Navitas (NVTS) CFO logs stock grant and automated tax-cover sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Navitas Semiconductor Corp senior vice president, CFO and treasurer Todd Glickman reported one stock grant and one sale of Class A common shares. He received a grant or award of 32,636 shares at no cost. On the same date, he sold 12,532 shares at a weighted average price of $9.82, in trades executed between $9.76 and $9.82 per share. According to the company’s policy, these sales were “sales to cover” only the minimum shares needed to satisfy tax withholding from the vesting of a compensatory award under a Rule 10b5-1(c) plan, and he does not control the timing or number of shares sold. After these transactions, he directly held 833,383 shares of Navitas Class A common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 12,532 shares ($123,064)
Net Sell
2 txns
Insider
GLICKMAN TODD
Role
Sr. V.P., CFO & Treasurer
Sold
12,532 shs ($123K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 32,636 | $0.00 | -- |
| Sale | Class A Common Stock | 12,532 | $9.82 | $123K |
Holdings After Transaction:
Class A Common Stock — 845,915 shares (Direct)
Footnotes (1)
- Reflects sales made pursuant to the issuer's policy requiring "sales to cover" of the minimum number of shares as are necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award, including restricted stock units, and intending to satisfy the requirements of Rule 10b5-1(c) under the Securities Exchange Act of 1934. The reporting person does not exercise control over the timing of such sales or the number of shares sold. The reported securities were sold in multiple trades at prices ranging from $9.76 to $9.82, inclusive. The price reported above reflects the weighted average sale price. 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 and prices at which the transaction was effected.