Thomas Siebel, CEO and chairman of C3.ai (AI), has filed 89 Form 4 transactions, all in a single company. The pattern is one-sided: zero open-market purchases and roughly $121.1 million in total sales. The recent activity, spanning June through September 2026, shows 11 sales against no buys, with the largest single disposition on August 11 at $4.76 million. Smaller sales occurred on September 15 ($3.07 million) and July 14 ($2.40 million), with additional transactions ranging from $174,000 to $1.34 million.
The sales are frequently paired with option exercises (code M), which mechanically convert holdings into shares that are then sold. For example, the September 16 sale of $1.71 million was matched with an exercise valued at $632,763, and the August 11 sale of $4.76 million came with an exercise of $1.77 million. Several exercises on September 1, September 11, and August 2 carried a value of zero, indicating they were likely near-the-money or expired options. The filings also include gifts (code G) on September 14, September 3, August 4, and June 15, which transfer shares without cash changing hands.
The sell bias is consistent and unbroken. Siebel has not recorded a single purchase in the data, and the dollar value of sales has been steady across the three-month window. The largest single-day sale, $5.24 million on June 15, was also paired with an exercise of $962,890. The pattern is one of regular, periodic liquidation of shares, often tied to option exercises, with no indication of accumulation.
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