Form 4: Core Scientific Director Weiss Receives Stock Grants

Director Eric Stanton Weiss acquired 175,239 shares of Core Scientific, Inc. through restricted stock unit (RSU) grants.

Summary

• Eric Stanton Weiss, a director of Core Scientific, Inc., acquired 127,446 shares of common stock on May 27, 2024, through a restricted stock unit (RSU) grant.
• These RSUs will vest on January 23, 2027, contingent upon Weiss's continued service as a non-employee director.
• Additionally, Weiss acquired 47,793 shares of common stock through another RSU grant on the same date.
• These RSUs will vest on January 23, 2025, also contingent upon Weiss's continued service as a non-employee director.
• Following these transactions, Weiss beneficially owns a total of 190,239 shares of Core Scientific, Inc.

Sentiment

Score: 6

Explanation: The document itself is neutral, simply reporting a transaction. The sentiment is slightly positive as it indicates continued investment in the company by a director.

Positives

• The RSU grants to a director may align his interests with the long-term success of the company.
• The vesting schedules encourage continued service and commitment from the director.

Risks

• The value of the RSUs is dependent on the future stock price of Core Scientific, Inc., which is subject to market risks.
• If Weiss ceases to be a non-employee director before the vesting dates, the RSUs will be forfeited.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

This filing is a routine disclosure of stock grants to a company director, which is a common practice in publicly traded companies to incentivize and retain key personnel.

Comparison to Industry Standards

• Stock grants to directors are a standard practice across various industries, including technology and cryptocurrency-related companies like Core Scientific.
• The vesting schedules, typically ranging from one to three years, are also consistent with industry norms.
• Companies like Marathon Digital Holdings and Riot Platforms also utilize stock options and RSUs as part of their compensation packages for directors and executives.

Stakeholder Impact

• The stock grants could potentially increase shareholder value if the director's performance aligns with the company's success.
• The grants incentivize the director to act in the best interests of the company and its stakeholders.

Key Dates