Form 4: Core Scientific Executive Acquires and Disposes of Shares Following Vesting of Restricted Stock Units

Core Scientific's Chief Legal and Administrative Officer, Todd DuChene, acquired shares through vesting of restricted stock units and subsequently sold a portion to cover tax obligations.

Summary

• Todd DuChene, Chief Legal and Administrative Officer of Core Scientific, acquired 55,758 shares of common stock on December 31, 2024, as part of a performance-based restricted stock unit vesting.
• This vesting was triggered by the 300% vesting of the first installment of performance-based restricted stock units granted on July 19, 2024.
• On January 2, 2025, Mr. DuChene sold 129,861 shares at a price of $14.243 per share.
• A further 2,949 shares were sold on January 3, 2025, at a price of $14.5682 per share.
• These sales were made to satisfy tax obligations arising from the vesting of the restricted stock units.
• Following these transactions, Mr. DuChene beneficially owns 2,048,700 shares of Core Scientific common stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to executive compensation and stock ownership. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• The vesting and subsequent sale of shares by executives to cover tax obligations is a standard practice across publicly traded companies.
• Similar transactions are regularly reported by executives at companies like Marathon Digital Holdings (MARA) and Riot Platforms (RIOT), which are also involved in the cryptocurrency mining industry.
• These transactions are typically disclosed through SEC Form 4 filings, ensuring transparency and compliance with regulations.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they represent a small portion of the total outstanding shares.
• The sales by the executive are a normal part of compensation and do not indicate any change in the company's outlook.

Key Dates

Keywords

Core Scientific, stock, restricted stock units, insider trading, vesting, tax obligations, Todd DuChene, CORZ