Key Points
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The notable CEO sold ~444,000 shares at a weighted average price of $10.77 per share, representing a total transaction value of ~$4.8 million.
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The traded shares equaled 5% of the total stake held before the filing, while the direct position of 722,362 shares remained unchanged due to the simultaneous exercise of options.
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Indirect ownership totaling ~8.6 million shares is maintained through The Siebel Living Trust, First Virtual Holdings, Siebel Asset Management, Siebel Asset Management III, and The Siebel 2011 Irrevocable Children's Trust.
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Thomas M. Siebel, Chief Executive Officer and Chairman of the Board at C3.ai, Inc. (NYSE:AI), executed a sale of 444,248 shares of Class A Common Stock on September 15, 2026 and September 16, 2026, according to a recent SEC Form 4 filing.
Transaction summary
Transaction value based on SEC Form 4 weighted average sale price ($10.77); post-transaction value based on September 16, 2026 market close ($10.56).
Key questions
- What was the structural nature of this disposition?
The transaction was a cashless exercise and sale involving 444,248 options with a strike price of $3.90, which were converted to Class A Common Stock and immediately sold on the open market. - How much direct equity does the insider retain?
Following this transaction, Siebel holds 722,362 shares directly and ~2.1 million derivative securities, which include both vested and unvested awards. - Which entities facilitate the insider's indirect ownership?
The indirect position is distributed across several legal entities, with the largest concentration in The Siebel Living Trust, which holds 7,105,019 shares, followed by The Siebel 2011 Irrevocable Children's Trust with ~1.2 million shares. - What is the current valuation context for the stock?
As of the September 17, 2026 market close, the stock was priced at $10.78, following a -40% one-year total return as of the September 16, 2026 transaction date.
Company Overview
Company Snapshot
- C3.ai provides enterprise artificial intelligence software solutions, with primary revenue derived from its C3 AI Application Platform, a comprehensive environment for developing, deploying, and operating enterprise-scale AI applications, supplemented by specialized tools including C3 AI Ex Machina for data preparation and C3 AI CRM for customer relationship management.
- The company operates on a software-as-a-service (SaaS) business model, generating revenue through licensing fees and subscription arrangements for its AI platform and specialized applications to enterprise customers globally.
- C3.ai serves large-scale enterprises across North America, Europe, the Middle East, Africa, and the Asia Pacific region, targeting organizations seeking to develop and deploy mission-critical artificial intelligence applications at scale.
C3.ai is a leading provider of enterprise AI software solutions with a global footprint spanning multiple regions and a workforce of 764 employees. The company has established itself as a significant player in the enterprise AI application platform market, with TTM revenues of $232.4 million and a market cap of $1.6 billion.
C3.ai's competitive differentiation centers on its comprehensive platform approach, enabling enterprises to accelerate AI development and deployment cycles while reducing time-to-value for artificial intelligence initiatives.
What this transaction means for investors
The sale of C3.ai stock on September 15 and 16 by CEO Thomas Siebel took place after shares had fallen 40% in the past year. However, this was not a market-timed investment decision.
Rather, it was a non-discretionary transaction executed as part of a pre-established Rule 10b5-1 plan. Such plans allow insiders to sell shares at predetermined times to avoid concerns of trading on non-public information.
Post-disposition, Siebel continues to maintain millions of shares. This substantial equity position in C3.ai ensures his continued alignment with shareholder interests.
Shares of the company Siebel founded have plunged over the past year because the CEO had to step away from his role in 2025 due to health concerns. He returned to the position in June, but in the interim, C3.ai fell on hard times.
With Siebel back at the helm, the company reported a 73% quarter-over-quarter increase in customer bookings, a sign that business is ramping back up.
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Robert Izquierdo has positions in C3.ai. The Motley Fool recommends C3.ai. The Motley Fool has a disclosure policy.