Rule 10b5-1 sales by indie Semiconductor (INDI) president Aoki

Rhea-AI Filing Summary

indie Semiconductor president Ichiro Aoki reported an exercise-and-sell transaction. On April 27, 2026, he sold 50,000 shares of Class A common stock in open-market transactions at a weighted average price of $4.0393 per share, under a pre-arranged Rule 10b5-1 trading plan.

The same day, Aoki exercised 50,000 ADK Class A Units, receiving an equal number of Class A shares and triggering cancellation of 50,000 shares of Class V common stock. After these moves, he directly held 156,169 Class A shares and 3,739,362 Class V shares. The 10b5-1 plan provides for automated sales through June 30, 2026.

Insider Trade Summary 10b5-1

Net Seller: 50,000 shares ($201,965)

Net Sell 4 txns

Insider Aoki Ichiro

Role President

Sold 50,000 shs ($202K)

Type	Security	Shares	Price	Value
Exercise	ADK Class A Units	50,000	$0.00	--
Exercise	Class V Common Stock	50,000	$0.00	--
Exercise	Class A Common Stock	50,000	$0.00	--
Sale	Class A Common Stock	50,000	$4.0393	$202K

Holdings After Transaction: ADK Class A Units — 3,739,362 shares (Direct, null); Class V Common Stock — 3,739,362 shares (Direct, null); Class A Common Stock — 156,169 shares (Direct, null)

Footnotes (1)

1. Cancellation of Class V Common Stock upon Reporting Person's exchange of ADK Class A Units for an equal number of shares of Class A Common Stock. See note 2. Class A Common Stock received upon conversion of ADK Class A Units. The ADK Class A Units may be exchanged by the Reporting Person at any time after December 10, 2021 for an equal amount of shares of Class A Common Stock or, at the election of the Issuer, cash equal to the fair market value of such shares. Upon the Reporting Person's exchange of an ADK Class A Unit for Class A Common Stock, an equivalent number of shares of Class V Common Stock will be cancelled. The sales made in this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 8, 2025. The Reporting Person's Rule 10b5-1 plan includes automated open market sales of the Issuer's Class A common stock on predetermined dates through June 30, 2026. The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $4.00 to $4.11, inclusive. The Reporting Person undertakes to provide to 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 price range set forth in this footnote. N/A

Key Figures

Shares sold: 50,000 shares Weighted average sale price: $4.0393 per share Class A shares after transactions: 156,169 shares +5 more

8 metrics

Shares sold 50,000 shares Class A common stock sold on April 27, 2026

Weighted average sale price $4.0393 per share Open-market sales ranged from $4.00 to $4.11

Class A shares after transactions 156,169 shares Direct Class A holdings following April 27, 2026 trades

Class V shares after transactions 3,739,362 shares Direct Class V holdings after 50,000-share cancellation

ADK Units exercised 50,000 units ADK Class A Units converted on April 27, 2026

Underlying Class A from ADK Units 4,939,362 shares Underlying Class A common stock tied to ADK Class A Units

Net buy/sell direction Net sale of 50,000 shares transactionSummary netBuySellShares and direction

10b5-1 plan window Through June 30, 2026 Automated open-market sales under Rule 10b5-1 plan

Key Terms

Rule 10b5-1 trading plan, weighted average price, Class V Common Stock, ADK Class A Units, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The sales made in this Form 4 were made pursuant to a Rule 10b5-1 trading plan..."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Class V Common Stock financial

"Cancellation of Class V Common Stock upon Reporting Person's exchange of ADK Class A Units..."

ADK Class A Units financial

"Class A Common Stock received upon conversion of ADK Class A Units."

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

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).

X

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^*

Aoki Ichiro

(Last) (First) (Middle)

32 JOURNEY

(Street)

ALISO VIEJO CALIFORNIA 92656

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
indie Semiconductor, Inc. [ INDI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Class V Common Stock	04/27/2026		M(1)		50,000	D	$0	3,739,362	D
Class A Common Stock	04/27/2026		M(2)		50,000	A	$0	156,169	D
Class A Common Stock	04/27/2026		S(3)		50,000	D	$4.0393(4)	106,169	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
ADK Class A Units(2)	$0	04/27/2026		M			50,000	12/10/2021	(5)	Class A Common Stock	4,939,362	$0	3,739,362	D

Explanation of Responses:

1. Cancellation of Class V Common Stock upon Reporting Person's exchange of ADK Class A Units for an equal number of shares of Class A Common Stock. See note 2.

2. Class A Common Stock received upon conversion of ADK Class A Units. The ADK Class A Units may be exchanged by the Reporting Person at any time after December 10, 2021 for an equal amount of shares of Class A Common Stock or, at the election of the Issuer, cash equal to the fair market value of such shares. Upon the Reporting Person's exchange of an ADK Class A Unit for Class A Common Stock, an equivalent number of shares of Class V Common Stock will be cancelled.

3. The sales made in this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 8, 2025. The Reporting Person's Rule 10b5-1 plan includes automated open market sales of the Issuer's Class A common stock on predetermined dates through June 30, 2026.

4. The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $4.00 to $4.11, inclusive. The Reporting Person undertakes to provide to 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 price range set forth in this footnote.

5. N/A

	/s/ Ichiro Aoki by Naixi Wu pursuant to power of attorney filed on June 21, 2021	04/29/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did indie Semiconductor (INDI) report for Ichiro Aoki?

indie Semiconductor president Ichiro Aoki reported selling 50,000 Class A shares and exercising 50,000 ADK Class A Units. The exercise delivered new Class A shares and cancelled an equal number of Class V shares, reshaping his equity mix while maintaining a substantial overall position.

How many indie Semiconductor (INDI) shares did Ichiro Aoki sell and at what price?

Ichiro Aoki sold 50,000 shares of indie Semiconductor Class A common stock at a weighted average price of $4.0393. Footnotes state the trades occurred between $4.00 and $4.11 per share in multiple transactions executed in the open market on April 27, 2026.

What is the role of the Rule 10b5-1 plan in this INDI Form 4 filing?

The filing states Aoki’s sales were executed under a Rule 10b5-1 trading plan adopted December 8, 2025. This plan schedules automated open-market sales of indie Semiconductor Class A stock on predetermined dates through June 30, 2026, indicating the timing was pre-planned rather than discretionary.

How did Ichiro Aoki’s holdings in indie Semiconductor (INDI) change after the transactions?

After the reported transactions, Aoki directly held 156,169 shares of Class A common stock and 3,739,362 shares of Class V common stock. The net effect combined an open-market sale and derivative exercises that shifted his mix between economic and voting interests in the company.

What are ADK Class A Units in relation to indie Semiconductor (INDI) stock?

ADK Class A Units are derivative securities that can be exchanged for indie Semiconductor Class A common stock. The filing explains each unit is exchangeable, at the holder’s election after December 10, 2021, into one Class A share or equivalent cash, with corresponding Class V shares cancelled upon exchange.

What happened to indie Semiconductor (INDI) Class V Common Stock in this Form 4?

The Form 4 notes that when Aoki exchanged ADK Class A Units for Class A common stock, an equivalent number of Class V common shares were cancelled. On April 27, 2026, 50,000 Class V shares were cancelled in connection with the exercise of 50,000 ADK Class A Units.