Stardust Power Inc (SDST) Institutional Investor Snapshot (21 Funds, Q2 2026)

Stardust Power Inc. (SDST) disclosed that its $4.8 million senior secured convertible note held by Lind Global Asset Management went into default after the company's market capitalization stayed below $15 million for ten consecutive trading days. Under the default provisions, Lind delivered a notice of conversion and default on August 17, 2026, electing to convert $150,000 of principal at $0.492 per share, and the company issued Lind 304,878 shares of common stock on August 20. Roughly $3.43 million of principal remains outstanding on the note, though the filing cautions that this figure excludes any mandatory default amount or other sums that may become payable as a result of the default. The company received no cash proceeds from the share issuance.

In an 8-K filed on Aug. 10, 2026, Stardust Power Inc. (SDST) said its board appointed V. Ray Rivers as a director, effective immediately, with a term running until the 2027 annual meeting. Rivers will also serve on the Audit Committee and Compensation Committee, and the board determined he meets Nasdaq's independent-director standard. He brings over three decades of capital markets and financial services experience, including senior roles at Bear Stearns, Cantor Fitzgerald, and other Wall Street firms. His compensation is the company's standard non-employee director package: a pro-rated $25,000 annual cash retainer, plus $7,500 for the audit committee and $5,000 for the compensation committee, and he is expected to receive a stock grant worth approximately $100,000 at a future date.

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Stardust Power Inc. (ticker: SDST) announced that independent director Charlotte Nangolo resigned from the board and its audit and compensation committees effective July 20, 2026. She stated the resignation was for personal reasons and not due to any disagreement with the company’s operations, policies, or practices.

Stardust Power Inc. filed an 8-K on June 30, 2026, under Item 5.02, which covers changes in directors, officers, or compensatory arrangements. The filing excerpt is incomplete, so the exact nature of the change is not specified.