indie Semiconductor (INDI) president exercises and sells 150K shares

Rhea-AI Filing Summary

indie Semiconductor, Inc. president and director Ichiro Aoki reported a series of option-like conversions and share sales in March 2026. Over March 18–20, he exercised rights tied to 150,000 ADK Class A Units, receiving an equal number of shares of Class A Common Stock while an equivalent number of Class V Common Stock was cancelled.

On each of those dates, Aoki then sold 50,000 shares of Class A Common Stock in open-market transactions at weighted average prices of $2.5975, $2.5719 and $2.5931 per share, respectively, for total sales of 150,000 shares. These sales were made under a pre-arranged Rule 10b5-1 trading plan. Following the transactions, Aoki directly holds 100,952 shares of Class A Common Stock.

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)
03/18/2026

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	03/18/2026		M(1)		50,000	D	$0	4,289,362	D
Class A Common Stock	03/18/2026		M(2)		50,000	A	$0	150,952	D
Class A Common Stock	03/18/2026		S(3)		50,000	D	$2.5975(4)	100,952	D
Class V Common Stock	03/19/2026		M(1)		50,000	D	$0	4,239,362	D
Class A Common Stock	03/19/2026		M(2)		50,000	A	$0	150,952	D
Class A Common Stock	03/19/2026		S(3)		50,000	D	$2.5719(5)	100,952	D
Class V Common Stock	03/20/2026		M(1)		50,000	D	$0	4,189,362	D
Class A Common Stock	03/20/2026		M(2)		50,000	A	$0	150,952	D
Class A Common Stock	03/20/2026		S(3)		50,000	D	$2.5931(6)	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	03/18/2026		M			50,000	12/10/2021	(7)	Class A Common Stock	4,939,362	$0	4,289,362	D
ADK Class A Units(2)	$0	03/19/2026		M			50,000	12/10/2021	(7)	Class A Common Stock	4,939,362	$0	4,239,362	D
ADK Class A Units(2)	$0	03/20/2026		M			50,000	12/10/2021	(7)	Class A Common Stock	4,939,362	$0	4,189,362	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 $2.55 to $2.63, 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 $2.50 to $2.65, 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. 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 $2.49 to $2.68, 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.

7. N/A

	/s/ Ichiro Aoki by Naixi Wu pursuant to power of attorney filed on June 21, 2021	03/20/2026
	** 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 indie Semiconductor (INDI) report for Ichiro Aoki?

Ichiro Aoki reported exercising rights linked to 150,000 ADK Class A Units into Class A Common Stock, cancelling an equivalent number of Class V shares, then selling 150,000 Class A shares in open-market trades over three days in March 2026.

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

Aoki sold 150,000 shares of indie Semiconductor Class A Common Stock, in three blocks of 50,000 shares, at weighted average prices of $2.5975, $2.5719 and $2.5931 per share, with actual trade prices ranging roughly from $2.49 to $2.68.

Were Ichiro Aoki’s indie Semiconductor (INDI) share sales under a 10b5-1 plan?

Yes. The filing states the sales were executed under a Rule 10b5-1 trading plan adopted on December 8, 2025, providing for automated open-market sales on predetermined dates through June 30, 2026, indicating the transactions were pre-scheduled rather than opportunistic.

How many indie Semiconductor (INDI) Class A shares does Ichiro Aoki hold after these trades?

After completing the conversion and sale transactions, Aoki directly holds 100,952 shares of indie Semiconductor Class A Common Stock. This figure reflects his remaining direct ownership following the reported 150,000-share open-market sales in March 2026.

What happened to Ichiro Aoki’s Class V Common Stock in the indie Semiconductor (INDI) filing?

For each ADK Class A Unit exchanged, Aoki received one share of Class A Common Stock and an equivalent number of Class V Common Stock shares were cancelled. This reflects the paired structure, where exchanging units into Class A stock eliminates corresponding Class V shares.

What do the ADK Class A Unit exercises mean for indie Semiconductor (INDI)?

The exercises converted ADK Class A Units into Class A Common Stock at a stated conversion price of $0.0000 per unit. Each exchange delivered one Class A share to Aoki and cancelled one Class V share, shifting his holdings toward the publicly traded Class A equity.