[Form 3] X-Energy, Inc. Initial Statement of Beneficial Ownership

X-Energy, Inc. director Kathleen W. Hyle reported her initial ownership of company securities.

Rhea-AI Filing Summary

X-Energy, Inc. director Kathleen W. Hyle reported her initial ownership of company securities. She directly holds 117,640 shares of Class A Common Stock, including 29,410 shares of restricted stock. She also holds a stock option on 33,355 shares of Class A Common Stock at an exercise price of $23.00 per share, expiring on April 24, 2036. The option is vested for 25,017 underlying shares, with an additional 3,589 shares vesting on January 1, 2027 and 4,749 shares vesting in two substantially equal annual installments beginning on January 1, 2027. This filing lists holdings and vesting terms rather than any new purchase or sale.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider HYLE KATHLEEN W

Role Director

Type	Security	Shares	Price	Value
holding	Stock Option	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Stock Option — 33,355 contracts (Direct); Class A Common Stock — 117,640 shares (Direct)

Footnotes (2)

1. F1. Includes 29,410 shares of restricted stock.
2. F2. The stock option is vested as to 25,017 of the underlying shares. The stock option vests as to 3,589 of the underlying shares on January 1, 2027, and as to 4,749 of the underlying shares in two substantially equal annual installments beginning on January 1, 2027.

Key Figures

Common shares held: 117,640 shares Restricted stock included: 29,410 shares Stock option underlying shares: 33,355 shares +5 more

8 metrics

Common shares held 117,640 shares Class A Common Stock directly owned by Kathleen W. Hyle

Restricted stock included 29,410 shares Portion of common stock reported as restricted

Stock option underlying shares 33,355 shares Underlying Class A Common Stock for reported stock option

Option exercise price $23.00 per share Exercise price for the reported stock option

Currently vested option shares 25,017 shares Portion of option already vested

Additional vesting on Jan. 1, 2027 3,589 shares Single tranche vesting on January 1, 2027

Later annual vesting installments 4,749 shares Two substantially equal annual installments beginning January 1, 2027

Option expiration date April 24, 2036 Expiration of reported stock option

Key Terms

restricted stock, Stock Option, underlying shares, Class A Common Stock

4 terms

restricted stock financial

"Includes 29,410 shares of restricted stock."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Stock Option financial

"security_title": "Stock Option""

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

underlying shares financial

"vested as to 25,017 of the underlying shares."

Class A Common Stock financial

"security_title": "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/24/2026 - 05:12 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

HYLE KATHLEEN W

(Last) (First) (Middle)

C/O X-ENERGY, INC.

530 GAITHER ROAD, SUITE 700

(Street)

ROCKVILLE MARYLAND 20850

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/24/2026

3. Issuer Name and Ticker or Trading Symbol
X-Energy, Inc. [ XE ]

3a. Foreign Trading Symbol

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

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	117,640(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	(2)	04/24/2036	Class A Common Stock	33,355	$23	D

Explanation of Responses:

1. Includes 29,410 shares of restricted stock.

2. The stock option is vested as to 25,017 of the underlying shares. The stock option vests as to 3,589 of the underlying shares on January 1, 2027, and as to 4,749 of the underlying shares in two substantially equal annual installments beginning on January 1, 2027.

Remarks:

Exhibit 24 - Power of Attorney.

	/s/ Elizabeth Petrone, Attorney-in-Fact	04/24/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)