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Enovix Form 4: COO Marathe Withholds 7,338 Shares to Cover RSU Taxes

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Ajay Marathe, Chief Operating Officer of Enovix Corporation, reported a routine equity withholding transaction on 08/14/2025. The filing shows 7,338 shares of common stock were disposed of at a price of $10.50 to satisfy tax withholding in connection with the vesting of restricted stock units (RSUs). After the withholding, the reporting person beneficially owns 1,157,015 shares, which includes 810,783 shares issuable upon settlement of RSUs. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

  • Continued significant ownership: Reporting person retains 1,157,015 shares after the withholding
  • RSU alignment: 810,783 shares remain issuable upon RSU settlement, indicating ongoing equity-based compensation alignment with company performance

Negative

  • Shares withheld: 7,338 shares were disposed of to satisfy tax withholding obligations
  • Minor dilution effect: The withholding reduces the number of issued shares distributed to the insider upon vesting

Insights

TL;DR: Routine tax-withholding sale tied to RSU vesting; ownership remains large and transaction is non-dispositive for corporate control.

The Form 4 documents a common, non-market-driven disposition: 7,338 shares were withheld at $10.50 to satisfy tax obligations when RSUs vested. Such withholdings are administrative and do not reflect an open-market sale or change in strategic ownership. The reporting person's post-transaction beneficial ownership of 1,157,015 shares, including 810,783 RSU-settled shares, indicates continued alignment with equity compensation rather than liquidity-driven divestment. Impact on share supply is immaterial.

TL;DR: Routine insider reporting; transaction follows standard tax-withholding practice for RSU vesting and raises no governance concerns.

The filing identifies Ajay Marathe as the reporting person and Chief Operating Officer. The 7,338-share withholding is explicitly described as satisfying tax withholding for RSU vesting. The Form 4 was executed by an attorney-in-fact, which is permissible and disclosed. There are no indications of atypical timing, related-party issues, or coordinated sales. This disclosure meets Section 16 reporting requirements and appears procedural.

Insider Marathe Ajay
Role Chief Operating Officer
Type Security Shares Price Value
Tax Withholding Common Stock 7,338 $10.50 $77K
Holdings After Transaction: Common Stock — 1,157,015 shares (Direct)
Footnotes (1)
  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 August 14, 2025. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Includes 810,783 shares issuable upon the settlement of RSUs granted to the Reporting Person.
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*
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)
Chief Operating Officer
3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025
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 08/14/2025 F 7,338(1) D $10.5 1,157,015(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 August 14, 2025. Each RSU represents a contingent right to receive one share of the Issuer's common stock.
2. Includes 810,783 shares issuable upon the settlement of RSUs granted to the Reporting Person.
Remarks:
/s/ Arthi Chakravarthy, Attorney-in-Fact for Ajay Marathe 08/14/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What transaction did Ajay Marathe report for Enovix (ENVX)?

The Form 4 reports that 7,338 shares of common stock were withheld at $10.50 on 08/14/2025 to satisfy tax withholding related to RSU vesting.

How many shares does the reporting person beneficially own after the transaction?

After the reported withholding, Ajay Marathe beneficially owns 1,157,015 shares.

What is the reporting person's role at Enovix?

The filing identifies the reporting person as Chief Operating Officer of Enovix Corporation.

Who signed the Form 4 filing?

The Form 4 was signed by Arthi Chakravarthy, Attorney-in-Fact for Ajay Marathe, dated 08/14/2025.