XCF Global (SAFX) holder sells 5M shares in open-market trade

Rhea-AI Filing Summary

XCF Global, Inc. insider Randy Soule reported an indirect open-market sale of 5,000,000 shares of Class A Common Stock on May 15, 2026. The shares were sold at an average price of $0.4074 per share through Encore DEC, LLC, where Soule is a member. After this transaction, the indirect holding reported for this entity is 72,383,239 shares of Class A Common Stock.

Insights

Equity ownership analyst

Large indirect holder sold 5,000,000 SAFX shares but retains a sizable stake.

An entity associated with Randy Soule, identified as Encore DEC, LLC, executed an open-market sale of 5,000,000 XCF Global Class A shares at $0.4074 each. This is categorized as a straightforward disposition rather than an option exercise or restructuring.

Following the sale, the filing shows indirect ownership of 72,383,239 shares of Class A Common Stock, indicating that a large position remains. As a result, the transaction looks like a notable liquidity event for a major holder while still leaving substantial exposure to SAFX.

Insider Trade Summary

Net Seller: 5,000,000 shares ($2,037,000)

Net Sell 1 txn

Insider SOULE RANDY

Role null

Sold 5,000,000 shs ($2.04M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	5,000,000	$0.4074	$2.04M

Holdings After Transaction: Class A Common Stock — 72,383,239 shares (Indirect, Member of Encore DEC, LLC)

Footnotes (1)

Key Figures

Shares sold: 5,000,000 shares Sale price: $0.4074 per share Shares held after sale: 72,383,239 shares +1 more

4 metrics

Shares sold 5,000,000 shares Class A Common Stock sold on May 15, 2026

Sale price $0.4074 per share Average price for the 5,000,000-share sale

Shares held after sale 72,383,239 shares Indirect holdings reported following the transaction

Net shares sold 5,000,000 shares Net change in buy/sell activity in this Form 4

Key Terms

open-market sale, Class A Common Stock, indirect ownership, ten percent owner

4 terms

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title: "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

indirect ownership financial

"ownership_type: "indirect" and ownership_code: "I""

ten percent owner financial

"is_ten_percent_owner: 1"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SOULE RANDY

(Last) (First) (Middle)

425 WESTERN RD - SUITE 102

(Street)

RENO NEVADA 89506

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
XCF Global, Inc. [ SAFX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	05/15/2026		S		5,000,000	D	$0.4074	72,383,239	I	Member of Encore DEC, LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Randy Soule	05/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Randy Soule report in the latest SAFX Form 4 filing?

Randy Soule reported an indirect open-market sale of 5,000,000 XCF Global Class A shares at $0.4074 each. The transaction was executed through Encore DEC, LLC, an entity in which he is a member, and reflects a reduction in that entity’s holdings.

How many SAFX shares did the Encore DEC, LLC entity sell?

The Encore DEC, LLC entity associated with Randy Soule sold 5,000,000 shares of XCF Global Class A Common Stock. These shares were disposed of in an open-market sale at an average price of $0.4074 per share, according to the reported Form 4 transaction details.

What is the reported remaining SAFX position after Randy Soule’s transaction?

After the reported sale, the Form 4 shows an indirect holding of 72,383,239 XCF Global Class A shares. This remaining position is held through Encore DEC, LLC, indicating that a large stake in SAFX continues to be owned following the 5,000,000-share disposition.

Was Randy Soule’s SAFX share sale a direct or indirect transaction?

The sale was reported as an indirect transaction, not a direct personal trade by Randy Soule. The 5,000,000 SAFX shares were held and sold by Encore DEC, LLC, with the nature of ownership described as “Member of Encore DEC, LLC” in the Form 4 filing.

What type of transaction was reported in the SAFX Form 4 for Randy Soule?

The SAFX Form 4 describes the transaction as an open-market sale of Class A Common Stock. It is coded as an “S” transaction, meaning a sale in open-market or private transaction, with 5,000,000 shares sold at an average price of $0.4074 per share.