Was the indie Semiconductor (INDI) insider share sale a discretionary sale or tax-related?

The 30,207-share sale by COO Michael Wittmann was tax-related. A footnote states the Class A common stock was sold in the open market to pay withholding taxes arising from the vesting of restricted stock units, indicating a mechanistic transaction rather than a discretionary portfolio move.

indie Semi COO exercises RSUs, sells shares for taxes

indie Semiconductor, Inc. Chief Operating Officer Michael Wittmann reported compensation-related share activity involving Class A common stock.

Filing Impact

(Moderate)

Filing Sentiment

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Form Type

Rhea-AI Filing Summary

indie Semiconductor, Inc. Chief Operating Officer Michael Wittmann reported compensation-related share activity involving Class A common stock. On July 1, 2026, he exercised restricted stock units to acquire a total of 77,500 shares of Class A common stock at a stated price of $0.00 per share. On July 2, 2026, he sold 30,207 shares at an average price of $4.4513 per share, and a footnote explains these shares were sold in the open market to pay withholding taxes tied to the RSU vesting. After these transactions, Wittmann directly owned 145,602 shares of Class A common stock. The filing reflects routine equity compensation vesting and associated tax-related sales rather than a discretionary open-market sell decision.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 5 txns

Insider Wittmann Michael

Role Chief Operating Officer

Sold 30,207 shs ($134K)

Approx. gross sale proceeds $134K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	30,207	$4.4513	$134K
Exercise	Restricted Stock Units	12,500	$0.00	$0.00
Exercise	Restricted Stock Units	65,000	$0.00	$0.00
Exercise	Class A Common Stock	12,500	$0.00	$0.00
Exercise	Class A Common Stock	65,000	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 65,000 contracts (Direct); Class A Common Stock — 145,602 shares (Direct)

Footnotes (4)

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. Each restricted stock unit represents a contingent right to receive one share of Class A common stock.
F3. Such restricted stock units vest at the rate of 25% annually beginning July 1, 2023.
F4. 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.

Key Figures

Tax-related sale: 30,207 shares at $4.4513/share RSU exercises: 77,500 shares Post-transaction holdings: 145,602 shares +2 more

5 metrics

Tax-related sale 30,207 shares at $4.4513/share Class A common stock sold on July 2, 2026 to pay withholding taxes

RSU exercises 77,500 shares Class A common stock acquired via RSU exercises on July 1, 2026

Post-transaction holdings 145,602 shares Direct ownership of Class A common stock after reported transactions

RSU conversion ratio 1 share per RSU Each restricted stock unit represents one share of Class A common stock

RSU vesting schedule 25% annually; 50% in 2026 & 2027 25% annually from July 1, 2023; remaining 50% vests July 1, 2026 and 2027

Key Terms

Restricted Stock Units, withholding taxes, time-based restricted stock units, vest

4 terms

Restricted Stock Units financial

"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."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

withholding taxes financial

"sold in the open market to pay for withholding taxes in connection with the vesting of Restricted Stock Units."

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.

time-based restricted stock units financial

"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."

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.

vest financial

"Such restricted stock units vest at the rate of 25% annually beginning July 1, 2023."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

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

What insider transactions did indie Semiconductor (INDI) report for Michael Wittmann?

The filing shows COO Michael Wittmann exercised restricted stock units to acquire 77,500 Class A common shares and sold 30,207 shares. The sale was specifically to cover withholding taxes related to the RSU vesting, according to the accompanying footnote.

How many indie Semiconductor (INDI) shares does the COO hold after these Form 4 transactions?

Following the reported transactions, COO Michael Wittmann directly holds 145,602 shares of indie Semiconductor Class A common stock. This figure reflects the net result after exercising 77,500 RSU-related shares and selling 30,207 shares to fund tax withholding obligations tied to the vesting.

What restricted stock unit activity did indie Semiconductor (INDI) disclose for its COO?

The filing reports that restricted stock units converted into 77,500 shares of Class A common stock for COO Michael Wittmann. Footnotes explain each RSU represents one share, with units vesting 25% annually from July 1, 2023, and additional time-based vesting scheduled for July 1, 2026 and 2027.

At what price were indie Semiconductor (INDI) shares sold in the COO’s Form 4 filing?

The 30,207 Class A common shares sold by COO Michael Wittmann were transacted at an average price of $4.4513 per share. The sale was conducted in the open market specifically to cover withholding taxes due from the recent vesting of his restricted stock units.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 07/06/2026 - 06:01 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^*

Wittmann Michael

(Last)

(First)

(Middle)

C/O INDIE SEMICONDUCTOR, INC.

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Operating Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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 A Common Stock	07/01/2026		M		12,500	A	$0	110,809	D
Class A Common Stock	07/01/2026		M		65,000	A	$0	175,809	D
Class A Common Stock	07/02/2026		S⁽¹⁾		30,207	D	$4.4513	145,602	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)
Restricted Stock Units	⁽²⁾	07/01/2026		M			12,500	⁽³⁾	⁽³⁾	Class A Common Stock	25,000	$0	0	D
Restricted Stock Units	⁽²⁾	07/01/2026		M			65,000	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	130,000	$0	65,000	D

Explanation of Responses:

1. 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.

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

3. Such restricted stock units vest at the rate of 25% annually beginning July 1, 2023.

4. 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	07/06/2026
	** 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