ENVX insider sells warrants distributed July 21, 2025; zero holdings after sales

Rhea-AI Filing Summary

Betsy S. Atkins, a director of Enovix Corporation (ENVX), reported sales of warrants that had been distributed to her on July 21, 2025. The Form 4 shows sales on August 15 and August 18, 2025 of publicly traded warrants exercisable to purchase common stock at $8.75 per share and expiring October 1, 2026. The reporting shows a weighted-average sale price for the related underlying shares between $1.48 and $1.53, and indicates the warrants were sold in the public market at prevailing prices. After the transactions, the reporting person no longer beneficially owned any of the Warrants previously distributed on July 21, 2025.

Positive

• None.

Negative

• Director disposed of all distributed Warrants, leaving no beneficial ownership following the reported transactions
• Sales executed in the public market could be perceived negatively by some investors as insider liquidity events

Insights

Securities Analyst

TL;DR: Director sold all distributed warrants in public-market transactions, leaving no beneficial ownership.

The Form 4 documents the sale of Warrants distributed at no cost on July 21, 2025, each exercisable at $8.75 and expiring October 1, 2026. Sales occurred August 15 and August 18, 2025; the disclosures show a weighted-average price range for the underlying shares of $1.48 to $1.53. The reporting person ends with zero beneficial ownership of the distributed Warrants. For investors, this is a straightforward insider disposition rather than an acquisition or exercise, and it reduces insider-held warrant exposure but does not in itself change company fundamentals.

Corporate Governance Expert

TL;DR: Insider disposition is notable for governance transparency but appears routine and executed in the open market.

The filing includes clear explanatory footnotes: the Warrants were distributed by the issuer on July 21, 2025, sold in the public market, and the reporting attorney-in-fact signed the Form 4. The Form confirms the warrants’ expiration and automatic-acceleration provisions are governed by the Warrant Agreement. The disclosure meets Section 16 reporting requirements and furnishes committed detail on price ranges upon request, supporting regulatory transparency.

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

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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^*

ATKINS BETSY S

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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

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
Warrant (Right to Buy)	$8.75	08/15/2025		S			10,904(1)	07/21/2025	10/01/2026(2)	Common Stock, par value $0.0001	10,904	$1.5103(3)	3,309	D
Warrant (Right to Buy)	$8.75	08/18/2025		S			3,309(1)	07/21/2025	10/01/2026(2)	Common Stock, par value $0.0001	3,309	$1.6017(4)	0	D

Explanation of Responses:

1. This Form 4 relates to sales of publicly-traded warrants (the "Warrants") previously distributed to the Reporting Person. The Warrants were distributed by the Issuer on July 21, 2025 at no cost to the Reporting Person, and each Warrant entitles the holder to purchase one share of common stock at an exercise price of $8.75 per share in accordance with the Warrant Agreement dated July 21, 2025 between the Issuer and Computershare Trust Company N.A., as warrant agent (the "Warrant Agreement").

2. The Warrants will expire and cease to be exercisable at 5:00 p.m. New York City time on October 1, 2026 (the Expiration Date). The Expiration Date is subject to automatic acceleration upon satisfaction of the early expiration price condition (as defined in the Warrant Agreement) and subject to the other terms of the Warrant Agreement.

3. The price reported in Column 8 is a weighted-average price. The shares were sold in multiple transactions ranging from $1.48 to $1.53, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The Warrants were sold in the public market and at the prevailing market price.

Remarks:

	/s/ Arthi Chakravarthy, Attorney-in-Fact for Betsy S. Atkins	08/22/2025
	** 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).
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FAQ

What did Betsy S. Atkins report in the Form 4 for Enovix (ENVX)?

The Form 4 reports the sale of warrants distributed to her on July 21, 2025; after sales on August 15 and August 18, 2025 she holds no beneficial ownership of those Warrants.

What were the terms of the Warrants sold by the director?

Each Warrant entitles the holder to buy one share of common stock at an $8.75 exercise price, and the Warrants expire on October 1, 2026 (subject to acceleration provisions).

At what prices were the related shares sold?

The filing reports a weighted-average price for the underlying shares with a sale range of $1.48 to $1.53; the Reporting Person can provide exact per-transaction prices on request.

Were the Warrants sold on the open market or via a private transaction?

The explanatory notes state the Warrants were sold in the public market at prevailing market price.

Who signed the Form 4 filing for Betsy S. Atkins?

The Form 4 was signed by Arthi Chakravarthy, Attorney-in-Fact for Betsy S. Atkins on August 22, 2025.