indie Semi president trades 100K shares under plan

indie Semiconductor, Inc. president Ichiro Aoki reported an exercise-and-sell transaction involving the company’s common stock and related units.

Rhea-AI Filing Summary

indie Semiconductor, Inc. president Ichiro Aoki reported an exercise-and-sell transaction involving the company’s common stock and related units. He sold 100,000 shares of Class A Common Stock in an open-market transaction at a weighted average price of $4.4024 per share, with individual sale prices ranging from $4.25 to $4.54. These sales were made under a pre-arranged Rule 10b5-1 trading plan that schedules automated sales through June 30, 2026.

On the same date, Aoki exercised 100,000 ADK Class A Units, receiving an equal number of Class A shares and cancelling an equivalent amount of Class V Common Stock as part of the exchange structure. After the transactions, he directly held 106,169 shares of Class A Common Stock and continued to hold a large position in ADK Class A Units that are exchangeable into additional Class A shares or cash at the issuer’s election.

Insights

Equity compensation and insider-trading analyst

Pre-planned sale paired with unit conversion; net effect appears routine.

President Ichiro Aoki sold 100,000 Class A shares at a weighted average of $4.4024, while exercising 100,000 ADK Class A Units into Class A stock and cancelling an equal amount of Class V shares. This is a classic exercise-and-sell pattern.

The filing states these sales occur under a Rule 10b5-1 trading plan adopted on December 8, 2025, with automated trades through June 30, 2026. Such plans are pre-scheduled, so timing carries limited signaling value. Aoki still holds 206,169 Class A shares plus 3,639,362 ADK Class A Units exchangeable into Class A stock or cash, indicating a substantial remaining economic stake.

Insider Trade Summary 10b5-1

Exercise and Sale: 100,000 shares ($440K approx. pre-tax spread)

Exercise and Sale 4 txns

Insider Aoki Ichiro

Role President

Sold 100,000 shs ($440K)

Approx. gross sale proceeds $440K

Approx. exercise cost $0.00

Approx. pre-tax spread $440K

Type	Security	Shares	Price	Value
Exercise	ADK Class A Units	100,000	$0.00	$0.00
Exercise	Class V Common Stock	100,000	$0.00	$0.00
Exercise	Class A Common Stock	100,000	$0.00	$0.00
Sale	Class A Common Stock	100,000	$4.4024	$440K

Holdings After Transaction: ADK Class A Units — 3,639,362 contracts (Direct); Class V Common Stock — 3,639,362 shares (Direct); Class A Common Stock — 106,169 shares (Direct)

Footnotes (5)

1. F1. 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. F2. 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. F3. 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. F4. 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 $4.25 to $4.54, 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. F5. N/A

Key Figures

Shares sold: 100,000 shares Weighted average sale price: $4.4024 per share Sale price range: $4.25–$4.54 per share +4 more

7 metrics

Shares sold 100,000 shares Class A Common Stock sold in open market

Weighted average sale price $4.4024 per share Class A Common Stock sale price

Sale price range $4.25–$4.54 per share Range of individual trade prices

Class A holdings after 206,169 shares Total Class A Common Stock held following transaction

ADK Class A Units after 3,639,362 units ADK Class A Units held, exchangeable into Class A or cash

Underlying Class A shares 4,939,362 shares Underlying Class A Common Stock for ADK Class A Units

10b5-1 plan period through June 30, 2026 Automated open-market sales under trading plan

Key Terms

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

ADK Class A Units financial

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

Class V Common Stock financial

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

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.

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

Ichiro Aoki reported selling 100,000 Class A shares of indie Semiconductor. The Form 4 shows an open-market sale at a weighted average price of $4.4024 per share, alongside exercises of ADK Class A Units that converted into additional Class A stock and cancelled equivalent Class V shares.

At what price did the INDI insider shares sell in this Form 4?

The 100,000 Class A shares were sold at a $4.4024 weighted average. Footnotes explain individual trades occurred in a range from $4.25 to $4.54 per share, and the reporting person can provide detailed breakdowns of the number of shares sold at each separate price if requested.

Was the indie Semiconductor (INDI) insider sale made under a Rule 10b5-1 plan?

Yes, the Form 4 states the sales were made under a Rule 10b5-1 plan. The plan was adopted on December 8, 2025, and includes automated open-market sales of indie Semiconductor’s Class A common stock on predetermined dates through June 30, 2026, reducing timing discretion.

How many INDI Class A shares does Ichiro Aoki hold after this transaction?

After the reported trades, Ichiro Aoki directly holds 206,169 Class A shares. In addition, he continues to own 3,639,362 ADK Class A Units, which may be exchanged for an equal number of Class A shares or, at the issuer’s election, cash equal to their fair market value.

What are ADK Class A Units in the context of indie Semiconductor (INDI)?

ADK Class A Units are derivative securities exchangeable into Class A Common Stock. The Form 4 notes they may be exchanged after December 10, 2021 for an equal number of Class A shares or cash, and each exchange causes cancellation of an equivalent number of Class V Common Stock shares.

What happens to Class V Common Stock when INDI ADK Units are exchanged?

Class V Common Stock is cancelled when ADK Class A Units are exchanged. The filing explains that 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 are cancelled, reducing that separate class while increasing Class A shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/01/2026 - 08:30 PM Learn about SEC filing dates

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)
04/30/2026

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	04/30/2026		M(1)		100,000	D	$0	3,639,362	D
Class A Common Stock	04/30/2026		M(2)		100,000	A	$0	206,169	D
Class A Common Stock	04/30/2026		S(3)		100,000	D	$4.4024(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	04/30/2026		M			100,000	12/10/2021	(5)	Class A Common Stock	4,939,362	$0	3,639,362	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 $4.25 to $4.54, 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	05/01/2026
	** 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)