Form 4: Core Scientific Executive Receives Stock Grant

Todd M. DuChene, Chief Legal and Administrative Officer of Core Scientific, Inc., received a grant of 194,600 shares of common stock on April 28, 2025.

Summary

• On April 28, 2025, Todd M. DuChene, Chief Legal and Administrative Officer of Core Scientific, Inc., was granted 194,600 shares of common stock.
• These shares are in the form of restricted stock units (RSUs).
• One-third of the RSUs will vest on April 15, 2026, with the remaining two-thirds vesting in eight substantially equal quarterly installments thereafter, contingent upon continued service to the Issuer.

Sentiment

Score: 7

Explanation: The document describes a routine executive compensation event. It's generally positive as it incentivizes management, but not significantly impactful on its own.

Positives

• The RSU grant aligns the executive's interests with the long-term performance of the company.
• The vesting schedule incentivizes continued service and commitment from the executive.

Risks

• The value of the RSU grant is subject to the volatility of Core Scientific's stock price.
• The executive must remain employed by the company to fully vest the RSUs.

Future Outlook

The vesting schedule suggests an expectation of continued service and contribution from the executive over the next two years and beyond.

Industry Context

Stock grants are a common form of executive compensation in the technology and cryptocurrency mining industries, used to attract and retain talent and align their interests with shareholder value.

Comparison to Industry Standards

• Comparing the size and vesting schedule of this RSU grant to those of executives at similar-sized cryptocurrency mining companies (e.g., Marathon Digital Holdings, Riot Platforms) would provide a benchmark for assessing its competitiveness.
• Factors to consider include the percentage of equity granted relative to the executive's base salary, the vesting period, and the performance metrics (if any) attached to the grant.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for the executive to contribute to the company's success.
• Employees may see the grant as a sign of the company's commitment to its leadership team.

Key Dates

Keywords

Core Scientific, CORZ, Todd DuChene, restricted stock units, RSU, stock grant, executive compensation, beneficial ownership