INDI Director David Aldrich Exercises Derivatives, Receives RSUs

What Happened

• Director David J. Aldrich reported multiple transactions dated May 28, 2026. He exercised/converted 59,932 derivative shares (transaction code M) and the same 59,932 shares were disposed the same day (both reported at $0.00). He also acquired 37,454 restricted stock units (RSUs) (transaction code A) reported at $0.00. All reported dollar amounts for these transactions are $0 on the Form 4.

Key Details

• Transaction dates: May 28, 2026; Form 4 filed May 29, 2026 (filing appears timely).
• Exercised/converted: 59,932 shares (M) — acquired and disposed same day; price reported $0.00.
• Awarded/acquired: 37,454 RSUs (A) — price reported $0.00; each RSU converts to one share (footnote F1).
• Footnotes: RSUs were granted under the issuer’s non-employee director compensation policy (F2) and the RSUs vested on May 28, 2026, the date of the 2026 Annual Meeting (F3).
• Shares owned after the transaction are not stated in the supplied summary of the filing.

Context

• The filing shows conversion/exercise of derivatives and an immediate disposition of the same number of shares; Form 4 entries list $0.00 for the transactions, so no sale proceeds or prices are reported in the filing. The 37,454 RSUs are a director compensation award that vested on the transaction date — this is a routine compensation event for a non-employee director rather than an open-market purchase.