Form 4: Xos Inc. Director George N. Mattson Reports Changes in Beneficial Ownership

Director George N. Mattson reports acquisition and disposal of Xos, Inc. common stock, including restricted stock units (RSUs) vested immediately on the date of grant in lieu of cash retainer for Q1 2024.

Summary

• On April 10, 2024, George N. Mattson, a director of Xos, Inc., reported changes in beneficial ownership of the company's common stock.
• Mattson acquired 778 shares of common stock through Restricted Stock Units (RSUs) that vested immediately upon grant, valued at $0.
• These RSUs were issued in lieu of a cash retainer for the director's service in Q1 2024.
• Mattson also disposed of an unspecified amount of common stock.
• Following the reported transactions, Mattson directly owns 30,530 shares of common stock, including 15,450 unvested RSUs.
• Mattson also indirectly owns 132,450 shares through NGAC GNM Feeder LLC and 33,333 shares through GNM ICBC LLC, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• The report was filed on April 12, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it's a standard regulatory filing detailing changes in ownership. The acquisition of RSUs in lieu of cash could be seen as slightly positive, indicating cost management.

Positives

• The acquisition of RSUs demonstrates continued alignment of the director's interests with the company's performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates