Enovix Corp (ENVX) CLO withholds 2,221 shares to cover RSU taxes
Rhea-AI Filing Summary
Enovix Corp reported that Chief Legal Officer Arthi Chakravarthy had 2,221 shares of common stock withheld on July 24, 2026 at $3.95 per share to cover tax obligations arising from vesting RSUs. After this tax-withholding disposition, Chakravarthy directly holds 584,471 shares, including 353,355 shares issuable from RSUs and multiple PRSU awards scheduled for release between March 2027 and April 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,221 shares
Net Sell
1 txn
Insider
Chakravarthy Arthi
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock F1, F2 | 2,221 | $3.95 | $9K |
Holdings After Transaction:
Common Stock — 584,471 shares (Direct)
Footnotes (2)
- F1. 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").
- F2. Includes 353,355 shares issuable upon the vesting and settlement of RSUs granted to the Reporting Person, as well as: (i) 10,393 vested performance restricted stock units ("PRSUs"), which will be released to the Reporting Person in March 2027, and (ii) an aggregate of 58,500 PRSUs, 50% of which will be released in April 2027, with the remainder to be released in April 2028. Each PRSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
Key Figures
Shares withheld for taxes: 2,221 shares
Withholding price per share: $3.95 per share
Shares held after transaction: 584,471 shares
+3 more
6 metrics
Shares withheld for taxes
2,221 shares
Common stock withheld on July 24, 2026 to satisfy tax obligations on RSU vesting
Withholding price per share
$3.95 per share
Value used for tax-withholding disposition of 2,221 Enovix common shares
Shares held after transaction
584,471 shares
Total direct Enovix common stock beneficially owned by Chakravarthy following the withholding
RSUs outstanding
353,355 shares
Shares issuable upon vesting and settlement of RSUs granted to Chakravarthy
Vested PRSUs
10,393 units
Vested PRSUs scheduled to be released to Chakravarthy in March 2027
Unreleased PRSUs
58,500 units
PRSUs, half to be released in April 2027 and half in April 2028
Key Terms
restricted stock units, performance restricted stock units, tax withholding obligations
3 terms
restricted stock units financial
"Reflects the withholding of shares ... in connection with the vesting of restricted stock units ("RSUs")."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance restricted stock units financial
"Includes ... vested performance restricted stock units ("PRSUs"), which will be released ..."
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
tax withholding obligations financial
"to satisfy tax withholding obligations in connection with the vesting of restricted stock units"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction involving Enovix (ENVX) and Arthi Chakravarthy was reported?
Chief Legal Officer Arthi Chakravarthy had 2,221 Enovix shares withheld at $3.95 per share on July 24, 2026 to pay tax obligations on vesting RSUs. This was a tax-withholding disposition rather than an open-market purchase or sale.
Was the Enovix (ENVX) transaction by Arthi Chakravarthy an open-market sale?
No, the transaction was a tax-withholding disposition, not an open-market sale. Shares were withheld by Enovix to satisfy Chakravarthy’s tax obligations triggered by vesting restricted stock units, consistent with the Form 4 code F description.
What RSU holdings for Enovix (ENVX) does Arthi Chakravarthy have after this event?
Chakravarthy’s holdings include 353,355 shares issuable upon vesting and settlement of RSUs. These RSUs represent time-based equity awards that will convert into Enovix common shares upon satisfaction of vesting conditions and settlement terms described in the compensation arrangements.
What performance-based Enovix (ENVX) PRSUs are reported for Arthi Chakravarthy?
Holdings include 10,393 vested PRSUs to be released in March 2027 and an additional 58,500 PRSUs, half scheduled for release in April 2027 and half in April 2028. Each PRSU represents a contingent right to receive one Enovix share upon settlement.
Was the Enovix (ENVX) tax-withholding transaction under a Rule 10b5-1 plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not marked as affirmatively adopted. The transaction is described as a tax-withholding disposition related to RSU vesting, with no additional disclosure tying it to a pre-arranged trading plan.