Arcellx CEO Sells $10.2M in ACLX Stock After Options and Gifts

Arcellx CEO Cashes Out $10.2M After Month-Long Liquidity Sequence

Arcellx (ACLX) CEO and founder Rami Elghandour sold 89,916 shares at $113.92 per share on February 27, 2026 — a $10.2 million open-market sale filed with the SEC the same day. The sale is the culmination of a structured liquidity sequence: option exercises in January, share gifts in early February, then the cash-out.

After the sale, Elghandour retains 276,051 ACLX shares — still a substantial stake, but significantly reduced from his position earlier in the year.

The Full February Sequence

Date	Action	Shares	Price	Est. Value	Shares After
Jan 2, 2026	Option Exercise (M)	55,459	$0.00	—	673,378
Jan 3, 2026	Option Exercise (M)	53,098	$0.00	—	726,476
Jan 6, 2026	Option Exercise (M)	55,991	$0.00	—	782,467
Feb 11, 2026	Gift (G)	198,000	$0.00	—	365,967
Feb 11, 2026	Gift (G)	218,500	$0.00	—	563,967
Feb 27, 2026	Open-Market Sell (S)	89,916	$113.92	$10,243,267	276,051

Structured Liquidity, Not Panic

The exercise–gift–sell pattern is a hallmark of planned insider liquidity, not a sudden change in conviction. Elghandour exercised 164,548 options across three days in early January, then gifted 416,500 shares on February 11 (likely charitable or estate transfers — code G transactions carry no tax liability at transfer), and finally sold a portion on the open market.

This is not Elghandour’s first major transaction. In August 2025, a tax withholding event (code F) disposed of 546,938 shares at $70.25 — a $38.4 million mechanical disposition. He also sold $2.4 million worth at approximately $62 per share in February 2025.

Price Context: ACLX Has Nearly Doubled

ACLX stock has appreciated dramatically over the past year:

Feb 2025: ~$62 per share (Elghandour’s prior sell)
Aug 2025: ~$70 per share (tax withholding event)
Feb 2026: $113.92 per share (this sale) — up 84% year-over-year

CEOs selling into sustained strength is common practice, especially at biotech companies where stock-based compensation constitutes the majority of total pay. The 276,051 shares Elghandour still holds represent meaningful skin in the game.

Transaction Code Guide

For readers unfamiliar with Form 4 codes: M = option exercise (not a sale), G = gift/transfer (no cash changes hands), S = open-market sale (cash transaction), F = tax withholding (mandatory, not discretionary), A = equity award/grant.

What to Watch

Clinical pipeline catalysts: Arcellx is a clinical-stage biotech — upcoming data readouts or FDA milestones could shift the stock significantly
Additional insider selling: Whether other Arcellx officers or directors file Form 4 sales in the weeks ahead
Option expiration schedules: The January exercises suggest approaching expiration dates, which would make additional exercises and sales likely
Institutional positioning: Check ACLX’s holder page for 13F filer activity in the current quarter