President of indie Semiconductor (NASDAQ: INDI) sells 100K shares in plan

Rhea-AI Filing Summary

indie Semiconductor, Inc. President Ichiro Aoki reported option-style exercises and related share sales. On March 23 and 24, 2026, he exercised a total of 100,000 ADK Class A Units, receiving the same number of Class A Common Stock shares and triggering cancellation of an equivalent amount of Class V Common Stock.

He then sold 100,000 Class A Common Stock shares in open-market transactions: 50,000 shares at a weighted average price of $2.6052 and 50,000 shares at a weighted average price of $2.8311, with execution ranges of $2.53–$2.66 and $2.58–$2.945, respectively. These sales were made under a Rule 10b5-1 trading plan adopted on December 8, 2025, which provides for automated open-market sales through June 30, 2026.

Following the reported transactions, Aoki directly held 100,952 shares of Class A Common Stock and 4,089,362 ADK Class A Units as reflected in the filing.

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).

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)
03/23/2026

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	03/23/2026		M(1)		50,000	D	$0	4,139,362	D
Class A Common Stock	03/23/2026		M(2)		50,000	A	$0	150,952	D
Class A Common Stock	03/23/2026		S(3)		50,000	D	$2.6052(4)	100,952	D
Class V Common Stock	03/24/2026		M(1)		50,000	D	$0	4,089,362	D
Class A Common Stock	03/24/2026		M(2)		50,000	A	$0	150,952	D
Class A Common Stock	03/24/2026		S(3)		50,000	D	$2.8311(5)	100,952	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	03/23/2026		M			50,000	12/10/2021	(6)	Class A Common Stock	4,939,362	$0	4,139,362	D
ADK Class A Units(2)	$0	03/24/2026		M			50,000	12/10/2021	(6)	Class A Common Stock	4,939,362	$0	4,089,362	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 $2.53 to $2.66, 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. 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 $2.58 to $2.945, 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.

6. N/A

	/s/ Ichiro Aoki by Naixi Wu pursuant to power of attorney filed on June 21, 2021	03/25/2026
	** 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 transactions did INDI president Ichiro Aoki report on this Form 4?

Ichiro Aoki reported exercising 100,000 ADK Class A Units into 100,000 shares of Class A Common Stock and then selling 100,000 Class A shares in open-market trades on March 23 and 24, 2026 under a Rule 10b5-1 plan.

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

Aoki sold 100,000 shares of indie Semiconductor Class A Common Stock. He sold 50,000 shares at a weighted average of $2.6052 and 50,000 shares at a weighted average of $2.8311, within disclosed intraday ranges between $2.53 and $2.945.

How many indie Semiconductor (INDI) shares does Ichiro Aoki hold after these transactions?

After the reported transactions, Ichiro Aoki directly holds 100,952 shares of indie Semiconductor Class A Common Stock. He also holds 4,089,362 ADK Class A Units, which are exchangeable into an equal number of Class A Common Stock shares or cash at the issuer’s election.

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

ADK Class A Units are securities that Aoki may exchange, after December 10, 2021, for an equal number of Class A Common Stock shares or issuer-elected cash. When an ADK Class A Unit is exchanged for Class A stock, an equivalent share of Class V Common Stock is cancelled.

Were Ichiro Aoki’s INDI share sales part of a pre-planned Rule 10b5-1 program?

Yes. The filing states Aoki’s sales were made under a Rule 10b5-1 trading plan adopted on December 8, 2025. That plan provides for automated open-market sales of indie Semiconductor Class A Common Stock on predetermined dates through June 30, 2026.

What does the net effect of Ichiro Aoki’s INDI transactions look like on this Form 4?

The Form 4 shows 100,000 ADK Class A Units exercised into 100,000 Class A Common shares, offset by open-market sales of 100,000 Class A shares. Overall, it reflects a net-sell position in common stock while maintaining a substantial ADK Class A Unit holding.