[Form 4] Expion360 Inc. Insider Trading Activity

Rhea-AI Filing Summary

Expion360 (XPON) – Form 4 insider report

• Director George Lefevre reported two equity-based compensation grants dated 31 Jul 2025.
• 5,000 Restricted Stock Units (RSUs) were awarded under the 2021 Incentive Award Plan. The RSUs vested immediately on the grant date and carry a 1-for-1 right to common shares.
• 5,000 stock options were simultaneously granted at an exercise price of $0.9329; they vested in full on 31 Jul 2025 and expire 31 Jul 2035. The exercise price equals the closing price on the board-approval date.
• After these grants, Lefevre’s stated beneficial ownership is 10,422 common shares (122 common, 5,000 RSUs, 5,300 options exercisable within 60 days) held directly.

All transactions are coded “A” (acquisition) and show a $0 cost, indicating compensation awards rather than open-market purchases. No shares were sold, and no other classes of securities were involved.

Positive

• Director ownership increases by 5,000 shares and 5,000 options, modestly aligning insider incentives with shareholder interests.

Negative

• Equity grants add minor dilution; awards are compensation-based, not open-market purchases, limiting their bullish signalling value.

Insights

Financial Analyst

TL;DR: Routine director equity grant; aligns incentives, immaterial to valuation or float.

The filing records standard board compensation—5,000 RSUs and 5,000 at-the-money options. With XPON trading near the stated $0.93 exercise price, upside depends on share appreciation. Post-grant ownership of 10,422 shares is small relative to outstanding share count (not disclosed here), so dilution and signalling effects are minimal. No purchase with personal cash, hence limited incremental bullish signal. Overall market impact is neutral.

Corporate Governance Expert

TL;DR: Grants comply with 2021 Plan; accelerated vesting but shareholder-approved—no red flags.

The options were contingent on shareholder approval of a plan amendment, which occurred on 31 Jul 2025, demonstrating procedural compliance. Immediate vesting concentrates reward but is typical for small-cap board compensation packages. From a governance standpoint, disclosure is clear and signatures proper; therefore, no concern regarding insider abuse.

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).

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^*

Lefevre George

(Last) (First) (Middle)

18101 VON KARMAN AVENUE

(Street)

IRVINE CA 96212

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Expion360 Inc. [ XPON ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

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
Common Stock	07/31/2025		A		5,000(1)	A	$0	10,422(2)	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
Stock Option (Right to Buy)	$0.9329(3)	07/31/2025		A		5,000(4)		07/31/2025	07/31/2035	Common Stock	5,000	$0	5,000	D

Explanation of Responses:

1. Reflects a grant of restricted stock units ("RSUs") made to the Reporting Person under the Issuer's 2021 Incentive Award Plan (the "Plan"). Each RSU represents a contingent right to receive one share of the Issuer's common stock, par value $0.001 per share ("Common Stock"). The RSUs vested in full on July 31, 2025.

2. Includes (i) 122 shares of Common Stock, (ii) 5,000 RSUs, which were granted to the Reporting Person on July 31, 2025 as reported herein, and (iii) 5,300 shares of Common Stock, which the Reporting Person has the right to acquire upon the exercise of stock options exercisable within 60 days of July 31, 2025.

3. The exercise price of the Options (as defined below) was determined based on the closing price of the Common Stock on the date the Options were conditionally approved by the board of directors.

4. Reflects a grant of stock options (the "Options") made to the Reporting Person under the Plan. The Options were approved by the board of directors on April 28, 2025, subject to stockholder approval of an increase in the number of shares available for issuance under the Plan under which the Options were granted (the "Plan Amendment"). The Plan Amendment was approved by stockholders on July 31, 2025. The Options vested in full and became immediately exercisable on July 31, 2025.

	/s/ Brian Schaffner, Attorney-in-Fact for George Lefevre	08/01/2025
	** 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

How many Expion360 (XPON) shares did Director George Lefevre acquire?

He received 5,000 RSUs, each convertible into one common share, and 5,000 stock options exercisable for additional shares.

What is the exercise price and term of the new XPON stock options?

The options carry a $0.9329 exercise price and expire on 31 Jul 2035.

Did the RSUs and options vest immediately?

Yes. Both the 5,000 RSUs and 5,000 options vested in full on 31 Jul 2025.

What is George Lefevre’s total direct ownership after the transactions?

The filing lists 10,422 XPON common shares held directly, inclusive of exercisable options and newly granted RSUs.

Was shareholder approval required for the option grant?

Yes. Options were contingent on a plan amendment, which shareholders approved on 31 Jul 2025.