Executive excise tax gross-up arrangement
Company: Core Scientific
The claim, verbatim
Named executive officers will receive gross-up payments if payments or benefits in connection with the merger become subject to Section 4999 excise tax, placing officers in the same after-tax position they would have been in without the excise tax
Source (primary)
Core Scientific 8-K filed 2025-07-07 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The excise tax reimbursement agreements provide the named executive officers with the right to receive a gross-up payment in the event that certain payments or benefits provided to such officers in connection with the Merger become subject to the excise tax pursuant to Section 4999 of the Internal Revenue Code. The gross-up payments would, subject to certain limitations, generally place the officers in the same after-tax position that they would have been in if the excise tax did not apply to such payments”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing describes excise tax reimbursement agreements that provide this gross-up. The payments are subject to certain limitations and do not cover ordinary income taxes.
Confirmed in the source:
- Named executive officers have the right to a gross-up payment if merger-related payments or benefits become subject to the Section 4999 excise tax
- The gross-up would generally place officers in the same after-tax position as if the excise tax did not apply
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1839341/000119312525156266/d945892d8k.htm) in full (34,823 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific 8-K filed 2025-07-07
Quote: “The excise tax reimbursement agreements provide the named executive officers with the right to receive a gross-up payment in the event that certain payments or benefits provided to such officers in connection with the Merger become subject to the excise tax pursuant to Section 4999 of the Internal Revenue Code. The gross-up payments would, subject to certain limitations, generally place the officers in the same after-tax position that they would have been in if the excise tax did not apply to such payments”