Form 4: Digi Power X CEO Amar Boosts Direct Shareholding

Digi Power X Inc. CEO Michel Amar increased his direct beneficial ownership by 166,666 subordinate voting shares through the settlement of restricted stock units.

Summary

• Michel Amar, CEO, Director, and 10% Owner of Digi Power X Inc. (DGXX), acquired 166,666 Subordinate Voting Shares (SV Shares) on February 9, 2026.
• This acquisition resulted from the settlement of restricted stock units (RSUs), where each RSU represents a contingent right to receive one SV Share.
• Following this transaction, Amar directly beneficially owns 1,679,885 SV Shares.
• Amar also indirectly beneficially owns 626,544 SV Shares through Bit Mining International LLC, 2,165,889 SV Shares through Bit.Management, LLC, and 1,493,162 SV Shares through NYAM, LLC.
• Additionally, Amar holds derivative securities including fully vested employee stock options for 515,000 SV Shares (exercise price $1.54 USD) and 900,000 SV Shares (exercise price $3.62 USD).
• Remaining restricted stock units include 166,667 units vesting on February 9, 2027; 316,667 units vesting in two equal annual installments starting December 1, 2026; and 300,000 units vesting in three equal annual installments starting November 19, 2026.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal. The CEO's increased direct ownership through RSU settlement, combined with substantial existing holdings and vested options, indicates strong insider confidence and alignment with shareholder interests, which is generally favorable.

Positives

• Increased direct beneficial ownership by CEO Michel Amar, signaling confidence in the company's future.
• The settlement of restricted stock units indicates a successful vesting event for executive compensation.
• Significant indirect holdings and vested options demonstrate substantial alignment of management's interests with shareholders.

Future Outlook

The filing primarily reports past transactions and current holdings, with forward-looking statements limited to the vesting schedules of remaining restricted stock units, indicating future share issuances to the CEO.

Management Comments

• Each restricted stock unit represents a contingent right to receive one subordinate voting share ('SV Share') of the Company as of the vesting date. Accordingly, these restricted stock units were settled in SV Shares.
• The options are fully vested.

Industry Context

StockSavvy.ai notes that insider buying, particularly by a CEO and 10% owner, is often interpreted by the market as a positive signal, suggesting management's confidence in the company's future prospects. In the digital power or cryptocurrency mining sector (implied by "Digi Power X" and "Bit Mining International LLC"), such an increase in ownership could be seen as a strong vote of confidence amidst potentially volatile market conditions.

Comparison to Industry Standards

• StockSavvy.ai observes that the CEO's substantial direct and indirect holdings, totaling over 5.9 million SV Shares (excluding potential conversion of PV shares and future RSU vesting), align with best practices for executive ownership, demonstrating significant skin in the game. For instance, CEOs at comparable growth-stage technology companies often hold a substantial percentage of outstanding shares, though specific benchmarks vary widely by market capitalization and industry.
• The vesting schedules for RSUs, extending into 2027, are typical for long-term incentive plans designed to retain key executives and align their interests with long-term shareholder value creation, similar to practices seen at companies like Riot Platforms or Marathon Digital Holdings in the digital asset space.

Related Party Transactions

• Indirect beneficial ownership through entities like Bit Mining International LLC, Bit.Management, LLC, and NYAM, LLC, which are likely related parties given the CEO's involvement.

Stakeholder Impact

• Shareholders: Increased confidence due to CEO's expanded direct ownership, signaling strong belief in the company's future.
• Employees: The vesting of RSUs and options demonstrates the company's commitment to executive compensation plans, which can positively influence employee morale and retention.

Next Steps

• Remaining 166,667 restricted stock units are scheduled to vest on February 9, 2027.
• Remaining 316,667 restricted stock units are scheduled to vest in two equal annual installments beginning on December 1, 2026.
• Remaining 300,000 restricted stock units are scheduled to vest in three equal annual installments beginning on November 19, 2026.

Key Dates

Recommendation

The filing indicates a routine insider transaction (RSU settlement) and an increase in direct ownership by the CEO, which is generally a positive signal of confidence. However, it does not provide new operational or financial performance data that would warrant a "buy" or "sell" recommendation. The substantial existing holdings and future vesting schedules suggest long-term alignment, supporting a "hold" position for existing investors, while new investors might await more comprehensive financial updates.

Keywords

Digi Power X Inc., DGXX, Michel Amar, Form 4, Insider Trading, Beneficial Ownership, Restricted Stock Units, Employee Stock Options, Subordinate Voting Shares, CEO, Director, 10% Owner