Form 4: Core Scientific CEO Plans Share Sale for Tax
Insider Transaction Report
Core Scientific CEO Adam Taylor Sullivan reported a planned disposition of 23,508 shares of common stock to cover tax obligations related to restricted stock unit vesting on September 30, 2025.
Summary
- Adam Taylor Sullivan, CEO and Director of Core Scientific, Inc. (CORZ), reported a planned transaction for September 30, 2025, under a Rule 10b5-1 plan.
- On this date, 23,508 shares of Common Stock are scheduled to be disposed of at a price of $17.94 per share.
- This disposition is intended to satisfy withholding tax obligations upon the vesting of restricted stock units.
- Following this planned disposition, Sullivan will beneficially own 4,363,600 shares of Common Stock directly.
- The reported amount also reflects an acquisition of 3,555 shares of Common Stock on July 17, 2025, received for no consideration from XMS XPDI Sponsor Holdings LLC, which was exempt from Section 16 reporting under Rule 16a-9.
Sentiment
Score: 6
Explanation: The filing reports a routine, pre-planned transaction related to executive compensation (RSU vesting and tax withholding under a Rule 10b5-1 plan), which is generally neutral. The acquisition of additional shares for no consideration is a positive for the executive.
Positives
- Vesting of restricted stock units indicates the executive met performance or tenure requirements.
- Acquisition of 3,555 shares for no consideration on July 17, 2025, from XMS XPDI Sponsor Holdings LLC.
Negatives
- Planned disposition of 23,508 shares, reducing direct ownership, albeit for tax purposes.
Future Outlook
N/A
Industry Context
N/A
Related Party Transactions
- Acquisition of 3,555 shares on July 17, 2025, for no consideration from XMS XPDI Sponsor Holdings LLC, which may be a related entity.
Stakeholder Impact
- Minimal impact on shareholders as this is a routine executive compensation-related transaction (tax withholding upon RSU vesting).
Key Dates
| Date | Description |
|---|---|
| 07/17/2025 | Acquisition of 3,555 shares from XMS XPDI Sponsor Holdings LLC. |
| 09/30/2025 | Planned transaction date for disposition of shares to cover tax obligations. |
| 10/02/2025 | Signature date of the reporting person's attorney-in-fact. |
Keywords
Core Scientific, CORZ, Adam Taylor Sullivan, Form 4, Insider Transaction, Restricted Stock Units, Tax Withholding, CEO, Director, 10b5-1 Plan
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