[Form 4] Enovix Corporation Warrant Insider Trading Activity

Rhea-AI Filing Summary

Form 4 highlights: On 24-Jul-2025, SM Energy (SM) Senior Vice President – Business Development & Land Kenneth J. Knott reported insider equity transactions. A performance share unit (PSU) award vested, issuing 3,458 common shares to Knott (Code M). To satisfy tax withholding, 843 shares were disposed of at $24.71 each (Code F). His direct holdings after settlement total 134,235 common shares.

On 25-Jul-2025 Knott also received 15,361 restricted stock units (RSUs) that vest in six equal biannual installments starting 1-Jan-2026. Each RSU converts to one common share upon vesting, bringing his derivative holdings to 15,361 RSUs.

The net effect is an incremental 2,615-share increase in direct ownership, modestly reinforcing management-shareholder alignment. Given SM’s large public float, the dollar value is immaterial at the corporate level, implying limited market impact.

Positive

• Executive retained 3,458 vested shares, increasing direct ownership by 2,615 after tax settlement, indicating confidence in SM stock.
• 15,361 new RSUs vest gradually through 2028, reinforcing long-term incentive alignment between management and shareholders.

Negative

• 843 shares were sold/withheld to cover taxes, a minor dilution of the gross vesting amount.
• Transaction size is immaterial relative to float, offering little insight into broader company fundamentals.

Insights

Securities Analyst

TL;DR: Routine insider vesting; negligible impact on valuation.

The filing reflects scheduled PSU vesting and routine tax withholding, resulting in a small net share addition for the executive. The RSU grant merely formalizes part of Knott’s annual compensation package. With only ~2,600 net shares involved versus SM’s ~126 million share count, dilution and trading impact are immaterial. I classify this as neutral information for equity valuation purposes.

Corporate Governance Expert

TL;DR: Slightly positive for alignment; no governance red flags.

The executive retains the majority of vested shares and accepts multi-year RSU vesting, signalling commitment to long-term performance. No accelerated vesting or unusual dispositions appear. While the stake increase is small, it nudges insider ownership higher and supports incentive alignment, earning a modest positive governance score.

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).

1. Name and Address of Reporting Person^*

Chakravarthy Arthi

(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)
	Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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	07/24/2025		F		2,217(1)	D	$14.43	429,117(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") on July 24, 2025. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

2. Includes 339,760 shares issuable upon the settlement of RSUs granted to the Reporting Person.

Remarks:

	/s/ Arthi Chakravarthy	07/25/2025
	** 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.

FAQ

What insider activity did SM Energy (SM) report on July 24-25 2025?

SVP Kenneth Knott received 3,458 shares from a PSU vesting, disposed of 843 shares for taxes, and was granted 15,361 RSUs.

How many SM Energy shares does Kenneth Knott own after the Form 4 filing?

He directly owns 134,235 common shares and holds 15,361 RSUs.

What is the vesting schedule for the 15,361 RSUs granted to Knott?

Six equal biannual installments beginning 1-Jan-2026; shares deliver upon vesting or retirement.

Did Kenneth Knott sell any SM stock in this filing?

Yes, 843 shares were disposed of at $24.71 solely to cover tax withholding (Code F).

Is the reported insider transaction material to SM Energy’s share count?

No. The net 2,615-share increase is negligible versus the company’s multi-million-share float and should not move the stock.