STOCK TITAN

X-Energy, Inc. (XE) director granted 6,522 RSUs and holds over 6M shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Ghaffarian Kamal Seyed reported acquisition or exercise transactions in this Form 4 filing.

X-Energy, Inc. director and 10% owner Dr. Kamal Seyed Ghaffarian received an award of 6,522 restricted stock units (RSUs), each representing one share of Class A Common Stock at a price of $0.0000 per share. The RSUs vest on the earlier of April 27, 2027 or the 2027 annual meeting, subject to continued service. Following this grant, he directly holds 1,240,543 shares of Class A Common Stock. The filing also reports 5,029,077 shares of Class A Common Stock held indirectly through several entities for which he has sole voting and dispositive power, while disclaiming beneficial ownership except to the extent of his pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider Ghaffarian Kamal Seyed, X-Energy Holdings, LLC
Role null | null
Type Security Shares Price Value
Grant/Award Class A Common Stock 6,522 $0.00 --
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 1,240,543 shares (Direct, null); Class A Common Stock — 5,029,077 shares (Indirect, See footnote)
Footnotes (1)
  1. Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. Consists of (i) 471,774 shares of Class A Common Stock and 8,963,719 Common Units and a corresponding number of shares of Class B Common Stock held by GM Enterprises, LLC, (ii) 3,951,679 shares of Class A Common Stock and 75,081,916 Common Units and a corresponding number of shares of Class B Common Stock held by X-Energy Holdings, LLC, (iii) 12,973 shares of Class A Common Stock and 246,498 Common Units and a corresponding number of shares of Class B Common Stock held by IBX Opportunity GP, Inc. and (iv) 592,651 shares of Class A Common Stock held by X-energy KG Parent, LLC. Dr. Kamal Ghaffarian has sole voting and dispositive power with respect to securities held by each of the foregoing entities. Dr. Kamal Ghaffarian disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
RSU grant size 6,522 RSUs Award of restricted stock units to director on April 28, 2026
Grant price $0.0000 per share Price per share for RSU award
Direct holdings after grant 1,240,543 shares Class A Common Stock directly held following RSU grant
Indirect Class A holdings 5,029,077 shares Class A Common Stock held through affiliated entities
GM Enterprises Class A 471,774 shares Class A Common Stock held by GM Enterprises, LLC
X-Energy Holdings Class A 3,951,679 shares Class A Common Stock held by X-Energy Holdings, LLC
Vesting date April 27, 2027 Latest vesting date for the 6,522 RSUs, or earlier 2027 meeting
restricted stock unit ("RSU") financial
"Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock."
Class A Common Stock financial
"Each restricted stock unit ("RSU") represents the right to receive one share of 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.
Common Units financial
"471,774 shares of Class A Common Stock and 8,963,719 Common Units and a corresponding number of shares of Class B Common Stock"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Class B Common Stock financial
"and a corresponding number of shares of Class B Common Stock held by GM Enterprises, LLC"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
pecuniary interest financial
"disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein."
SEC Form 4
FORM 4UNITED 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).
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*
Ghaffarian Kamal Seyed

(Last)(First)(Middle)
C/O X-ENERGY, INC.
530 GAITHER ROAD, SUITE 700

(Street)
ROCKVILLE MARYLAND 20850

(City)(State)(Zip)

UNITED STATES

(Country)
2. Issuer Name and Ticker or Trading Symbol
X-Energy, Inc. [ XE ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock04/28/2026A6,522A$0(1)1,240,543D
Class A Common Stock5,029,077ISee footnote(2)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
1. Name and Address of Reporting Person*
Ghaffarian Kamal Seyed

(Last)(First)(Middle)
C/O X-ENERGY, INC.
530 GAITHER ROAD, SUITE 700

(Street)
ROCKVILLE MARYLAND 20850

(City)(State)(Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
X-Energy Holdings, LLC

(Last)(First)(Middle)
C/O X-ENERGY, INC.
530 GAITHER ROAD, SUITE 700

(Street)
ROCKVILLE MARYLAND 20850

(City)(State)(Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service.
2. Consists of (i) 471,774 shares of Class A Common Stock and 8,963,719 Common Units and a corresponding number of shares of Class B Common Stock held by GM Enterprises, LLC, (ii) 3,951,679 shares of Class A Common Stock and 75,081,916 Common Units and a corresponding number of shares of Class B Common Stock held by X-Energy Holdings, LLC, (iii) 12,973 shares of Class A Common Stock and 246,498 Common Units and a corresponding number of shares of Class B Common Stock held by IBX Opportunity GP, Inc. and (iv) 592,651 shares of Class A Common Stock held by X-energy KG Parent, LLC. Dr. Kamal Ghaffarian has sole voting and dispositive power with respect to securities held by each of the foregoing entities. Dr. Kamal Ghaffarian disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
/s/ Elizabeth Petrone, Attorney-in-Fact04/29/2026
By: Kamal Ghaffarian, Executive Chairman, By: /s/ Elizabeth Petrone, Attorney-in-Fact04/29/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)