Form 4: Core Scientific CEO Adam Sullivan Reports Stock Transaction
Statement of Changes in Beneficial Ownership
Core Scientific, Inc. CEO Adam Sullivan reported a transaction involving the withholding of shares to cover tax obligations upon the vesting of restricted stock units.
Summary
- Adam Sullivan, Chief Executive Officer of Core Scientific, Inc. (CORZ), reported a transaction on June 30, 2026.
- The transaction involved 18,023 shares of common stock, acquired at a price of $25.59 per share.
- These shares were withheld to satisfy tax obligations related to the vesting of restricted stock units.
- Following this transaction, Mr. Sullivan beneficially owns 4,452,010 shares of common stock directly.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard administrative transaction for executive compensation rather than a strategic financial event.
Positives
- The transaction reflects the settlement of tax obligations associated with executive compensation, a standard occurrence.
- Mr. Sullivan continues to hold a significant direct beneficial ownership of 4,452,010 shares, indicating continued commitment to the company.
Negatives
- The withholding of shares for tax purposes represents a reduction in the number of shares directly held by the executive, although it is a planned event.
Future Outlook
No specific forward-looking statements or guidance were provided in this Form 4 filing.
Industry Context
StockSavvy.ai notes that Form 4 filings are routine disclosures for corporate insiders and typically report routine transactions such as stock option exercises, sales, or, as in this case, share withholdings for tax purposes. The details of this transaction do not inherently signal a change in the company's operational or financial trajectory.
Stakeholder Impact
- Shareholders: The transaction is a standard tax-related event for an executive and is not expected to have a direct material impact on the company's share price or overall shareholder value.
Key Dates
| Date | Description |
|---|---|
| 06/30/2026 | Transaction Date for withholding of shares. |
| 07/01/2026 | Date of signature for the filing. |
Keywords
Form 4, SEC Filing, Core Scientific, CORZ, Adam Sullivan, CEO, Stock Transaction, Restricted Stock Units, Tax Withholding, Beneficial Ownership
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