QXO Director Alec C. Covington Receives RSU Award (9,639 Shares)

What Happened

• Alec C. Covington, a director of QXO, was granted 9,639 restricted stock units (RSUs) on July 15, 2026. The RSUs were issued at $0.00 per unit (no cash paid) and are reported as a derivative award.
• Each RSU represents a contingent right to receive one share of QXO common stock upon settlement. No immediate shares of common stock were exchanged in the open market.

Key Details

• Transaction date: 2026-07-15; Form 4 filed: 2026-07-17 (timely filing).
• Grant price: $0.00 per RSU (award/derivative; transaction code A).
• RSUs granted: 9,639. They vest in full on the date of QXO’s 2027 Annual Meeting of Stockholders, subject to Covington’s continued service as a director.
• Shares owned after transaction (reported/updated): the Form 4 notes previously reported 153,862 common shares received in the merger were updated to reflect 25 additional common shares (totaling 153,887 common shares), plus the 9,639 RSUs granted.
• Footnotes: F2 clarifies each RSU converts one-for-one to common stock on settlement; F3 states full vesting at the 2027 annual meeting; F1 documents the merger-related adjustment of common shares received.

Context

• RSU grants are a non-cash compensation/retention tool for directors; they are contingent and do not represent immediate market purchases or sales. These RSUs will only become actual shares if and when they vest and are settled, so they are different from an outright buy or sale.