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., filed 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 amendment to her Form 4, originally filed on September 13, 2023.
• The amendment corrects the number of shares withheld by the issuer to satisfy tax withholding obligations related to the vesting of her Restricted Stock Unit (RSU) Award.
• An error in tax withholding rates for RSU Awards in 2023 and 2024 was discovered and corrected, leading to the amended filing.
• The amendment also reflects a 1-for-30 reverse stock split of Xos, Inc.'s common stock, which occurred on December 6, 2023.
• On September 11, 2023, 1,372 shares were sold at $9.06 to cover tax obligations.
• Following the reported transaction, Ms. Pogosyan beneficially owns 11,575 shares, including 8,983 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 Awards in 2023 and 2024 was discovered and corrected, necessitating the amended filing.

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 reverse stock split.

Key Dates