Form 4: Core Scientific CEO Reports Share Transaction Related to RSU Vesting and Prior Distribution

Core Scientific CEO Adam Taylor Sullivan reported the disposition of 23,508 shares of common stock to cover tax obligations from restricted stock unit vesting, alongside a previously acquired 4,912 shares from an in-kind distribution.

Summary

• Adam Taylor Sullivan, Chief Executive Officer and Director of Core Scientific, Inc. (CORZ), reported a transaction on July 1, 2025.
• 23,508 shares of Common Stock were disposed of at a price of $17.07 per share.
• This disposition represents shares withheld by the issuer to satisfy withholding tax obligations upon the vesting of restricted stock units.
• Following this transaction, Adam Taylor Sullivan beneficially owns 4,383,553 shares of Common Stock directly.
• The reported amount also reflects the acquisition of 4,912 shares of Common Stock on September 19, 2024, received for no consideration in connection with an in-kind distribution by XMS Core Convert Holdings LLC, which was exempt from Section 16 pursuant to Rule 16a-9.

Sentiment

Score: 6

Explanation: The filing is a routine insider transaction report. The disposition of shares is for tax purposes related to RSU vesting, which is a neutral event. The prior acquisition of shares adds to beneficial ownership. Overall, it's a standard compliance filing with no overtly positive or negative implications for the company's operations or financial health.

Positives

• The transaction indicates the vesting of restricted stock units, which often signifies the achievement of performance milestones or continued employment, aligning executive incentives with shareholder interests.
• The acquisition of 4,912 shares on September 19, 2024, through an in-kind distribution, increased the CEO's overall beneficial ownership prior to the tax-related disposition.

Negatives

• The disposition of 23,508 shares, while for tax purposes, reduces the direct beneficial ownership of the CEO.

Future Outlook

This Form 4 filing is a historical report of insider transactions and does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a routine insider transaction report for a publicly traded company in the cryptocurrency mining or data center industry. Such transactions, particularly those related to RSU vesting and tax withholding, are common and generally do not indicate a shift in broader industry trends or competitive landscape. The specific price of $17.07 for the disposed shares provides a snapshot of the company's stock valuation at the time of the transaction.

Comparison to Industry Standards

• This Form 4 reports a standard insider transaction involving the vesting of restricted stock units and the subsequent withholding of shares for tax purposes, which is a common practice across all industries for executive compensation.
• The prior acquisition of shares via an in-kind distribution is also a specific event related to the CEO's holdings. There are no specific comparable companies, projects, or results mentioned in this filing to allow for a direct comparison to industry-specific financial or operational benchmarks.

Stakeholder Impact

• Shareholders: The transaction reflects a routine executive compensation event (RSU vesting) and a minor reduction in the CEO's direct shareholding due to tax withholding. The overall beneficial ownership remains substantial, which can be viewed positively as alignment with shareholder interests.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Next Steps

• This Form 4 filing reports a completed transaction and does not outline specific future actions, events, or milestones for the company or the reporting person beyond the reported transaction.

Key Dates

Keywords

Core Scientific, CORZ, SEC Form 4, Insider Transaction, Adam Taylor Sullivan, CEO, Director, Restricted Stock Units, RSU Vesting, Share Disposition, Beneficial Ownership, Tax Withholding