AST SpaceMobile (ASTS) shares rose 1% overnight Thursday after fresh regulatory filings revealed a new senior commercial executive and a substantial equity award.
The filings identified Wayne Thorsen as AST SpaceMobile’s executive vice president and chief commercial officer, signaling a major leadership addition as the company advances toward full commercialization.
A separate Form 4 disclosed a 200,000-RSU award dated Monday, with units vesting one-third annually over three years, each representing a contingent right to one Class A share.
At Thursday’s closing price of $57.04, the 200,000 shares carried a total value of approximately $11.4 million, underscoring the significance of the appointment.
Thorsen most recently served as SiriusXM’s executive vice president and chief operating officer until July, bringing deep experience in wireless distribution and devices.
He previously served as ADT’s chief business officer and spent nearly five years as Google’s vice president of devices and services business development, overseeing partnerships spanning Google Fi, Pixel, Nest, Fitbit and other products.
His arrival coincides with a pivotal moment for AST as the three largest U.S. wireless carriers formalized a joint satellite connectivity venture on Thursday.
AT&T, T-Mobile and Verizon announced they had entered into a joint venture to expand satellite-enabled connectivity in underserved areas across the U.S., formalizing an initiative first announced in May.
Industry veteran Paul Roth was named interim CEO of the venture, which aims to reduce dead zones and establish common technical specifications across a technology-neutral platform.
For ASTS investors, a key detail emerged: existing carrier-satellite agreements will remain intact, and each carrier retains the ability to pursue connectivity initiatives independently.
This matters because AT&T and Verizon already maintain active partnerships with AST SpaceMobile, while T-Mobile’s direct-to-cell partner is Starlink.
AT&T CEO John Stankey addressed the carrier’s position in May, stating: “We’ve had a great relationship with AST SpaceMobile,” and confirming AT&T would “continue on that path.”
AST CEO Abel Avellan also welcomed the original joint venture plan, saying AST intended to be a “key enabler of this transformation” as it expands its low-Earth-orbit network and available spectrum.
AST later confirmed its existing agreements were “not affected” by the proposed joint venture and suggested the structure could potentially open additional U.S. carrier opportunities for the company.
Despite these developments, ASTS stock fell 3.1% to $57.04 on Thursday, extending its losing streak to four sessions and pushing its weekly decline to 8%.
The stock has dropped even as operational milestones accumulated, including the shipment of BlueBirds 14, 15 and 16 to Cape Canaveral ahead of launch.
CEO Avellan also met with FCC Chairman Brendan Carr as the company lobbied for expanded spectrum access to support direct-to-device satellite service.
Retail sentiment on Stocktwits dipped slightly within bullish territory amid high message volumes, with users debating whether the carrier joint venture expanded AST’s opportunity or amplified competition from Starlink.
One user highlighted the tech-neutral structure, noting that carriers could “work with whoever. Not just ASTS,” while another pointed to T-Mobile’s existing Starlink relationship as a competitive concern.
A more bullish user said they were “pretty stoked” about developments surrounding the “MNO JV,” adding: “It’s gonna be some ride for sure.”
Competition in the direct-to-device satellite space continues to intensify, with SpaceX President Gwynne Shotwell stating in August that the company intended to make Starlink “a true mobile service” and expected to win “quite a few” customers from the major carriers.
ASTS stock has declined 21% year-to-date, leaving investors to weigh near-term pressure against the company’s expanding commercial infrastructure and carrier relationships.
