EFOI · Energy Focus, Inc/De
Substantial doubt about the company's ability to continue as a going concern.
“Due to our financial performance as of March 31, 2026 and December 31, 2025, including net losses of $0.1 million for the three months ended March 31, 2026 and $1.0 million for the twelve months ended December 31, 2025, and cash provided by operating activities of $0.1 million for the three months ended March 31, 2026 and cash used in operating activities of $1.4 million for the twelve months ended December 31, 2025, we determined that substantial doubt about our ability to continue as a going concern continues to exist at March 31, 2026.”View the 10-Q filed May 12, 2026
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 3, 4 and 5. Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2025-11-26 | Huang Chiao Chieh |
Director, Chief Executive Officer, 10% Owner |
Buy↑
|
Common Stock
|
262,009 |
| 2025-08-15 | Huang Chiao Chieh |
Director, Chief Executive Officer, 10% Owner |
Buy↑
|
Common Stock
|
264,550 |
| 2025-06-23 | Huang Chiao Chieh |
Director, Chief Executive Officer, 10% Owner |
Buy↑
|
Common Stock
|
110,497 |
| 2025-03-27 | Huang Chiao Chieh |
Director, Chief Executive Officer, 10% Owner |
Buy↑
|
Common Stock
|
103,627 |
| 2023-06-29 | Lee Shou-Jang |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2023-06-29 | Huang Chiao Chieh |
Director, Chief Executive Officer, 10% Owner |
Award↑
Filing footnotes — Common Stock (Direct)
Rule 16b-3 exempt acquisition from the Issuer. |
Common Stock
|
343,465 |
| 2023-04-28 | Gianas Randy Harrison |
VP Operations & Engineering |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
1,428 |
| 2023-04-28 | Warren James Raymond III |
SVP, GC & Corp. Secretary |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
30,000 |
| 2023-04-28 | Matt Lesley A. |
Chief Executive Officer |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
40,000 |
| 2023-04-28 | Gianas Randy Harrison |
VP Operations & Engineering |
Other↑
|
No Securities Owned
|
0 |
| 2023-03-30 | Huang Gina |
Director, 10% Owner |
Award↑
Filing footnotes — Common Stock (Indirect)
Rule 16b-3 exempt acquisition from the Issuer. Consists of 242,832 shares of common stock held by Brilliant Start Enterprise, Inc. ("Brilliant Start"), 120,000 shares of common stock held by Jag International Ltd. ("Jag") and 3,357,410 shares held by Ms. Huang directly. Brilliant Start and Jag are controlled affiliates of Ms. Huang. |
Common Stock
(I)
|
500,000 |
| 2023-03-28 | Huang Chiao Chieh |
Director, Chief Executive Officer, 10% Owner |
Award↑
Filing footnotes — Common Stock (Indirect)
Rule 16b-3 exempt acquisition from the Issuer. Consists of 299,520 shares of common stock held by Sander Electronics and 2,359,497 shares held by Mr. Huang directly. Sander Electronics is a controlled affiliate of Mr. Huang. |
Common Stock
(I)
|
108,502 |
| 2023-02-24 | Huang Gina |
Director, 10% Owner |
Award↑
Filing footnotes — Common Stock (Indirect)
Rule 16b-3 exempt acquisition from the Issuer. Consists of 242,832 shares of common stock held by Brilliant Start Enterprise, Inc. ("Brilliant Start"). 120,000 shares of common stock held by Jag International Ltd. ("Jag") and 2,857,410 shares held by Ms. Huang directly. Brilliant Start and Jag are controlled affiliates of Ms. Huang. |
Common Stock
(I)
|
803,212 |
| 2023-02-16 | Chang Wen-Jeng |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2023-01-17 | Huang Gina |
Director, 10% Owner |
Award↑
Filing footnotes — Common Stock (Indirect)
Rule 16b-3 exempt acquisition from the Issuer. Consists of 242,832 shares of common stock held by Brilliant Start Enterprise, Inc. ("Brilliant Start"). 120,000 shares of common stock held by Jag International Ltd. ("Jag") and 2,054,198 shares held by Ms. Huang directly. Brilliant Start and Jag are controlled affiliates of Ms. Huang. |
Common Stock
(I)
|
1,451,597 |
| 2023-01-10 | Huang Gina |
Director, 10% Owner |
Award↑
Filing footnotes — Common Stock (Indirect)
Rule 16b-3 exempt acquisition from the Issuer. Consists of 242,832 shares of common stock held by Brilliant Start Enterprise, Inc. ("Brilliant Start"). 120,000 shares of common stock held by Jag International Ltd. ("Jag") and 602,601 shares held by Ms. Huang directly. Brilliant Start and Jag are controlled affiliates of Ms. Huang. |
Common Stock
(I)
|
325,803 |
| 2023-01-05 | Huang Gina |
Director, 10% Owner |
Award↑
Filing footnotes — Common Stock (Indirect)
Rule 16b-3 exempt acquisition from the Issuer. Consists of 242,832 shares of common stock held by Brilliant Start Enterprise, Inc. ("Brilliant Start"). 120,000 shares of common stock held by Jag International Ltd. ("Jag") and 276,798 shares held by Ms. Huang directly. Brilliant Start and Jag are controlled affiliates of Ms. Huang. |
Common Stock
(I)
|
257,798 |
| 2022-09-28 | Warren James Raymond III |
SVP, GC & Corp. Secretary |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On September 28, 2020, the reporting person was granted 3,200 restricted stock units, which award vests in four equal annual installments beginning on September 28, 2021. |
Restricted Stock Units
|
800 |
| 2022-09-28 | Warren James Raymond III |
SVP, GC & Corp. Secretary |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
800 |
| 2022-09-12 | Matt Lesley A. |
Chief Executive Officer |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
150,000 |
| 2022-09-12 | Matt Lesley A. |
Chief Executive Officer |
Other↑
|
No Securities Owned
|
0 |
| 2022-09-04 | den Daas Kaj |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2022-09-04 | den Daas Kaj |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
10,000 |
| 2022-08-01 | Griffin Clifford R. |
SVP, Corp. Controller & CAO |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The award vests in four equal annual installments beginning on August 1, 2023. |
Stock Option (Right to buy)
|
6,000 |
| 2022-08-01 | Griffin Clifford R. |
SVP, Corp. Controller & CAO |
Other↑
|
No Securities Owned
|
0 |
| 2022-06-22 | Cheng Jennifer Y |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
5,000 |
| 2022-06-22 | Politziner Philip |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
5,000 |
| 2022-06-22 | Parker Jeffery Robert |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On February 22, 2022, the reporting person was granted 10,000 restricted stock units that vested on June 22, 2022, the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
10,000 |
| 2022-06-22 | Lagarto Brian J |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On February 19, 2022, the reporting person was granted 10,000 restricted stock units that vested on June 22, 2022, the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
10,000 |
| 2022-06-22 | Politziner Philip |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On February 11, 2022, the reporting person was granted 5,000 restricted stock units that vested on June 22, 2022, the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-06-22 | Cheng Jennifer Y |
Director |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On February 11, 2022, the reporting person was granted 5,000 restricted stock units that vested on June 22, 2022, the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-06-22 | Lagarto Brian J |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
10,000 |
| 2022-06-22 | Socolof Stephen |
Insider |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
5,000 |
| 2022-06-22 | Huang Gina |
Director, 10% Owner |
Convert↑
Filing footnotes — Common Stock (Indirect)
Restricted stock units convert into Common Stock on a one-for-one basis. Consists of 242,832 shares of common stock held by Brilliant Start Enterprise, Inc. ("Brilliant Start"), 120,000 shares of common stock held by Jag International Ltd. ("Jag") and 19,000 shares held by Ms. Huang directly. Brilliant Start and Jag are controlled affiliates of Ms. Huang. |
Common Stock
(I)
|
5,000 |
| 2022-06-22 | Parker Jeffery Robert |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
10,000 |
| 2022-06-22 | Huang Gina |
Director, 10% Owner |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On February 11, 2022, Ms. Huang was granted 5,000 restricted stock units that vested June 22, 2022, the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. The restricted stock units were held directly by Ms. Huang. |
Restricted Stock Units
|
5,000 |
| 2022-06-22 | Socolof Stephen |
Insider |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On February 11, 2022, the reporting person was granted 5,000 restricted stock units that vested on June 22, 2022, the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-02-22 | Parker Jeffery Robert |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2022-02-22 | Parker Jeffery Robert |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
10,000 |
| 2022-02-19 | Lagarto Brian J |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
10,000 |
| 2022-02-19 | Lagarto Brian J |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2022-02-11 | Galluccio Gregory S |
Sr. VP, Product Mgmt & Engin. |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
15,000 |
| 2022-02-11 | Politziner Philip |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock. The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-02-11 | Socolof Stephen |
Insider |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock. The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-02-11 | NESTOR TOD A |
COO and CFO |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
20,000 |
| 2022-02-11 | Huang Gina |
Director, 10% Owner |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-02-11 | Cheng Jennifer Y |
Director |
Award↑
Filing footnotes — Restricted Stock Units (Direct)
Each Restricted Stock Unit represents a contingent right to receive one share of Energy Focus, Inc. Common Stock. The Restricted Stock Units fully vest on the earlier of (i) the one year anniversary of the grant date or (ii) the date of the Company's annual meeting of stockholders next following the grant date. |
Restricted Stock Units
|
5,000 |
| 2022-02-11 | Warren James Raymond III |
SVP, GC & Corp. Secretary |
Award↑
Filing footnotes — Stock Option (Right to buy) (Direct)
Date exercisable applies to one-fourth of the total shares subject to the stock option. The remaining three-fourths vest in equal monthly installments thereafter over a three year period. |
Stock Option (Right to buy)
|
15,000 |
| 2021-09-28 | Warren James Raymond III |
SVP, GC & Corp. Secretary |
Convert↓
Filing footnotes — Restricted Stock Units (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. On September 28, 2020, the reporting person was granted 3,200 restricted stock units, which award vests in four equal annual installments beginning on September 28, 2021. |
Restricted Stock Units
|
800 |
| 2021-09-28 | Warren James Raymond III |
SVP, GC & Corp. Secretary |
Convert↑
Filing footnotes — Common Stock (Direct)
Restricted stock units convert into Common Stock on a one-for-one basis. |
Common Stock
|
800 |