Aljomaih Automotive Co. 4

What Happened Aljomaih Automotive Co., a reported 10% owner of Xos, recorded a disposition on Nov 11, 2025 reflecting the issuer’s scheduled repayment of $1,500,000 principal of a convertible note. The $1.5M principal amount was repaid and extinguished for face value (Footnote 5). That principal amount would have been convertible into 20,993 common shares at the stated conversion price of $71.451 per share (Footnote 3). This filing reflects a debt repayment/derivative disposition — not an open‑market sale of Xos common stock.

Key Details

• Transaction date: November 11, 2025; filing date: May 8, 2026 (late filing).
• Economic amount repaid: $1,500,000 principal (note was extinguished for face value).
• Convertible-equivalent shares: $1.5M ÷ $71.451 = 20,993 shares (would have been issued if converted).
• Remaining convertible principal after the transaction: $18,500,000, convertible into 258,919 shares at $71.451/share (Footnote 6).
• Interest: Accrued interest (10% per annum since Aug 11, 2025) may be payable in shares at a 10‑day VWAP on payment, subject to limits and timing restrictions (Footnotes 1, 4, 6).
• Filing code: Transaction reported as “other acquisition or disposition (J)” — reflects a debt repayment/derivative event rather than a typical buy/sell of stock.
• Timeliness: The Form 4 was filed late (transaction in Nov 2025, filed May 2026); late filings can reduce transparency for investors.

Context This was a repayment/extinguishment of a convertible debt instrument, not a direct sale of common shares. For retail investors, note that 10% owners are institutional/strategic holders and such derivative adjustments (repayments, conversions, interest-paid-in-stock mechanics) often reflect debt servicing or contractual terms rather than a manager’s view on the company’s stock price.