XE · X-Energy, Inc. · Insider Trading
2 customers — 92% of revenue (three months ended March 31, 2026)
“For the three months ended March 31, 2026, two customers, the U.S. Government and the DOW Chemical Company (“Dow”) accounted for 92% and 4%, respectively, of the Company’s total revenue and grant income.”
One customer — 4% of revenue (three months ended March 31, 2026)
“For the three months ended March 31, 2026, two customers, the U.S. Government and the DOW Chemical Company (“Dow”) accounted for 92% and 4%, respectively, of the Company’s total revenue and grant income.”
2 customers — 82% of revenue (three months ended March 31, 2025)
“For the three months ended March 31, 2025, the United States Government and Dow accounted for 82% and 10%, respectively, of the Company’s total revenue and grant income.”
One customer — 10% of revenue (three months ended March 31, 2025)
“For the three months ended March 31, 2025, the United States Government and Dow accounted for 82% and 10%, respectively, of the Company’s total revenue and grant income.”
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2026-06-12 | Ghaffarian Kamal Seyed |
Director, 10% Owner |
Other↑
Filing footnotes — Class A Common Stock (Indirect)
On June 12, 2026, IBX, LLC perfected its security interest in 279,438 shares of the Issuer's Class A Common Stock to secure the payment in full of the amount owed to it under a non-negotiable promissory note made by an unaffiliated third party in favor of IBX, LLC and gave notice of default to such third party. On that date, the outstanding amount due under the note was $3,727,858. The balance owed under the note will increase at the rate of $1,414.00 per day, plus costs and expenses of collection. Based on the closing price for such shares on NASDAQ on June 12, 2026, of $18.59 per share, 200,530 shares would have been required to satisfy the note on that date. However, upon the actual transfer of the shares of the Issuer's Class A Common Stock, the number of shares transferred to satisfy the then-outstanding amount under the note may be different from that number up to 279,438 shares. Consists of (i) 471,774 shares of Class A Common Stock held by GM Enterprises, LLC, (ii) 3,951,679 shares of Class A Common Stock held by X-Energy Holdings, LLC, (iii) 12,973 shares of Class A Common Stock held by IBX Opportunity GP, Inc., (iv) 592,651 shares of Class A Common Stock held by X-energy KG Parent, LLC and (v) 279,438 shares of Class A Common Stock held by IBX, LLC. Dr. Kamal Ghaffarian has sole voting and dispositive power with respect to securities held by each of the foregoing entities. Dr. Kamal Ghaffarian disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |
Class A Common Stock
(I)
|
279,438 |
| 2026-06-01 | GARCIA LAURA |
Chief Accounting Officer |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Represents a grant of restricted stock units ("RSUs"). Each RSU represents a right to receive one share of the Issuer's Class A common stock upon vesting. The RSUs vest in three subtantially equal annual installments beginning on the first anniversary of the grant date. |
Class A Common Stock
|
43,478 |
| 2026-06-01 | Gross Daniel Andrew |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Represents a grant of restricted stock units ("RSUs"). Each RSU represents a right to receive one share of the Issuer's Class A common stock upon vesting. The RSUs vest in four substantially equal annual installments beginning on December 23, 2026. |
Class A Common Stock
|
246,665 |
| 2026-06-01 | Gross Daniel Andrew |
See Remarks |
Award↑
Filing footnotes — Stock Option (Direct)
The stock options vest in four substantially equal annual installments beginning on December 23, 2026. |
Stock Option
|
332,615 |
| 2026-04-28 | GINTHER CHRISTOPHER |
Director |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. Includes 16,750 shares of restricted stock. |
Class A Common Stock
|
6,522 |
| 2026-04-28 | Goff Gregory James |
Director |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. Includes 16,750 shares of restricted stock. |
Class A Common Stock
|
6,522 |
| 2026-04-28 | Ghaffarian Kamal Seyed |
Director, 10% Owner |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. |
Class A Common Stock
|
6,522 |
| 2026-04-28 | SONNENSCHEIN EDWARD |
Director |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. Includes 17,540 shares of restricted stock. |
Class A Common Stock
|
6,522 |
| 2026-04-28 | Wallace Michael J Wallace |
Director |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. Includes 17,540 shares of restricted stock. |
Class A Common Stock
|
6,522 |
| 2026-04-28 | HYLE KATHLEEN W |
Director |
Award↑
Filing footnotes — Class A Common Stock (Direct)
Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. Includes 29,410 shares of restricted stock. |
Class A Common Stock
|
6,522 |
| 2026-04-27 | HYLE KATHLEEN W |
Director |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Shares acquired pursuant to a Directed Share Program in connection with the initial public offering of X-Energy, Inc. |
Class A Common Stock
|
10,000 |
| 2026-04-27 | GARCIA LAURA |
Chief Accounting Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Shares acquired pursuant to a Directed Share Program in connection with the initial public offering of X-Energy, Inc. Includes 75,254 shares of restricted stock. |
Class A Common Stock
|
1,200 |
| 2026-04-27 | Wallace Michael J Wallace |
Director |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Shares acquired pursuant to a Directed Share Program in connection with the initial public offering of X-Energy, Inc. |
Class A Common Stock
|
1,000 |
| 2026-04-27 | Duling Joel |
President, TRISO-X |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Shares acquired pursuant to a Directed Share Program in connection with the initial public offering of X-Energy, Inc. |
Class A Common Stock
|
100 |