4/A: Xos Inc. Acting CFO Liana Pogosyan 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 errors related to RSU vesting and to reflect a 1-for-30 reverse stock split.

Summary

• Liana Pogosyan, the Acting Chief Financial Officer of Xos, Inc., filed an amendment to her Form 4.
• The amendment corrects the number of shares withheld by the issuer to satisfy tax obligations related to the vesting of her Restricted Stock Unit (RSU) award.
• An error in tax withholding rates for RSU vesting in 2023 and 2024 was discovered and corrected.
• The amendment also reflects a 1-for-30 reverse stock split of Xos, Inc.'s common stock that occurred on December 6, 2023.
• On April 10, 2024, 631 shares of common stock were disposed of at a price of $8.58 to cover tax obligations.
• Following the reported transaction, Pogosyan beneficially owns 10,739 shares, including 5,319 unvested RSUs.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing. The correction of a tax withholding error is a minor 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.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their beneficial ownership of company stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• Shareholders are informed about changes in insider ownership and the correction of a tax withholding error.

Key Dates