Form 4: Exodus Movement Director Sells Shares to Cover Tax Obligations
SEC Form 4
Daniel Castagnoli, a director and 10% owner of Exodus Movement, Inc., sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- On May 1, 2025, Daniel Castagnoli, a director and 10% owner of Exodus Movement, Inc., had shares withheld to cover tax obligations.
- This was in connection with the vesting and settlement of restricted stock units (RSUs) previously granted under the company's equity incentive plans.
- A total of 9,285 shares of Class A Common Stock were withheld at a price of $39.04 per share.
- Following the transaction, Castagnoli beneficially owns 781,589 shares.
- These holdings include RSUs that vest in monthly installments through January 1, 2026, January 1, 2027 and January 1, 2028.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects a standard transaction for tax purposes.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for company insiders to sell shares to cover taxes when RSUs vest.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Date of Earliest Transaction |
| 01/05/2022 | Date of original grant of 12,196 RSUs that vest in equal monthly installments through January 1, 2026 |
| 01/01/2023 | Date of original grant of 260,417 RSUs that vest in equal monthly installments through January 1, 2027 |
| 03/13/2024 | Date of original grant of 204,500 RSUs that vest in equal monthly installments through January 1, 2028 |
| 05/01/2025 | Transaction Date: Shares withheld for tax obligations related to vesting RSUs |
| 05/02/2025 | Date of signature of the form |
| 01/01/2026 | RSUs originally granted on January 5, 2022 vest in equal monthly installments through this date |
| 01/01/2027 | RSUs originally granted on January 1, 2023 vest in equal monthly installments through this date |
| 01/01/2028 | RSUs originally granted on March 13, 2024 vest in equal monthly installments through this date |
Keywords
Form 4, Beneficial Ownership, Daniel Castagnoli, Exodus Movement, EXOD, Restricted Stock Units, RSUs, Tax Withholding, Director, 10% Owner
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