Exodus Movement CEO RSU Settlement Leaves 875,373 Shares

Rhea-AI Filing Summary

Jon Paul Richardson, identified as Director, 10% owner and Chief Executive Officer, reported a transaction for Exodus Movement, Inc. (EXOD) with an earliest transaction date of 10/01/2025. The filing shows 10,470 shares of Class A common stock were disposed of under code F as the company withheld shares to satisfy tax withholding obligations at a price of $27.78 per share, leaving the reporting person with 875,373 shares beneficially owned. The filing explains the settlement arose from vesting of previously granted restricted stock units (RSUs), and lists RSU grants and their remaining vesting schedules through 01/01/2029.

Positive

• Reporting person retains a substantial stake of 875,373 shares
• RSU grants align executive compensation with shareholder interests, with vesting schedules through 01/01/2029

Negative

• 10,470 shares were disposed (withheld) on 10/01/2025 to satisfy tax obligations
• Periodic vesting will continue to increase share count outstanding as RSUs settle through 2029

Insights

Corporate Governance Expert

Insider tax withholding, not an open-market sale; ownership remains substantial.

The Form 4 reports a 10,470-share disposition on 10/01/2025 recorded under code F, which the filer explains is share withholding to satisfy tax obligations from RSU settlement. Such withholdings are routine and do not necessarily indicate voluntary cashing out.

Despite the withholding, the reporting person retains 875,373 shares, maintaining a material ownership stake in EXOD.

Executive Compensation/Equity Expert

Multiple RSU grants are continuing to vest through 01/01/2029, driving the reported settlement.

The explanation details four RSU grants: 4,574 (granted 01/05/2022), 195,513 (01/01/2023), 172,547 (03/13/2024) and 104,159 (05/21/2025) that vest in monthly installments ending between 01/01/2026 and 01/01/2029. These schedules explain recurring vesting events and expected future share settlements.

This structure implies continued periodic share issuances to the executive as RSUs vest; the filing shows one such periodic settlement resulted in the withholding of 10,470 shares for taxes.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

1. Name and Address of Reporting Person^*

Richardson Jon Paul

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		F		10,470(1)	D	$27.78(2)	875,373(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) 4,574 RSUs originally granted on January 5, 2022 that vest in equal monthly installments through January 1, 2026, (ii) 195,513 RSUs originally granted on January 1, 2023 that vest in equal monthly installments through January 1, 2027, (iii) 172,547 RSUs originally granted on March 13, 2024 that vest in equal monthly installments through January 1, 2028 and (iv) 104,159 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, attorney-in-fact for Jon Paul Richardson	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Jon Paul Richardson report on Form 4 for EXOD?

The Form 4 reports a 10,470-share disposition (withholding) on 10/01/2025 related to RSU settlement, at a price of $27.78, leaving 875,373 shares beneficially owned.

Why were shares disposed of according to the Form 4?

The filing states shares were withheld by the company to satisfy tax withholding obligations arising from the vesting and settlement of RSUs.

How many RSUs and vesting schedules are disclosed in the filing?

The filing lists four RSU grants: 4,574 (01/05/2022, vest through 01/01/2026), 195,513 (01/01/2023, vest through 01/01/2027), 172,547 (03/13/2024, vest through 01/01/2028) and 104,159 (05/21/2025, vest through 01/01/2029).

What price was used for the withheld shares?

The price of the company's Class A common stock on the vesting date used for the transaction is reported as $27.78 per share.

Does this Form 4 indicate a change in control or a sale for cash?

No. The filing classifies the transaction under code F and explains the disposition was for tax withholding on RSU settlement, not an open-market sale.