Form 4: Exodus Movement Insider Sells Shares for Tax Obligations

Daniel Castagnoli, a Director and Officer of Exodus Movement, Inc., sold 9,878 shares of Class A Common Stock to cover tax withholding obligations related to RSU vesting.

Summary

• Daniel Castagnoli, a Director, 10% Owner, and President of 3ZERO at Exodus Movement, Inc. (EXOD), reported a transaction on December 1, 2025.
• The transaction involved the disposition of 9,878 shares of Class A Common Stock at a price of $16.52 per share.
• This disposition was due to tax withholding obligations connected to the vesting and settlement of restricted stock units (RSUs) previously granted under the Issuer's equity incentive plans.
• Following this transaction, Castagnoli beneficially owns 774,173 shares of Class A Common Stock.
• This beneficial ownership includes 1,525 RSUs originally granted on January 5, 2022, that vest in equal monthly installments through January 1, 2026.
• It also includes 169,271 RSUs originally granted on January 1, 2023, that vest in equal monthly installments through January 1, 2027.
• Further, it includes 159,766 RSUs originally granted on March 13, 2024, that vest in equal monthly installments through January 1, 2028.
• Lastly, it includes 49,409 RSUs originally granted on May 21, 2025, that vest in equal monthly installments through January 1, 2029.

Sentiment

Score: 5

Explanation: The transaction represents a routine, non-discretionary sale of shares to cover tax obligations upon RSU vesting, which is a common practice for executives. It does not indicate a change in the insider's investment sentiment or the company's fundamental outlook.

Positives

• The transaction is a non-discretionary sale to cover tax obligations, not a sale driven by a change in investment sentiment.
• Daniel Castagnoli retains significant beneficial ownership of 774,173 shares, including a substantial number of unvested Restricted Stock Units (RSUs), indicating continued alignment with shareholder interests.

Negatives

• The direct beneficial ownership of Class A Common Stock by Daniel Castagnoli decreased by 9,878 shares as a result of the transaction.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing reports a routine insider transaction related to equity compensation and tax obligations, which is a common occurrence across publicly traded companies and does not inherently reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and the insider retains significant beneficial ownership.
• Employees: No direct impact on the broader employee base is indicated by this specific filing.

Next Steps

• Continued vesting of Daniel Castagnoli's remaining Restricted Stock Units (RSUs) through January 1, 2029, as per the original grant schedules.

Key Dates

Recommendation

This Form 4 reports a non-discretionary sale of shares by an insider to satisfy tax withholding obligations related to RSU vesting. Such transactions are routine and do not typically signal a change in the company's fundamentals or the insider's long-term view. The insider retains a substantial beneficial ownership, including significant unvested RSUs, maintaining alignment with shareholder interests. Therefore, this filing alone does not warrant a change in investment recommendation.

Keywords

Exodus Movement, EXOD, Form 4, insider transaction, RSU vesting, tax withholding, stock disposition, Daniel Castagnoli