Ouster’s general counsel Megan Chung sells $23,536 in stock

In a recent transaction reported to the Securities and Exchange Commission, Megan Chung, General Counsel and Secretary of Ouster, Inc. (NYSE:OUST), sold 3,085 shares of the company’s common stock. The lidar technology company, currently valued at $394 million, has seen its stock surge nearly 60% over the past year despite recent volatility. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value, with 8 additional exclusive insights available to subscribers. The shares were sold at a weighted average price of $7.6292, amounting to a total transaction value of approximately $23,536.

The sale was made to cover withholding taxes incurred upon the vesting and settlement of restricted stock awards, as initiated by Ouster on Chung’s behalf. Following this transaction, Chung retains ownership of 146,562 shares in the company. The shares were sold in multiple transactions, with prices ranging from $7.4141 to $7.6323.

In other recent news, Ouster, Inc. announced a preliminary update on its fourth-quarter revenue for 2024, expecting to meet its previously announced guidance range of $29 million to $31 million. These figures are still subject to final adjustments as part of the company’s customary financial closing procedures. Additionally, Ouster’s Chief Financial Officer, Mark Weinswig, will step down effective January 31, 2025, to pursue another career opportunity. Chen Geng, currently the Vice President of Strategic Finance and Treasurer, will serve as the Interim CFO starting on the same date. CEO Angus Pacala expressed gratitude for Weinswig’s contributions, while Weinswig voiced confidence in Ouster’s future. The company has initiated the search for a permanent CFO to continue its strategic financial leadership. These developments are part of Ouster’s ongoing efforts to maintain its trajectory in the industry.

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