[Form 4] indie Semiconductor, Inc. Insider Trading Activity

Rhea-AI Filing Summary

indie Semiconductor, Inc. (NASDAQ: INDI) filed a Form 4 reporting that Chief Operating Officer Michael Wittmann was granted 130,000 restricted stock units (RSUs) on 07-10-2025. Each RSU entitles the holder to receive one share of Class A common stock at no cost. The award vests 50 % on July 1 2026 and the remaining 50 % on July 1 2027, provided continued service, and will immediately increase Wittmann’s derivative ownership to 130,000 shares. The grant, made as part of executive compensation, is intended to align management incentives with long-term shareholder value but does not represent an open-market purchase.

Positive

• Equity-based compensation aligns COO incentives with shareholder value over a two-year period.
• Retention mechanism helps ensure management continuity through at least mid-2027.

Negative

• No insider cash purchase; therefore, limited bullish signal for investors.
• Potential dilution of approximately 130,000 shares when RSUs convert.

Insights

Financial Analyst

TL;DR – Routine compensation grant; neutral market impact.

The Form 4 discloses a time-based RSU award rather than a cash purchase, so the signaling value is limited. The two-year vesting schedule helps retain the COO and aligns him with shareholder interests over multiple reporting periods. At today’s share count, 130 k shares represent a negligible dilution vector, and no immediate cash outflow occurs. No trading price or comparative benchmark is provided, so the filing looks like standard executive compensation, carrying minimal short-term valuation impact.

Corporate Governance Expert

TL;DR – Grant supports retention but offers modest governance insight.

Equity grants that vest over two years incentivize executive commitment and performance. Because the shares were issued at zero cost, investors should monitor future dilution and additional grants, yet the amount is minor relative to outstanding shares. The filing confirms the COO’s role and ongoing obligations under Section 16 but does not suggest unusual governance issues or insider optimism beyond standard practice.

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^*

Wittmann Michael

(Last) (First) (Middle)

C/O INDIE SEMICONDUCTOR, INC.

32 JOURNEY

(Street)

ALISO VIEJO CA 92656

(City) (State) (Zip)

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

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)
07/10/2025

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
Restricted Stock Units	(1)	07/10/2025		A		130,000		(2)	(2)	Class A Common Stock	130,000	$0	130,000	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

2. The time-based restricted stock units shall vest and become nonforfeitable with respect to fifty percent (50%) of the total number of restricted stock units on July 1, 2026 and 2027.

	/s/ Michael Wittmann, by Naixi Wu pursuant to power of attorney filed on January 22, 2024	07/14/2025
	** 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.

FAQ

How many shares did INDI's COO receive in the Form 4 filing?

130,000 restricted stock units convertible into an equal number of Class A shares.

When do the INDI RSUs granted to Michael Wittmann vest?

50 % on July 1 2026 and 50 % on July 1 2027.

Did the COO purchase INDI shares on the open market?

No; the filing reflects an equity grant at $0 as part of compensation, not a market purchase.

What is the price per share for the granted RSUs?

The RSUs were issued at $0, typical for equity awards.

How many derivative securities does the COO own after the transaction?

He beneficially owns 130,000 derivative securities (RSUs) after the grant.