US IoT Founders Liquidate Shares Worth Billions

On January 6, 2026, Samsara Inc. (NYSE: IOT) disclosed that co-founders and CEO Sanjit Biswas and CTO John Bicket have converted millions of their Class B common shares into Class A common shares through family trusts and related entities. The non-cash transaction was recorded at a zero-dollar conversion price for reporting purposes, effectively shifting their holdings from direct ownership into indirect ownership under trusts and spouses’ names. Under pre-established Rule 10b5-1 trading plans, each executive sold roughly 260,000 of the converted shares, raising about $9.0 million for Biswas and $9.1 million for Bicket—approximately $18 million in total, or roughly KRW 24 billion. Despite the sales, both executives still retain tens of millions of shares.

Samsara is set to release its fourth-quarter and full-year fiscal 2026 results on March 5 (U.S. time), followed by an earnings webcast. In its fiscal third quarter—reported at the end of 2025—the company beat revenue and profit estimates and raised its full-year guidance, sustaining its growth momentum as an IoT-based operations-management stock.

Founded in 2015 by Sanjit Biswas and John Bicket, Samsara is a San Francisco–based software company that uses the Internet of Things to gather real-time data from vehicles, equipment, and field operations, enhancing safety and efficiency in logistics and physical operations across transportation, construction, energy, and other industries. Since its 2021 IPO on the New York Stock Exchange, the company has rapidly expanded its customer base and partner ecosystem in North America and Europe, surpassing $1 billion in annual recurring revenue in 2023.