Xos (XOS) COO covers RSU tax with 9,636-share withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Xos, Inc. director and Chief Operating Officer Giordano Sordoni reported a tax-related share disposition tied to vested equity awards. The company withheld 9,636 shares of common stock at $3.66 per share to cover tax obligations from vesting Restricted Stock Unit (RSU) awards, rather than an open-market sale. After this withholding, Sordoni directly owns 1,626,407 shares of Xos common stock, which includes 465,944 unvested RSUs that may convert into additional shares as they vest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Sordoni Giordano
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 9,636 | $3.66 | $35K |
Holdings After Transaction:
Common Stock — 1,626,407 shares (Direct, null)
Footnotes (1)
- Represents the number of shares withheld by the Issuer to satisfy the tax withholding obligations in connection with the vesting of the Reporting Person's previously reported Restricted Stock Unit ("RSU") Awards. Each RSU represents a contingent right to receive one share of common stock upon settlement. Includes 465,944 unvested RSUs.
Key Figures
Shares withheld for taxes: 9,636 shares
Withholding price per share: $3.66 per share
Shares held after transaction: 1,626,407 shares
+1 more
4 metrics
Shares withheld for taxes
9,636 shares
Common stock withheld to satisfy RSU tax obligations
Withholding price per share
$3.66 per share
Value used for tax-withholding share disposition
Shares held after transaction
1,626,407 shares
Direct Xos common stock ownership following withholding
Unvested RSUs
465,944 RSUs
Unvested Restricted Stock Units held by Sordoni
Key Terms
Restricted Stock Unit ("RSU") Awards, tax withholding obligations, unvested RSUs, contingent right
4 terms
Restricted Stock Unit ("RSU") Awards financial
"the vesting of the Reporting Person's previously reported Restricted Stock Unit ("RSU") Awards"
tax withholding obligations financial
"shares withheld by the Issuer to satisfy the tax withholding obligations in connection with the vesting"
unvested RSUs financial
"Includes 465,944 unvested RSUs."
contingent right financial
"Each RSU represents a contingent right to receive one share of common stock upon settlement."
FAQ
What insider transaction did Xos (XOS) report for Giordano Sordoni?
Xos reported that COO and director Giordano Sordoni had 9,636 common shares withheld to cover tax obligations from vesting RSU awards. This was a tax-withholding disposition, not an open-market purchase or sale, and relates to his existing equity compensation.
What are the RSUs mentioned in the Xos (XOS) Form 4 for Giordano Sordoni?
The Form 4 notes Sordoni’s previously reported Restricted Stock Unit (RSU) awards, where each RSU converts into one Xos common share upon settlement. It also specifies that his holdings include 465,944 unvested RSUs, which remain subject to future vesting requirements.
Was the Xos (XOS) insider transaction an open-market sale by the COO?
No, the transaction was not an open-market sale. The 9,636 Xos shares were withheld by the issuer to satisfy Sordoni’s tax withholding obligations tied to vesting RSU awards, making it a compensation-related adjustment rather than a discretionary trade in the public market.