Key Points
Siebel indirectly sold 532,832 shares for a transaction value of ~$7.6 million across two days ending Dec. 17, 2025.
All shares were disposed of via indirect entities, primarily The Siebel Living Trust, as outlined in the Form 4 footnotes.
The transaction size is broadly in line with Siebel's historical sell cadence and reflects shrinking capacity as direct and indirect holdings have declined by over 90% since March 2025.
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Thomas Siebel, founder and executive chairman of C3.ai (NYSE:AI), indirectly sold 532,832 shares over two open-market transactions on Dec. 16 and 17, 2025, for approximately $7.6 million as disclosed in the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold | 532,832 |
| Shares sold (indirect) | 532,832 |
| Shares traded (indirect) | 532,832 |
| Transaction value | $7.6 million |
| Post-transaction shares (direct) | 722,362 |
| Post-transaction shares (indirect) | 2,431,165 |
| Post-transaction value (direct ownership) | $10.4 million |
Transaction value based on SEC Form 4 weighted average purchase price ($14.33); post-transaction value based on Dec. 17, 2025 market close ($14.33).
Key questions
- How were the shares attributed between direct and indirect ownership?
All 532,832 shares were disposed of through indirect entities, chiefly The Siebel Living Trust, as specified in the footnotes and ownership context; Siebel's direct holdings were unchanged at 722,362 shares post-transaction. - What is the context for this transaction versus Siebel's historical cadence and capacity?
Since March 2025, Siebel has executed 18 sell trades, each with a median size of roughly 538,269 shares, and his cumulative holdings have declined by over 7.3 million shares (91%). - How did the transaction price relate to prevailing market conditions?
The weighted average sale price was around $14.33 per share, with the stock priced at $14.05 at the Dec. 17 market close; this follows a one-year period in which C3.ai shares declined by 58.77% as of the transaction date.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 12/17/25) | $14.33 |
| Market capitalization | $1.96 billion |
| Revenue (TTM) | $352.91 million |
| 1-year price change | -58.77% |
* 1-year price change calculated using Dec. 17, 2025 as the reference date.
Company snapshot
- Offers enterprise AI software platforms and applications, including C3 AI Application Platform, Ex Machina, CRM, Data Vision, and industry-specific solutions for inventory optimization, supply chain risk, predictive maintenance, and fraud detection.
- Generates revenue primarily through software subscriptions and services, enabling organizations to design, deploy, and scale AI-powered enterprise applications.
- Targets large enterprises across sectors such as oil and gas, manufacturing, financial services, defense, healthcare, and telecommunications, with a focus on global markets.
C3.ai is a technology company specializing in enterprise artificial intelligence software, serving a diverse, global client base. The company leverages strategic partnerships with industry leaders to deliver scalable AI solutions tailored to complex business needs. Its platform-centric approach and focus on mission-critical applications position it as a key player in the rapidly evolving enterprise AI landscape.
What this transaction means for investors
Thomas Siebel, the billionaire tech entrepreneur who founded C3.ai and previously sold Siebel Systems to Oracle for $5.8 billion, unloaded more than half a million shares in mid-December as the enterprise AI company navigates a turbulent period. The sales, totaling approximately $7.6 million, were made through a pre-arranged trading plan established in September 2024.
The sales came weeks after C3.ai reported fiscal second-quarter earnings showing stabilization following a bruising year. Despite beating analyst expectations, the stock plunged more than 50% in 2025, falling from its 52-week high of $38.58 to around $14 as of this writing. The company's 52-week low sits at $12.59.
Siebel stepped down as CEO in September, transitioning to executive chairman while Stephen Ehikian took over. The company reported $75.1 million in fiscal second-quarter revenue, up 7% sequentially, with strong federal government business offsetting commercial softness. However, C3.ai remains deeply unprofitable.
Long-term investors may find opportunity in C3.ai's federal momentum and stabilizing operations, though persistent losses and execution challenges require close monitoring before the turnaround becomes convincing.
Glossary
Form 4: A required SEC filing reporting insider trades of company securities by officers, directors, or significant shareholders.
Indirect ownership: Shares held through trusts, entities, or other accounts not directly in the individual's name.
Living trust: A legal entity holding assets for an individual's benefit, often used for estate planning and privacy.
Open-market transaction: Buying or selling securities on public exchanges, not through private or pre-arranged deals.
Weighted average price: The average price of shares sold or bought, weighted by the number of shares at each price.
Disposition: The act of selling or otherwise transferring ownership of an asset or security.
Ownership capacity: The total number of shares an insider is able to sell, based on current holdings.
Cadence (in trading): The frequency or regularity with which transactions, such as insider sales, occur over time.
Direct ownership: Shares held in the individual's own name, not through trusts or other entities.
Insider: A company executive, director, or major shareholder with access to non-public company information.
Transaction value: The total dollar amount received or paid in a securities transaction.
TTM: The 12-month period ending with the most recent quarterly report.
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Sara Appino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Oracle. The Motley Fool recommends C3.ai. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
