Stardust Power loses 'controlled company' status after CEO transfers 2.88M shares to trust

Stardust Power Inc.

CEO Roshan Pujari transferred 2,880,000 shares for no consideration to an irrevocable trust for a family member on Apr 16-17, 2025.
After the transfer, Mr. Pujari no longer holds >50% voting power, so Stardust Power ceases to be a Nasdaq-controlled company.
The Company had not availed itself of any controlled company exemptions, so no governance changes are required.
The Board of Directors approved the transfer for estate planning purposes.

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