Ares Partners Holdco LLC 4

What Happened

• Reporting persons of X‑Energy, Inc. filed an exit Form 4 noting that, upon the closing of the company's initial public offering on April 27, 2026, their ownership of Class A common stock was diluted below 10%. As a result, they are no longer subject to Section 16 reporting obligations. The filing states no additional securities were acquired or disposed of in connection with this change.

Key Details

• Transaction date / triggering event: April 27, 2026 (closing of IPO).
• Filing date: April 29, 2026.
• Activity reported: No purchases, sales, exercises, gifts, or other dispositions — this is an exit/notice only.
• Shares owned after transaction: Ownership reported as below 10%; exact post‑IPO share counts or dollar values are not provided in this Form 4.
• Footnotes: The report is voluntary and explicitly states there were no additional acquisitions or dispositions. No 10b5‑1 plans, tax‑withholding dispositions, or derivative transactions are reported.
• Timeliness: Filed two days after the IPO closing date; the filing does not indicate a late report.

Context

• Exiting Section 16 simply means these insiders are no longer required to file Form 4s for future short‑swing transactions once their ownership stays below the 10% threshold; it does not reflect a purchase or sale decision by the insiders.
• For retail investors: this filing contains no insider buying (which can be a bullish signal) nor insider selling; it is informational, showing only that ownership percentage fell due to the IPO.