Dietmar Ostermann, a director at Xos Inc., sold 10,000 ordinary shares on August 20 for a total of $34,913 at a weighted average price of $3.4913 per share, according to a filing on August 25.
The transaction occurred as Xos’s stock closed at $3.49 on August 24, down 0.29% on the day. After-hours trading showed an additional decline of 2.01% to $3.42. The stock has gained nearly 93% year-to-date but remains down 21% over the past week.
Ostermann’s post-transaction holdings include 105,226 ordinary shares, which incorporate 60,584 unvested restricted stock units. The disposal follows Xos’s recent entry into the defense sector, having secured a prototype contract with the United States Air Force to develop a mobile charging system for electrified support vehicles and equipment.
Xos reported a narrower-than-projected second-quarter loss of $0.55 per share, compared with an expected $0.60 loss, but revenue fell short at $4.7 million versus a forecast of $12.15 million. The shortfall was attributed to a sharp year-over-year decline in deliveries.
