[Form 4] Expion360 Inc. Insider Trading Activity

Rhea-AI Filing Summary

Expion360 Inc. (XPON) insider compensation update: Chief Operating Officer Carson E. Heagen reported receiving 100,000 restricted stock units (RSUs) of Expion360 common stock on October 16, 2025. The RSUs were granted under the company’s 2021 Incentive Award Plan at a price of $0.00 per unit and vested in full on the grant date, meaning they converted into an equivalent number of common shares.

After this equity grant, Heagen beneficially owns 148,925 shares of Expion360 common stock. This total includes 115,000 shares of common stock and 33,925 shares that may be acquired upon exercise of stock options that are exercisable within 60 days of November 20, 2025. The filing reflects a routine Form 4 report by a single officer-level insider.

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
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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^*

Heagen Carson E.

(Last) (First) (Middle)

2025 SW DEERHOUND AVE

(Street)

REDMOND OR 97756

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2025

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	10/16/2025		A		100,000(1)	A	$0.00	148,925(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

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. 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 October 16, 2025.

2. Includes (i) 115,000 shares of Common Stock, and (ii) 33,925 shares of Common Stock, which the Reporting Person has the right to acquire upon the exercise of stock options exercisable within 60 days of November 20, 2025.

Remarks:

Exhibit 24.1 - Power of Attorney

	/s/ Shawna Bowin, Attorney-in-Fact for Carson E. Heagen	11/20/2025
	** 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

What insider transaction did Expion360 (XPON) report for Carson E. Heagen?

Expion360 reported that Chief Operating Officer Carson E. Heagen received a grant of 100,000 restricted stock units (RSUs) of Expion360 common stock on October 16, 2025. These RSUs vested in full on the same date.

How many Expion360 (XPON) shares does Carson E. Heagen beneficially own after this transaction?

Following the reported transaction, Carson E. Heagen beneficially owns 148,925 shares of Expion360 common stock. This consists of 115,000 shares of common stock and 33,925 shares that can be acquired upon exercising stock options exercisable within 60 days of November 20, 2025.

What is the nature of the 100,000 RSUs granted to the Expion360 (XPON) COO?

The 100,000 RSUs granted to the COO were issued under Expion360’s 2021 Incentive Award Plan. Each RSU represents a contingent right to receive one share of Expion360 common stock with a par value of $0.001 per share, and these RSUs vested in full on October 16, 2025.

At what price were the Expion360 (XPON) RSUs granted to the COO?

The 100,000 restricted stock units reported for Carson E. Heagen were granted at a stated price of $0.00 per unit, which is typical for RSUs where value is realized through future share delivery rather than an exercise payment.

What role does Carson E. Heagen hold at Expion360 (XPON)?

Carson E. Heagen is identified in the filing as an officer of Expion360 Inc., serving in the position of Chief Operating Officer.

Is the Expion360 (XPON) Form 4 filing for a single reporting person or a group?

The Form 4 is indicated as being filed by one reporting person, specifically Chief Operating Officer Carson E. Heagen, rather than by a joint or group filer.