Tax withholding trims Enovix (NASDAQ: ENVX) ex-COO’s share stake

Rhea-AI Filing Summary

Enovix Corp former Chief Operating Officer Ajay Marathe reported a tax-withholding disposition of 7,352 shares of common stock at $5.92 per share, tied to vesting of restricted stock units. After this withholding, he directly holds 313,893 shares. A separate disclosure notes cancellation of 596,596 RSUs, including 33,170 vested performance RSUs, with half scheduled for release on March 2, 2026 and the remainder on March 1, 2027.

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

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X

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^*

Marathe Ajay

(Last) (First) (Middle)

C/O ENOVIX CORPORATION

3501 W. WARREN AVENUE

(Street)

FREMONT CA 94538

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Enovix Corp [ ENVX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/14/2026

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

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

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

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
Common Stock	02/14/2026		F		7,352(1)	D	$5.92	313,893(2)	D

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:

1. Reflects the withholding of shares of the Issuer's common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock units ("RSUs").

2. Amount reflects the cancellation of 596,596 RSUs in connection with the Reporting Person's departure and includes 33,170 shares of vested performance RSUs ("PRSUs"), of which 50% will be released in on March 2, 2026 and the remaining 50% will be released on March 1, 2027. Each PRSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.

Remarks:

	/s/ Arthi Chakravarthy, Attorney-in-Fact for Ajay Marathe	02/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Ajay Marathe report in the latest Enovix (ENVX) Form 4 filing?

Ajay Marathe reported a tax-withholding disposition of 7,352 Enovix common shares at $5.92 each. The shares were withheld to cover taxes on vesting restricted stock units, a routine administrative transaction rather than an open-market share sale.

Was the Enovix (ENVX) Form 4 a discretionary share sale by Ajay Marathe?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were withheld by Enovix to satisfy tax obligations arising from restricted stock unit vesting, as described in the filing’s footnote, rather than sold at Marathe’s discretion.

How many Enovix (ENVX) shares does Ajay Marathe own after the reported transaction?

Following the tax-withholding disposition, Ajay Marathe directly holds 313,893 shares of Enovix common stock. This figure reflects his remaining direct ownership after 7,352 shares were withheld to cover tax obligations on vested restricted stock units.

What restricted stock unit (RSU) cancellations were disclosed for Enovix (ENVX) ex-COO Ajay Marathe?

The filing states that 596,596 RSUs were cancelled in connection with Marathe’s departure. This total includes 33,170 vested performance RSUs, which remain subject to a scheduled release over future dates despite the broader RSU cancellation.

When will Ajay Marathe’s Enovix (ENVX) performance RSUs be released?

The filing notes 33,170 vested performance RSUs, with 50% scheduled for release on March 2, 2026 and the remaining 50% on March 1, 2027. Each PRSU represents a contingent right to receive one Enovix common share upon settlement.