Ghaffarian Kamal Seyed 4
4 · X-Energy, Inc. · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
X‑Energy (XE) 10% Owner Kamal Ghaffarian Perfects Lien on 279,438 Shares
What Happened
- Dr. Kamal Ghaffarian, reported as a 10% owner (through entities he controls), did not sell or buy stock but caused IBX, LLC to perfect a security interest in 279,438 shares of X‑Energy Class A common stock on June 12, 2026. The lien secures a non‑negotiable promissory note owed to IBX, LLC by an unaffiliated third party. The outstanding principal on the note was $3,727,858 on June 12, 2026 (the balance accrues ~$1,414/day plus collection costs). At the June 12 close price of $18.59, about 200,530 shares would equal the then‑outstanding balance; however up to 279,438 shares may be transferred to satisfy the note.
Key Details
- Transaction date: June 12, 2026; transaction type: perfected security interest (other acquisition/disposition code J).
- Shares encumbered: 279,438 Class A shares held by IBX, LLC.
- Note balance: $3,727,858 as of June 12, 2026; increases ~$1,414/day plus costs.
- Market reference: NASDAQ close $18.59 on June 12, 2026 — ~200,530 shares would cover the balance at that price, though the number actually transferred may be up to 279,438 shares.
- Shares reported under Dr. Ghaffarian’s control after this filing (across related entities): 5,308,515 Class A shares (per footnote breakdown). He disclaims beneficial ownership except to the extent of pecuniary interest.
- Filing type: Encumbrance/security interest — not a market buy or sell; no indication this filing was late.
Context
- This is an encumbrance on shares (a lien to secure a third‑party loan) rather than insider trading; it does not necessarily reflect Dr. Ghaffarian’s view on company prospects.
- As a reported 10% owner via multiple entities, these disclosures reflect institutional/ownership arrangements rather than typical executive trading activity.
Insider Transaction Report
Form 4
Ghaffarian Kamal Seyed
Director10% Owner
Transactions
- Other
Class A Common Stock
[F1][F2]2026-06-12+279,438→ 5,308,515 total(indirect: See footnote)
Holdings
- 1,240,543
Class A Common Stock
Footnotes (2)
- [F1]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.
- [F2]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.