4/A: Xos Inc. Executive Liana Pogosyan Amends Filing to Correct Tax Withholding and Reflect Reverse Stock Split
SEC Form 4/A (Amendment)
Liana Pogosyan, Acting CFO of Xos, Inc., files an amended Form 4 to correct tax withholding errors related to RSU vesting and 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 previously reported RSU awards.
- An error in tax withholding rates for RSU awards in 2023 and 2024 was discovered and corrected.
- The filing also reflects a 1-for-30 reverse stock split of Xos, Inc.'s common stock, which occurred on December 6th, 2023.
- On March 10, 2024, Pogosyan acquired 2,893 shares of common stock at $0 and disposed of 423 shares at $12.48.
- Following these transactions, Pogosyan beneficially owns 11,370 shares, including 6,535 unvested RSUs.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing is a routine correction of administrative errors and a reflection of a previously announced corporate action (reverse stock split). There are no indications of significant positive or negative developments.
Negatives
- The amended filing indicates previous errors in tax withholding rates related to RSU awards.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, and the correction of tax withholding errors is not uncommon. The reverse stock split is a corporate action often taken to increase the stock price and maintain listing requirements.
Key Dates
| Date | Description |
|---|---|
| 2023/12/06 | Common stock of Xos, Inc. reverse split 1-for-30 |
| 2024/03/10 | Acquisition and disposition of common stock |
| 2024/03/12 | Date of original Form 4 filing |
| 2024/04/10 | First Monthly Vesting Date for RSU Award |
| 2024/04/29 | Date of amended filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.