US IoT Company CEOs and CTOs Sell Hundreds of Millions in Company Shares Simultaneously

On January 6, 2026, U.S. time, at Samsara Inc. (IOT), CEO Sanjit Biswas and CTO John Bicket each internally converted millions of their Class B common shares into Class A common shares and then sold roughly 260,000 Class A shares apiece on the open market under pre-arranged Rule 10b5-1 trading plans.

Biswas sold about 260,000 shares through a family trust, raising approximately $9 million, and Bicket disposed of a similar stake for around $9.1 million (each equivalent to roughly ₩12 billion). According to the filing, both executives still retain indirect holdings in the millions to tens of millions of shares, leaving a substantial portion of their economic interests tied to the company’s performance.

The Class B-to-Class A conversions were executed at $0 per share, involving no cash inflow and serving only to adjust the equity structure, whereas the subsequent open-market sales were classified as liquidity-generating transactions.

In its third quarter of fiscal 2025, Samsara reported revenue of $416 million and adjusted EPS of $0.15, beating market expectations. After raising its full-year outlook, the stock jumped about 14% following the announcement. (barrons.com)

In the prior second quarter, the company also exceeded revenue and profit forecasts and raised its annual revenue and earnings guidance, maintaining strong performance momentum and highlighting subscription-based recurring revenue well above $1 billion annually. (investopedia.com)

Founded in 2015 by Sanjit Biswas and John Bicket and headquartered in San Francisco, Samsara is an IoT-based software company that connects physical operations data—from vehicles, equipment, and field activities—to a cloud platform to enhance safety and efficiency. It serves tens of thousands of customers across transportation, construction, logistics, manufacturing, and the public sector—primarily in North America and Europe—and its Class A common stock trades on the New York Stock Exchange under the ticker “IOT.” (en.wikipedia.org)