4/A: Core Scientific CFO Amends Stock Withholding Disclosure

Core Scientific's CFO, James P Nygaard Jr., filed an amended Form 4 to correct the number of shares withheld for tax obligations related to restricted stock unit vesting.

Summary

• James P Nygaard Jr., EVP, Chief Financial Officer of Core Scientific, Inc. (CORZ), filed an amended Form 4 (Form 4/A).
• The amendment corrects an inadvertent error in the original Form 4 filed on March 19, 2026.
• The original filing incorrectly reported 92,725 shares were withheld on March 17, 2026, to satisfy withholding tax obligations upon the vesting of restricted stock units.
• The corrected filing now reports that 98,671 shares were withheld on March 26, 2026, for the same purpose, at a price of $16.42 per share.
• Following this corrected transaction, Nygaard beneficially owns 922,982 shares of Common Stock.
• The reported beneficial ownership also includes the acquisition of 3,555 shares on July 17, 2025, and 336 shares on December 24, 2025, received for no consideration in connection with in-kind distributions by XMS XPDI Sponsor Holdings LLC, which were exempt from Section 16.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it is an administrative correction to ensure accurate regulatory disclosure rather than an indicator of operational performance or strategic change.

Positives

• Ensures accurate public disclosure of executive stock transactions, enhancing transparency.

Negatives

• An initial error in reporting required an amendment, indicating a minor administrative oversight in the original filing process.

Future Outlook

NA

Management Comments

• The amendment is filed to amend and restate in its entirety the original Form 4, which inadvertently reported an incorrect number of shares withheld on an incorrect date.

Industry Context

StockSavvy.ai notes that Form 4/A filings are routine for public companies to ensure accurate disclosure of insider transactions, particularly when initial filings contain minor administrative errors. This specific amendment does not reflect on broader industry trends but rather on internal reporting accuracy for Core Scientific.

Related Party Transactions

• Acquisition of 3,555 shares and 336 shares of Common Stock from XMS XPDI Sponsor Holdings LLC for no consideration, which were exempt from Section 16.

Stakeholder Impact

• Shareholders benefit from increased transparency and accuracy in executive compensation and ownership disclosures.

Key Dates

Recommendation

This filing is an administrative correction of an insider transaction and does not provide new information regarding the company's operational performance, financial health, or strategic direction. Therefore, it does not warrant a change in investment recommendation based solely on this amendment.

Keywords

Core Scientific, CORZ, Form 4/A, SEC filing, insider transaction, stock withholding, restricted stock units, CFO, beneficial ownership, James P Nygaard Jr