwright pointed out that Oklo’s products remain “still in the development stage” and highlighted July 4, 2026 as the key date to watch. Needham’s Sean Milligan, on the other hand, noted “solid execution and a strengthened balance sheet” for the quarter. Earlier in March, both Goldman Sachs and Citigroup trimmed their price targets. Benzinga
Oklo isn’t the only player chasing tech-driven nuclear deals. Back in January, Meta locked in nuclear power agreements with TerraPower and Vistra. Microsoft, for its part, is linked to Constellation Energy’s push to bring Three Mile Island back online for data center energy needs.
Still, the outlook is far from clear. According to Reuters, not a single U.S. small modular reactor—those compact, factory-made nuclear units—has begun commercial operations. Developers remain tangled in issues around costs, fuel supply, and licensing. Oklo itself highlights in its filings that any delay or snag in financing, regulatory approvals, fuel sourcing, or construction could blow up its deployment timeline.
During Oklo’s March earnings call, DeWitte described 2025 as a “step change year,” pointing to policy support as a “very strong tailwind” for the industry. New filings confirm insider selling did take place and was significant, though not as large as the more exaggerated numbers that initially made the rounds following the disclosures. The Motley Fool
