4/A: Xos Inc. Acting CFO Amends Form 4 to Correct Tax Withholding and Reflect Reverse Stock Split

Liana Pogosyan, Acting CFO of Xos, Inc., files an amended Form 4 to correct tax withholding related to RSU vesting and reflect a 1-for-30 reverse stock split.

Summary

• Liana Pogosyan, the Acting Chief Financial Officer of Xos, Inc., filed an amended Form 4 with the SEC.
• The amendment corrects the number of shares withheld by the issuer to satisfy tax withholding obligations related to the vesting of previously reported Restricted Stock Units (RSUs).
• An error in tax withholding rates for RSU vesting in 2023 and 2024 was discovered and corrected, leading to the amendment.
• The amendment also reflects a 1-for-30 reverse stock split of Xos, Inc.'s common stock, which occurred on December 6, 2023.
• On February 10, 2024, 428 shares of common stock were disposed of at a price of $8.02 to cover tax obligations.
• Following the reported transaction, Ms. Pogosyan beneficially owns 8,900 shares, including 4,376 unvested RSUs.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing. The correction of a tax withholding error is slightly negative, but the overall impact is neutral.

Negatives

• An error in tax withholding rates for RSU vesting in 2023 and 2024 was discovered and required correction.

Risks

• Tax withholding errors can lead to compliance issues and require amended filings.

Industry Context

Form 4 filings are standard practice for company insiders reporting transactions in their company's stock. Amendments are sometimes necessary to correct errors or reflect changes in circumstances.

Stakeholder Impact

• Shareholders are informed of the corrected tax withholding and reverse stock split.

Key Dates