Exodus Movement CFO’s Form 4 Shows Tax-Related Share Withholding

Rhea-AI Filing Summary

On 08/01/2025 Exodus Movement, Inc. (EXOD) Chief Financial Officer James Gernetzke filed a Form 4 reflecting an “F” transaction code, meaning the company withheld shares to satisfy tax on vested Restricted Stock Units (RSUs). Exactly 5,221 Class A shares were withheld at $30.84, a non-discretionary disposition that generated no cash for the insider. After the event, Gernetzke still beneficially owns 449,838 Class A shares, including four RSU awards that continue vesting monthly through 2029 (260,689 RSUs in aggregate). Because no open-market sale or purchase occurred, the filing is primarily administrative and leaves the CFO’s economic exposure to EXOD largely unchanged.

Positive

• Large residual holding: CFO still controls 449,838 shares, maintaining strong alignment with shareholder interests.
• Long-term vesting schedule through 2029 suggests executive retention and ongoing commitment.

Negative

• Slight dilution: 5,221 shares were added to the company’s treasury, marginally increasing the share count (immaterial).

Insights

Financial Analyst

TL;DR: Tax-withholding, not true sale; negligible market impact.

The “F” code indicates shares were surrendered to cover payroll taxes on RSU vesting, a routine event. Only ~1.2% of the executive’s post-transaction holdings were involved, and no price-setting trade occurred. The CFO’s remaining 449.8k shares—plus a multi-year vesting schedule—signal continued alignment with shareholders. I view the disclosure as neutral for valuation or sentiment.

Corporate Governance Expert

TL;DR: Routine equity administration; governance posture unchanged.

The report shows proper Section 16 compliance and transparent disclosure of RSU tax withholding. Continued large ownership stake reduces agency risk. No red flags on timing or volume, supporting best-practice governance. Impact on investors is minimal.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gernetzke James

(Last) (First) (Middle)

15418 WEIR ST., #333

(Street)

OMAHA NE 68137

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Exodus Movement, Inc. [ EXOD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/01/2025		F		5,221(1)	D	$30.84(2)	449,838(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. In connection with the vesting and settlement of Restricted Stock Units ("RSUs") previously granted under the Issuer's equity incentive plans, the Issuer withheld shares of Company's Class A common stock, par value $0.000001 per share ("Class A Common Stock"), to satisfy its tax withholding obligations.

2. Represents the price of the Company's Class A common stock on the vesting date.

3. Includes (i) 3,812 RSUs originally granted on January 5, 2022 that vest in equal monthly installments through January 1, 2026, (ii) 110,678 RSUs originally granted on January 1, 2023 that vest in equal monthly installments through January 1, 2027, (iii) 92,665 RSUs originally granted on March 13, 2024 that vest in equal monthly installments through January 1, 2028 and (iv) 53,534 RSUs originally granted on May 21, 2025 that vest in equal monthly installments through January 1, 2029. Each RSU represents the right to receive one share of Class A Common Stock upon settlement.

	/s/ James Gernetzke	08/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did EXOD's CFO report in the August 2025 Form 4?

He reported the withholding of 5,221 Class A shares to pay taxes on vested RSUs.

Was there an open-market sale of EXOD stock?

No. The “F” code denotes shares withheld for taxes, not a discretionary sale or purchase.

How many EXOD shares does the CFO now own?

After the transaction, he beneficially owns 449,838 Class A shares.

What was the share price used for withholding?

The company valued the shares at $30.84, the closing price on the vesting date.

Do the CFO’s RSUs continue to vest?

Yes. Four RSU grants totaling 260,689 units vest monthly through January 1, 2029.