4/A: Xos Inc. Executive Amends Filing to Correct Tax Withholding and Reflect Reverse Stock Split

Liana Pogosyan, Acting CFO of Xos, Inc., amends a previous SEC filing to correct tax withholding amounts related to RSU vesting and to reflect a 1-for-30 reverse stock split.

Summary

• Liana Pogosyan, 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 this amendment.
• The filing also reflects a 1-for-30 reverse stock split of Xos, Inc.'s common stock, which occurred on December 6, 2023.
• After the transaction, Pogosyan directly owns 5,459 shares of common stock, including 4,186 unvested RSUs.

Sentiment

Score: 6

Explanation: The document is a routine amendment to a previous filing, primarily addressing administrative corrections. The reverse stock split is neither inherently positive nor negative, but rather a corporate action taken for various reasons.

Negatives

• An error in tax withholding rates for RSU vesting in 2023 and 2024 was discovered and corrected, leading to the need for an amended filing.

Stakeholder Impact

• Shareholders are impacted by the reverse stock split, which reduces the number of outstanding shares and proportionally increases the price per share.
• Employees holding RSUs are affected by the corrected tax withholding and the adjustment of their RSU holdings due to the reverse stock split.

Key Dates