indie Semiconductor COO sells 40,625 shares at $3.59
INDI’s COO exercised 37,500 RSUs and sold 40,625 shares under a pre-arranged Rule 10b5-1 trading plan, partly to cover tax withholding.
Rhea-AI Filing Summary
indie Semiconductor, Inc. (INDI) reported that Chief Operating Officer Michael Wittmann exercised and vested equity and sold shares in early September 2026. On September 1, he converted 37,500 Restricted Stock Units into 37,500 shares of Class A Common Stock at a price of $0 per share, leaving 75,000 RSUs outstanding. On September 2, he sold a total of 40,625 shares of Class A Common Stock at a weighted average price of $3.5863 per share, with some shares sold in the open market to pay withholding taxes related to the RSU vesting. The sales were made pursuant to a Rule 10b5-1 trading plan adopted on March 15, 2024 and modified on May 26, 2025, which provides for automated open-market sales through March 31, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
4 txns
Insider
Wittmann Michael
Role
Chief Operating Officer
Sold
40,625 shs ($146K)
Approx. gross sale proceeds
$146K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F1, F2, F3 | 22,181 | $3.5863 | $80K |
| Sale | Class A Common Stock F2, F3 | 18,444 | $3.5863 | $66K |
| Exercise | Restricted Stock Units F4, F5 | 37,500 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 37,500 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 75,000 contracts (Direct);
Class A Common Stock — 115,922 shares (Direct)
Footnotes (5)
- F1. Represents shares of Class A Common Stock sold in the open market to pay for withholding taxes in connection with the vesting of Restricted Stock Units.
- F2. The sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 15, 2024, and modified on May 26, 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 March 31, 2027.
- F3. 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 $3.485 to $3.65, 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.
- F4. Each Restricted Stock Unit represents a contingent right to receive one share of Class A Common Stock.
- F5. The time-based Restricted Stock Units shall vest and become nonforfeitable over two years in quarterly equal installments starting on June 1, 2025 through March 1, 2027.
Key Figures
Shares sold (first tranche): 22,181 shares
Shares sold (second tranche): 18,444 shares
Total shares sold: 40,625 shares
+5 more
8 metrics
Shares sold (first tranche)
22,181 shares
Class A Common Stock sold on September 2, 2026
Shares sold (second tranche)
18,444 shares
Class A Common Stock sold on September 2, 2026
Total shares sold
40,625 shares
Aggregate Class A Common Stock sales on September 2, 2026
Weighted average sale price
$3.5863 per share
Sales of Class A Common Stock on September 2, 2026
Sale price range
$3.485–$3.65 per share
Price range for the September 2, 2026 share sales
RSUs converted to shares
37,500 RSUs / 37,500 shares
RSUs converted into Class A Common Stock on September 1, 2026 at $0 per share
RSUs outstanding after transaction
75,000 RSUs
Time-based Restricted Stock Units remaining after September 1, 2026 event
10b5-1 plan end date
March 31, 2027
End of period for automated open-market sales under the trading plan
Key Terms
Rule 10b5-1 trading plan, Restricted Stock Unit, withholding taxes, weighted average price, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales were made pursuant to a Rule 10b5-1 trading plan adopted"
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.
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
withholding taxes financial
"sold in the open market to pay for withholding taxes in connection"
Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.
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.
time-based Restricted Stock Units financial
"The time-based Restricted Stock Units shall vest and become"
Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.
FAQ
What insider transactions did INDI’s COO report on this Form 4?
Michael Wittmann reported exercising 37,500 Restricted Stock Units into 37,500 Class A shares on September 1, 2026, and selling a total of 40,625 Class A shares on September 2, 2026, at a weighted average price of $3.5863 per share.
Were the INDI insider sales made under a Rule 10b5-1 trading plan?
Yes. The filing states the sales were made under a Rule 10b5-1 trading plan adopted on March 15, 2024 and modified on May 26, 2025, providing for automated open-market sales of Class A Common Stock through March 31, 2027.
What RSU position does the INDI COO report after the September 1, 2026 transaction?
After the September 1, 2026 RSU conversion event, the COO reports holding 75,000 Restricted Stock Units, each representing a contingent right to receive one share of Class A Common Stock, vesting in quarterly installments through March 1, 2027.
What is the vesting schedule for the INDI COO’s time-based RSUs?
Time-based RSUs vest and become nonforfeitable over two years in quarterly equal installments, starting on June 1, 2025 and continuing through March 1, 2027, according to the filing’s footnote.
AI-generated analysis. How Rhea-AI works. Not financial advice.
