[Form 4] Xerox Holdings Corporation Insider Trading Activity

Rhea-AI Filing Summary

ChampionsGate Acquisition Corporation (Nasdaq: CHPGU) filed an 8-K to report a change in its independent auditor. On 31 Jul 2025 the audit committee dismissed UHY LLP, which had audited the SPAC’s financials for the period 27 Mar 2024 (inception)-31 Dec 2024. UHY’s opinion was unqualified but included an explanatory paragraph citing substantial doubt about the Company’s ability to continue as a going concern. The Company states there were no disagreements with UHY on accounting principles, disclosures, or audit scope through 5 Aug 2025. UHY will furnish a confirming letter (Exhibit 16.1).

The committee simultaneously engaged TAAD, LLP as the new independent registered public accounting firm for the fiscal year ending 31 Dec 2025. ChampionsGate confirms it had no prior consultations with TAAD on accounting matters or the type of audit opinion to be rendered. No other financial information or guidance was provided.

Positive

• No disagreements reported with outgoing auditor UHY on accounting or audit scope.
• Immediate appointment of TAAD, LLP avoids audit coverage lapse.

Negative

• UHY’s prior report included a going-concern explanatory paragraph, highlighting ongoing liquidity risk.
• Auditor turnover can raise governance and control questions until TAAD issues its first opinion.

Insights

Financial Reporting Analyst

TL;DR – Auditor switch disclosed; no conflicts; going-concern language persists; neutral short-term impact.

The dismissal of UHY and immediate hiring of TAAD appears procedural. Management affirms there were no disagreements or reportable events, reducing restatement risk. Retention of going-concern language underscores liquidity issues typical for pre-deal SPACs but is not new information. Because the change occurs early in the Company’s lifecycle and UHY’s opinion was clean, I view the filing as disclosure-driven with limited immediate valuation impact.

Corporate Governance Specialist

TL;DR – Clean transition, but investors should track future audit opinions for any escalated concerns.

Auditor turnover can flag governance issues, yet the Company documents a smooth hand-off and absence of disputes, mitigating red flags. Prompt engagement of TAAD limits reporting gaps ahead of the 2025 audit cycle. Key watch-item remains the existing going-concern uncertainty; any deterioration in cash-burn or deal timeline could heighten risk. Overall, the event is not materially adverse today but merits monitoring.

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^*

BANDROWCZAK STEVEN JOHN

(Last) (First) (Middle)

XEROX HOLDINGS CORPORATION

P.O. BOX 4505 401 MERRITT 7

(Street)

NORWALK CT 06851-1056

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Xerox Holdings Corp [ XRX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/02/2025

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
Restricted Stock Unit	08/02/2025		M		60,071(1)	D	$0	1,113,300	D
Common Stock	08/02/2025		M		60,071(1)	A	(2)	442,513	D
Common Stock	08/02/2025		F		27,837	D	$3.94	414,676(3)	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. On August 2, 2022, the reporting person was granted an award of 176,679 Restricted Stock Units, which vests in three installments of 33%, 33% and 34% on the first, second and third anniversaries of the grant date.

2. Restricted Stock Units convert into common stock on a one-for-one basis.

3. Of the 60,071 Restricted Stock Units that vested, 27,837 were withheld and disposed of for taxes.

	/s/ Eric Risi, as attorney-in-fact	08/05/2025
	** 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).
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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

Why did ChampionsGate Acquisition Corporation (CHPGU) change its auditor?

The audit committee dismissed UHY LLP on 31 Jul 2025 and hired TAAD LLP for the 2025 fiscal year; no disagreements were cited.

Did UHY LLP issue a qualified opinion on CHPGU's 2024 financials?

No. UHY’s opinion was unqualified but included an explanatory paragraph expressing doubt about the Company’s ability to continue as a going concern.

Were there any disagreements between CHPGU and UHY LLP?

The 8-K states there were no disagreements on accounting principles, financial disclosures, or audit procedures.

Who is the new auditor for ChampionsGate Acquisition Corporation?

Effective 31 Jul 2025, the Company engaged TAAD, LLP as its independent registered public accounting firm for the year ending 31 Dec 2025.

Does the filing provide new financial results or guidance?

No financial results, earnings data, or forward guidance were included; the filing solely addresses the auditor change.