Form 4: Exodus Movement CSO Granted 16,064 RSUs

Exodus Movement's Chief Security Officer, Gerardo Di Giacomo, was granted 16,064 restricted stock units, increasing his total beneficial ownership to 79,708 RSUs.

Summary

• Gerardo Di Giacomo, Chief Security Officer of Exodus Movement, Inc. (EXOD), acquired 16,064 Class A Common Stock restricted stock units (RSUs) on November 7, 2025.
• The acquisition price for these RSUs was $0.
• Following this transaction, Mr. Di Giacomo beneficially owns a total of 79,708 Class A Common Stock RSUs.
• The newly granted 16,064 RSUs will vest with one-quarter on June 1, 2026, and the remaining three-quarters in 36 equal monthly installments from July 1, 2026, through June 1, 2029.
• The total beneficial ownership of 79,708 RSUs includes a previous grant of 63,644 RSUs from July 18, 2025, which follows the same vesting schedule: one-quarter on June 1, 2026, and the remainder in 36 equal monthly installments from July 1, 2026, through June 1, 2029.

Sentiment

Score: 7

Explanation: The sentiment is positive as the RSU grant serves as a strong incentive for executive retention and aligns the Chief Security Officer's interests with long-term shareholder value. It's a routine, positive event for executive compensation.

Positives

• The grant of restricted stock units aligns the Chief Security Officer's financial interests with those of the shareholders, incentivizing long-term performance and retention.
• The vesting schedule promotes executive retention over several years, ensuring continuity in leadership.

Future Outlook

The future outlook for the Chief Security Officer's equity compensation is tied to the company's performance and his continued employment, with significant portions of his RSU grants scheduled to vest over the next several years through June 2029.

Industry Context

This Form 4 filing represents a routine executive compensation event, common across publicly traded companies, where restricted stock units are granted to key personnel to incentivize long-term commitment and align their interests with shareholder value creation. Such grants are a standard component of executive compensation packages in the technology and financial services sectors, particularly for companies like Exodus Movement operating in the digital asset space.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) as a form of executive compensation is a standard practice across various industries, including technology and financial services, aligning with compensation strategies seen at companies like Coinbase, Block (Square), and Robinhood.
• The multi-year vesting schedule (over approximately 3-4 years) is typical for RSU grants, designed to promote long-term retention and performance, comparable to vesting schedules observed at major tech firms such as Google (Alphabet) and Apple.
• The grant price of $0 for RSUs is standard, as these represent a right to receive shares upon meeting vesting conditions, rather than a purchase.

Stakeholder Impact

• Shareholders: The RSU grant aligns the Chief Security Officer's long-term interests with shareholder value, potentially leading to more stable and focused leadership.
• Employees: This compensation structure can serve as a positive signal regarding the company's commitment to retaining key talent and its long-term prospects.
• Management: The grant provides a significant equity incentive, enhancing the Chief Security Officer's personal stake in the company's success and fostering retention.

Next Steps

• Vesting of one-quarter of the RSUs on June 1, 2026.
• Commencement of monthly vesting installments for the remaining three-quarters of RSUs starting July 1, 2026.
• Continued monthly vesting of RSUs through June 1, 2029.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event involving the grant of restricted stock units. While positive for executive retention and alignment of interests, it does not present new fundamental information that would significantly alter the investment thesis for Exodus Movement, Inc. Therefore, a 'hold' recommendation is appropriate, as this transaction alone is unlikely to drive a material change in the stock's valuation or outlook.

Keywords

Exodus Movement, EXOD, Restricted Stock Units, RSU Grant, Executive Compensation, Insider Transaction, Form 4, Stock Ownership