indie Semiconductor (INDI) president sells 729,900 shares under Rule 10b5-1 plan
Rhea-AI Filing Summary
indie Semiconductor President Ichiro Aoki reported a series of exercise-and-sell transactions in late May 2026. He exercised a total of 729,900 ADK Class A Units into Class A Common Stock and related Class V Common Stock adjustments, then sold the same number of Class A shares in open-market trades.
The sales, reported at weighted average prices around $5.05 per share across several price ranges, were executed under a Rule 10b5-1 trading plan adopted on December 8, 2025, which provides for automated sales through June 30, 2026. Following these transactions, Aoki directly holds 106,169 shares of Class A Common Stock and continues to hold several million shares of Class V Common Stock and ADK Class A Units linked to Class A Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 729,900 shares ($3.79M approx. pre-tax spread)
Exercise and Sale
24 txns
Insider
Aoki Ichiro
Role
President
Sold
729,900 shs ($3.79M)
Approx. gross sale proceeds
$3.79M
Approx. exercise cost
$0.00
Approx. pre-tax spread
$3.79M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | ADK Class A Units | 80,200 | $0.00 | $0.00 |
| Exercise | ADK Class A Units | 19,800 | $0.00 | $0.00 |
| Exercise | Class V Common Stock | 80,200 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 80,200 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 80,200 | $5.0503 | $405K |
| Exercise | Class V Common Stock | 19,800 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 19,800 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 19,800 | $5.0499 | $100K |
| Exercise | ADK Class A Units | 200,000 | $0.00 | $0.00 |
| Exercise | ADK Class A Units | 225,000 | $0.00 | $0.00 |
| Exercise | ADK Class A Units | 29,900 | $0.00 | $0.00 |
| Exercise | Class V Common Stock | 200,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 200,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 200,000 | $5.2518 | $1.05M |
| Exercise | Class V Common Stock | 225,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 225,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 225,000 | $5.311 | $1.19M |
| Exercise | Class V Common Stock | 29,900 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 29,900 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 29,900 | $5.2768 | $158K |
| Exercise | ADK Class A Units | 175,000 | $0.00 | $0.00 |
| Exercise | Class V Common Stock | 175,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 175,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 175,000 | $5.0573 | $885K |
Holdings After Transaction:
ADK Class A Units — 2,789,362 shares (Direct);
Class V Common Stock — 2,789,362 shares (Direct);
Class A Common Stock — 106,169 shares (Direct)
Footnotes (11)
- 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.
- 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.
- F3. Represents shares of Class A Common Stock sold in the open market.
- 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 $4.945 to $5.14, 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.
- F5. 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 $5.09 to $5.34, 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.
- F6. 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 $5.235 to $5.435, 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.
- F7. This sale was 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.
- F8. 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 $5.25 to $5.34, 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.
- F9. 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 $4.935 to $5.19, 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.
- F10. 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 $5.03 to $5.07, 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.
- F11. N/A
Key Figures
Shares sold: 729,900 shares
Net buy/sell direction: net-sell of 729,900 shares
Shares exercised: 729,900 units
+4 more
7 metrics
Shares sold
729,900 shares
Total Class A shares sold across May 27–29, 2026
Net buy/sell direction
net-sell of 729,900 shares
Transaction summary for this Form 4
Shares exercised
729,900 units
ADK Class A Units exercised into Class A Common Stock
Class A holding after trades
106,169 shares
Direct Class A Common Stock holding following transactions
Sale price example
$5.0573 per share
Weighted average price for 175,000-share sale on May 27, 2026
Sale price example
$5.3110 per share
Weighted average price for 225,000-share sale on May 28, 2026
10b5-1 plan period
through June 30, 2026
End date for automated sales under Aoki’s 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
"This sale was 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.
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 for an equal number of shares of Class A Common Stock."
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did indie Semiconductor (INDI) President Ichiro Aoki report in this Form 4?
Ichiro Aoki reported exercising 729,900 ADK Class A Units into Class A Common Stock and selling the same 729,900 Class A shares in open-market transactions. These moves form coordinated exercise-and-sell transactions rather than standalone stock purchases or sales.
Were Ichiro Aoki’s indie Semiconductor (INDI) stock sales pre-planned?
Yes. A footnote states the sales were made under a Rule 10b5-1 trading plan Aoki adopted on December 8, 2025. That plan provides for automated open-market sales of Class A common stock on predetermined dates through June 30, 2026, reducing discretion over trade timing.
What are ADK Class A Units and Class V Common Stock in the indie Semiconductor (INDI) filing?
The filing explains that ADK Class A Units may be exchanged for an equal number of Class A Common shares or cash. When Aoki exchanges ADK Class A Units for Class A shares, an equivalent number of Class V Common Stock shares are cancelled, aligning economic exposure and voting structure.
What is the net effect of Ichiro Aoki’s May 2026 transactions in INDI stock?
The Form 4 shows Aoki exercised 729,900 ADK Class A Units and sold 729,900 Class A shares, resulting in a net sale of 729,900 shares. Despite these sales, he continues to hold a substantial Class A, Class V, and ADK unit position in indie Semiconductor.