Satellite Communication Executive Sells $3.6 Million Stake After Exercising Stock Options

According to a recent regulatory filing, AST SpaceMobile, Inc. (NASDAQ: ASTS) Chief Technology Officer Huiwen Yao sold all 40,000 Class A common shares she acquired by exercising stock options on March 11. The shares were disposed of on March 23 at an average price of approximately $88.88 per share, generating roughly $3.6 million (about ₩5 billion) in proceeds. The transactions, executed at various price levels, were conducted under a 10b5-1 trading plan established in June 2025. After this sale, Yao’s remaining holding of the company’s common stock stands at about 4,750 shares. Separately, the filing confirms that Chairman and CEO Abel Avellan controls 20.8% of the company’s Class A common stock through AST Common Units and Class C shares, equating to approximately 71.7% of voting power, and has made no additional trades or adopted any new trading plans in the past 60 days.

The company is also executing a major capital restructuring. It has privately placed $1 billion of 2.25% convertible senior notes due 2036 and used part of those proceeds to early-redeem over $400 million aggregate principal of its 4.25% and 2.375% convertible notes due 2032. In its upcoming fourth-quarter and full-year 2025 earnings release, AST SpaceMobile plans to provide an updated launch schedule and business update targeting the deployment of 45–60 low-Earth-orbit satellites by the end of 2026. The company has also been highlighted by global media outlets as an “innovative space company,” boosting its public profile.

AST SpaceMobile, based in Texas, is building a space-based cellular broadband network that ordinary smartphones can access directly. By partnering with terrestrial mobile operators, the company intends to offer voice and data services without the need for specialized hardware. AST SpaceMobile has already forged partnerships with major carriers such as AT&T and Vodafone and is advancing a strategy to commercialize its services across North America, Europe and Asia.