indie Semiconductor (INDI) president trades shares under Rule 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

indie Semiconductor, Inc. president and director Ichiro Aoki reported an exercise-and-sell transaction involving the company’s equity. On April 21, 2026, he sold 6,500 shares of Class A Common Stock in open-market trades at a weighted average price of $3.5026 per share, with individual prices ranging from $3.50 to $3.51, under a pre-arranged Rule 10b5-1 trading plan.

The filing also shows he exercised 6,500 ADK Class A Units, receiving an equal number of Class A Common shares at a stated conversion price of $0.00, and an equivalent number of Class V Common shares were cancelled in connection with this exchange. After these transactions, Aoki directly holds 106,169 shares of Class A Common Stock and 3,882,862 ADK Class A Units, which may be exchanged any time after December 10, 2021 for an equal number of Class A shares or, at the issuer’s election, cash equal to their fair market value.

Insider Trade Summary 10b5-1

Net Seller: 6,500 shares ($22,767)

Net Sell 4 txns

Insider Aoki Ichiro

Role President

Sold 6,500 shs ($23K)

Type	Security	Shares	Price	Value
Exercise	ADK Class A Units	6,500	$0.00	--
Exercise	Class V Common Stock	6,500	$0.00	--
Exercise	Class A Common Stock	6,500	$0.00	--
Sale	Class A Common Stock	6,500	$3.5026	$23K

Holdings After Transaction: ADK Class A Units — 3,882,862 shares (Direct, null); Class V Common Stock — 3,882,862 shares (Direct, null); Class A Common Stock — 112,669 shares (Direct, null)

Footnotes (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 $3.50 to $3.51, 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: 6,500 shares Weighted average sale price: $3.5026 per share ADK units exchanged: 6,500 units +5 more

8 metrics

Shares sold 6,500 shares Class A Common Stock open-market sale on April 21, 2026

Weighted average sale price $3.5026 per share Class A sales, with trades from $3.50 to $3.51

ADK units exchanged 6,500 units ADK Class A Units converted into Class A Common Stock

Conversion price $0.00 per unit Stated for ADK Class A Units to Class A Common Stock

Class A shares held after 106,169 shares Direct Class A Common Stock holdings post-transaction

ADK Class A Units held after 3,882,862 units Direct ADK Class A Unit holdings post-transaction

Exchange eligibility date December 10, 2021 Earliest date ADK Class A Units may be exchanged

10b5-1 plan end date June 30, 2026 Automated open-market sales scheduled through this date

Key Terms

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

5 terms

Rule 10b5-1 trading plan financial

"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."

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.

Class V Common Stock financial

"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."

ADK Class A Units financial

"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..."

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.

fair market value financial

"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."

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

Form 4 Insider Transactions: What Each Field Means →

04/23/2026 - 08:30 PM

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).

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)
04/21/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class V Common Stock	04/21/2026		M⁽¹⁾		6,500	D	$0	3,882,862	D
Class A Common Stock	04/21/2026		M⁽²⁾		6,500	A	$0	112,669	D
Class A Common Stock	04/21/2026		S⁽³⁾		6,500	D	$3.5026⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
ADK Class A Units⁽²⁾	$0	04/21/2026		M			6,500	12/10/2021	⁽⁵⁾	Class A Common Stock	4,939,362	$0	3,882,862	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 $3.50 to $3.51, 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	04/23/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did INDI’s president Ichiro Aoki report on this Form 4?

Ichiro Aoki reported selling 6,500 shares of indie Semiconductor Class A Common Stock and exercising 6,500 ADK Class A Units into Class A shares, with associated cancellation of Class V Common Stock, all recorded as of April 21, 2026.

At what price did Ichiro Aoki sell indie Semiconductor (INDI) shares?

Aoki’s 6,500 Class A shares were sold at a weighted average price of $3.5026 per share. The individual trades occurred in a narrow price range between $3.50 and $3.51 per share, as disclosed in the Form 4 footnotes.

How many indie Semiconductor (INDI) shares does Ichiro Aoki hold after this Form 4?

Following the reported transactions, Aoki directly holds 106,169 shares of indie Semiconductor Class A Common Stock. He also holds 3,882,862 ADK Class A Units, which are exchangeable into an equal number of Class A shares or cash at the issuer’s election.

Was the INDI insider sale by Ichiro Aoki part of a Rule 10b5-1 plan?

Yes. The Form 4 states that the sales were made under a Rule 10b5-1 trading plan adopted on December 8, 2025. The plan provides for automated open-market sales on predetermined dates through June 30, 2026, indicating pre-scheduled transactions.

What are ADK Class A Units referenced in the indie Semiconductor (INDI) Form 4?

ADK Class A Units are derivative interests that Aoki may exchange, any time after December 10, 2021, for an equal number of Class A Common shares or cash equal to their fair market value. Exchanging units triggers cancellation of an equivalent number of Class V Common shares.

How did the exchange affect Ichiro Aoki’s Class V Common Stock at INDI?

The filing explains that when Aoki exchanges ADK Class A Units for Class A Common Stock, an equivalent number of Class V Common shares are cancelled. For the 6,500-unit exchange reported, 6,500 shares of Class V Common Stock were cancelled accordingly.