Indie Semiconductor insider files Form 144 to sell 200K shares

Rhea-AI Filing Summary

Form 144 filed for INDI common stock shows a proposed sale of 200,000 shares through Morgan Stanley Smith Barney, valued at $776,000, with an approximate sale date of 09/15/2025. The shares were acquired as founders shares on 05/01/2009. The filing reports recent dispositions by the same person: a 10b5-1 sale of 150,000 shares on 09/12/2025 for $580,830 and a sale of 41,986 shares on 09/08/2025 for $177,180.92. The company outstanding share count is listed as 198,552,068. The notice includes the required representation that the seller is not aware of any undisclosed material adverse information.

Positive

• Required disclosure provided: The filing supplies the broker, share amount, acquisition date, and sale dates, meeting Rule 144 notice requirements.
• Use of broker and 10b5-1 sale indicated: One recent sale is specifically labeled as a 10b5-1 sale, suggesting at least one transaction followed a prearranged trading plan.

Negative

• Insider share sales: Proposed sale of 200,000 shares and recent sales of 191,986 shares were reported, representing insider dispositions of company stock.
• Limited contextual information: The filing does not state the adoption date of any 10b5-1 plan or provide reasons for the sales beyond required confirmations.

Insights

Securities Analyst

TL;DR: Insider proposes to sell 200,000 INDI shares (≈$776k) after recent 10b5-1 and other sales; filing is routine disclosure.

The filing documents a proposed sale of 200,000 common shares through Morgan Stanley Smith Barney at an aggregate market value of $776,000, with an approximate sale date of 09/15/2025. The shares were acquired as founders shares on 05/01/2009. Recent transactions include a 10b5-1 sale of 150,000 shares on 09/12/2025 for $580,830 and a sale of 41,986 shares on 09/08/2025 for $177,180.92. The outstanding share count is 198,552,068, which implies the planned sale represents approximately 0.10% of outstanding shares. The notice contains the standard representation about lack of undisclosed material adverse information.

Corporate Governance Expert

TL;DR: Disclosure aligns with Rule 144 requirements; presence of 10b5-1 sale noted but no additional context provided.

The form identifies the broker, quantity, and acquisition details required under Rule 144. It also lists recent sales, including a transaction labeled as a 10b5-1 sale, which indicates at least one sale occurred under a prearranged trading plan. The filing contains the standard seller representation regarding material information. The document does not include any statements about plan adoption dates or other contextual details beyond the required transaction specifics.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	200000	776000.00	198552068	09/15/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/01/2009	Founders Shares	Issuer			200000	05/01/2009	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for DONALD KENNETH MCCLYMONT 32 JOURNEY Aliso Viejo CA 92656	Common	09/12/2025	150000	580830.00
DONALD KENNETH MCCLYMONT 32 JOURNEY Aliso Viejo CA 92656	Common	09/08/2025	41986	177180.92

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for INDI disclose about the proposed sale?

The form discloses a proposed sale of 200,000 common shares through Morgan Stanley Smith Barney with an aggregate market value of $776,000 and an approximate sale date of 09/15/2025.

Who acquired the shares and when were they acquired?

The 200,000 shares were acquired as founders shares from the issuer on 05/01/2009.

Were there recent insider sales reported in the filing for INDI?

Yes. A 10b5-1 sale of 150,000 shares on 09/12/2025 for $580,830 and a sale of 41,986 shares on 09/08/2025 for $177,180.92 are listed.

What is the company's outstanding share count reported on the form?

The filing lists 198,552,068 shares outstanding.

Does the filing state whether the seller knows of undisclosed material information?

Yes. By signing, the person represents they do not know any material adverse information not publicly disclosed.