BOXABL CFO discloses RSU-based equity stake
BOXABL Inc.’s Chief Financial Officer, Costas Martin Noe, reports equity interests entirely through Restricted Stock Units, with no direct holdings of Class A common stock.
Rhea-AI Filing Summary
BOXABL Inc.’s Chief Financial Officer, Costas Martin Noe, reports equity interests entirely through Restricted Stock Units, with no direct holdings of Class A common stock. The RSUs correspond to 556,613 and 974,073 underlying Class A shares and become monetizable only once fully vested and after a defined Qualifying Transaction. Each RSU delivers about 0.078 share, settled in stock within fifteen business days following a Qualifying Transaction. All RSUs are canceled if his employment ends before such a transaction, and no payment is made if he is terminated for cause after a Qualifying Transaction but before settlement.
Positive
- None.
Negative
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Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Costas Martin Noe
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units F3, F1, F2 | -- | -- | -- |
| holding | Restricted Stock Units F5, F4, F2 | -- | -- | -- |
| holding | Class A Common Stock, par value $0.0001 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,530,686 contracts (Direct);
Class A Common Stock, par value $0.0001 — 0 shares (Direct)
Footnotes (5)
- F1. The Restricted Stock Units ("RSUs) were granted October 2, 2023, and become subject to monetization once fully vested and upon the occurrence of a "Qualifying Transaction," defined as the first to occur of (i) a time at which the Company tenders for and successfully acquires the RSUs, (ii) the date of the closing of a transaction (or series of transactions) that results in a "change of control" of the Company; or (iii) the first trading day that is on or after the expiration of the "lock up" period after the effective date of the initial underwritten sale of the Company's equity securities to the public on an established securities market.
- F2. If Mr. Costas' employment terminates for any reason prior to a Qualifying Transaction, such termination will result in the immediate cancellation and lapse of the RSUs. In the event of termination for cause after a Qualifying Transaction but prior to payment, he will not be entitled to payment.
- F3. Each RSU represents the right to receive, upon vesting, approximately 0.078 of a share of Class A Common Stock of BOXABL Inc. The RSUs will be settled in shares of the Company's Class A Common Stock within fifteen business days after the closing of a Qualifying Transaction.
- F4. The Restricted Stock Units ("RSUs) were granted on December 24, 2024, and become subject to monetization once fully vested and upon the occurrence of a Qualifying Transaction.
- F5. Each RSU represents the right to receive, upon vesting, approximately 0.078 of a share of Class A Common Stock of BOXABL Inc. The RSUs will be settled in shares of the Company's Class A Common Stock within fifteen business days after the closing of a Qualifying Transaction.
Key Figures
Underlying Class A shares from October 2, 2023 RSU grant: 556,613 shares
Underlying Class A shares from December 24, 2024 RSU grant: 974,073 shares
Direct Class A common stock holdings: 0 shares
+2 more
5 metrics
Underlying Class A shares from October 2, 2023 RSU grant
556,613 shares
Underlying security shares linked to RSUs granted October 2, 2023
Underlying Class A shares from December 24, 2024 RSU grant
974,073 shares
Underlying security shares linked to RSUs granted December 24, 2024
Direct Class A common stock holdings
0 shares
Direct BOXABL Inc. Class A Common Stock reported as of July 17, 2026
Share per RSU
0.078 share per RSU
Each RSU represents the right to receive approximately 0.078 share upon vesting
Settlement period after Qualifying Transaction
15 business days
RSUs settled in Class A common stock within fifteen business days after a Qualifying Transaction
Key Terms
Restricted Stock Units, Qualifying Transaction, change of control, lock up
4 terms
Restricted Stock Units financial
"The Restricted Stock Units (RSUs) were granted October 2, 2023"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Qualifying Transaction financial
"become subject to monetization once fully vested and upon the occurrence of a Qualifying Transaction"
A qualifying transaction is a deal that turns a non-operating or shell public company into a fully operating, exchange-approved business by meeting the stock exchange’s rules for operations, assets and management. It matters to investors because it marks a major change in what the company does and its risks—like converting an empty storefront into a functioning shop that must meet health and safety codes—and often brings new assets, share dilution and fresh disclosure obligations.
change of control financial
"the closing of a transaction (or series of transactions) that results in a change of control of the Company"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
lock up financial
"the first trading day that is on or after the expiration of the lock up period"
A lock up is a contractual restriction that prevents certain shareholders from selling their stock for a set period after an offering or corporate transaction. It matters to investors because it temporarily limits the number of shares that can flood the market—like a temporary freeze on a group of tickets—so when the lock up ends, increased selling can put downward pressure on the stock price or reveal insider confidence when shares are held.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is a Qualifying Transaction in BOXABL Inc.’s Form 3 for symbol FGMC?
A Qualifying Transaction is defined as a successful tender for the RSUs, a transaction causing a change of control, or the first trading day after the IPO lock-up period expires for BOXABL Inc.’s equity.
When do the CFO’s RSUs at BOXABL Inc. become payable to him?
Each RSU delivers approximately 0.078 share of Class A common stock and is settled in shares within fifteen business days after a Qualifying Transaction occurs, subject to vesting and employment conditions.
What happens to the BOXABL Inc. RSUs if the CFO leaves before a Qualifying Transaction?
If his employment terminates for any reason before a Qualifying Transaction, all RSUs are immediately canceled and lapse. If terminated for cause after such a transaction but before payment, he is not entitled to any payment.
AI-generated analysis. How Rhea-AI works. Not financial advice.
