Core Scientific CLO sells 10K shares, moves 700K to trust
Core Scientific’s chief legal officer sold shares under a Rule 10b5-1 plan and made charitable and estate-planning transfers while retaining a large equity stake.
Rhea-AI Filing Summary
Core Scientific, Inc. (CORZ) reported that its Chief Legal and Administrative Officer, Todd M. Duchene, sold 10,000 shares of common stock on September 8, 2026 at a weighted average price of $18.6735 per share under a Rule 10b5-1 trading plan adopted on December 5, 2025, leaving him with 1,217,896 shares held directly. On September 9, 2026, he made a charitable donation of 95,000 Tranche 1 Warrants, each exercisable for one share of common stock at $6.81 per share until January 23, 2027, with 422,133 such warrants remaining. A separate transfer on September 10, 2026 moved 700,000 shares of common stock into a grantor retained annuity trust of which he is the sole trustee, which are now reported as held indirectly.
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Insider Trade Summary 10b5-1
Net Seller: 10,000 shares
Net Sell
3 txns
Insider
DUCHENE TODD M
Role
See remarks
Sold
10,000 shs ($187K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Tranche 1 Warrants F5, F6 | 95,000 | $0.00 | $0.00 |
| Sale | Common Stock F1, F2, F3 | 10,000 | $18.6735 | $187K |
| holding | Common Stock F3, F4 | -- | -- | -- |
Holdings After Transaction:
Tranche 1 Warrants — 422,133 contracts (Direct);
Common Stock — 1,217,896 shares (Direct);
Common Stock — 700,000 shares (Indirect, By GRAT)
Footnotes (6)
- F1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.
- F2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.18 to $19.02, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
- F3. Reflects the transfer of 700,000 shares that the Reporting Person held directly to a grantor retained annuity trust of which the Reporting Person is the sole trustee on September 10, 2026, which transfer was exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended.
- F4. Represents shares held by a grantor retained annuity trust of which the Reporting Person is the sole trustee.
- F5. Reflects a charitable donation.
- F6. Each whole Tranche 1 Warrant entitles the registered holder to purchase one whole share of the Issuer's common stock at an exercise price of $6.81 per share, subject to certain adjustments.
Key Figures
Common shares sold: 10,000 shares
Weighted average sale price: $18.6735 per share
Direct common shares held after sale: 1,217,896 shares
+5 more
8 metrics
Common shares sold
10,000 shares
Sale of Core Scientific common stock on September 8, 2026
Weighted average sale price
$18.6735 per share
Weighted average price for 10,000 shares sold on September 8, 2026
Direct common shares held after sale
1,217,896 shares
Direct holdings of common stock after the September 8, 2026 sale
Indirect common shares via GRAT
700,000 shares
Shares held by a grantor retained annuity trust after transfer on September 10, 2026
Tranche 1 Warrants donated
95,000 warrants
Charitable donation of Tranche 1 Warrants on September 9, 2026
Tranche 1 Warrants held after donation
422,133 warrants
Direct Tranche 1 Warrant holdings following the charitable donation
Tranche 1 Warrant exercise price
$6.81 per share
Each whole Tranche 1 Warrant exercisable for one share of common stock
Tranche 1 Warrant expiration
January 23, 2027
Expiration date of Tranche 1 Warrants reported in the filing
Key Terms
Rule 10b5-1 trading plan, grantor retained annuity trust, bona fide gift, exercise price
4 terms
Rule 10b5-1 trading plan regulatory
"The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
grantor retained annuity trust financial
"Reflects the transfer of 700,000 shares that the Reporting Person held directly to a grantor retained annuity trust"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
bona fide gift financial
"Reflects a charitable donation."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
exercise price financial
"to purchase one whole share of the Issuer's common stock at an exercise price of $6.81 per share"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
What insider transactions did CORZ’s Chief Legal and Administrative Officer report?
Todd M. Duchene reported three events: a sale of 10,000 common shares on September 8, 2026, a charitable donation of 95,000 Tranche 1 Warrants on September 9, 2026, and a transfer of 700,000 shares into a grantor retained annuity trust on September 10, 2026.
What are the terms of the Tranche 1 Warrants reported in the CORZ Form 4?
Each Tranche 1 Warrant entitles the holder to purchase one share of Core Scientific common stock at an exercise price of $6.81 per share, subject to adjustments, and is exercisable until January 23, 2027, according to the warrant description in the footnote.
How many Tranche 1 Warrants did the insider donate and how many remain?
Todd M. Duchene made a charitable donation of 95,000 Tranche 1 Warrants on September 9, 2026. After this donation, he held 422,133 Tranche 1 Warrants directly, as shown in the post-transaction warrant holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
