Kelly F. Goodman, who serves as Chief Strategy Officer and General Counsel at ESS Tech, Inc. (NYSE: GWH), reported the sale of 2,269 shares of the company’s common stock on February 20, 2026, according to a Form 4 filed with the Securities and Exchange Commission.
The disposals were executed at $1.54 per share, producing a total transaction value of $3,494. The company disclosed that the sale was undertaken to meet tax withholding obligations associated with the vesting of restricted stock units. After the transaction, Goodman directly holds 215,853 shares of ESS Tech, a stake that includes a portion held in restricted stock units.
ESS Tech’s public share price has been under pressure, falling 54% over the past 12 months to a quoted level of $1.66. Market-analysis referenced by the company notes that InvestingPro’s assessment finds the stock appears undervalued relative to Fair Value estimates. Separately, ESS Tech’s Pro Research Report calls out rapid cash consumption as one of 14 key insights on the company, indicating liquidity is an active consideration.
Beyond the insider sale, ESS Tech has moved on several strategic and financing fronts:
- Capital raise - The company completed a registered direct offering that brought in approximately $15 million through the sale of 8,571,428 shares of common stock and pre-funded warrants, at a premium price of $1.75 per share.
- Intellectual property and asset acquisition - ESS Tech acquired VoltStorage GmbH’s intellectual property and assets, which include developments in iron-salt battery technology. The company says this acquisition is intended to strengthen its long-duration energy storage offerings by integrating complementary technologies and personnel with relevant expertise.
- Leadership addition - Randall "Randy" Selesky was named Chief Commercial Officer. Selesky, who has over 20 years of experience in the energy sector, will be responsible for the company’s global commercial strategy and business development efforts.
These moves collectively signal ESS Tech’s focus on shoring up capital and expanding its technological base in long-duration energy storage. The registered direct offering and the IP acquisition were both disclosed by the company as recent developments affecting operations and strategic direction.
While the insider transaction was a modest sale conducted to satisfy tax obligations from vested restricted stock units, it occurred against a backdrop of broader company activity - a meaningful capital raise, a targeted acquisition of battery-related intellectual property, and the appointment of an experienced commercial executive. Investors and market participants tracking ESS Tech have additional data points to weigh, including the company’s reported cash consumption profile and third-party valuation signals referenced in InvestingPro analysis.
Given the details supplied in the filings and company notices, the immediate factual record is limited to the transaction specifics, the financing terms, the scope of the IP acquisition as described by the company, and the executive appointment. The longer-term operational or financial outcomes from the acquisition, the capital raise, and the leadership change are not detailed in the filings referenced here.