Sec Form 4 Filing - Ghaffarian Kamal Seyed @ X-Energy, Inc. - 2026-04-28

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Ghaffarian Kamal Seyed 2. Issuer Name and Ticker or Trading Symbol X-Energy, Inc. [ XE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O X-ENERGY, INC., 530 GAITHER ROAD, SUITE 700 3. Date of Earliest Transaction (MM/DD/YY) 04/28/2026 (Street) ROCKVILLE, MD20850 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 04/28/2026 A 6,522 A $ 0 ( 1 ) 1,240,543 D Class A Common Stock 5,029,077 I See footnote ( 2 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Ghaffarian Kamal Seyed C/O X-ENERGY, INC. 530 GAITHER ROAD, SUITE 700 ROCKVILLE, MD20850 X X X-Energy Holdings, LLC C/O X-ENERGY, INC. 530 GAITHER ROAD, SUITE 700 ROCKVILLE, MD20850 X Signatures /s/ Elizabeth Petrone, Attorney-in-Fact 04/29/2026 Signature of Reporting Person Date By: Kamal Ghaffarian, Executive Chairman, By: /s/ Elizabeth Petrone, Attorney-in-Fact 04/29/2026 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Each restricted stock unit ("RSU") represents the right to receive one share of Class A common stock. The RSUs will vest on the earlier to occur of (x) April 27, 2027 and (y) the date of the 2027 Annual Meeting, subject to continued service. ( 2 )Consists of (i) 471,774 shares of Class A Common Stock and 8,963,719 Common Units and a corresponding number of shares of Class B Common Stock held by GM Enterprises, LLC, (ii) 3,951,679 shares of Class A Common Stock and 75,081,916 Common Units and a corresponding number of shares of Class B Common Stock held by X-Energy Holdings, LLC, (iii) 12,973 shares of Class A Common Stock and 246,498 Common Units and a corresponding number of shares of Class B Common Stock held by IBX Opportunity GP, Inc. and (iv) 592,651 shares of Class A Common Stock held by X-energy KG Parent, LLC. Dr. Kamal Ghaffarian has sole voting and dispositive power with respect to securities held by each of the foregoing entities. Dr. Kamal Ghaffarian disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

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.