HENDRIX RICHARD J 4

What Happened
Richard J. Hendrix, a director of Navitas Semiconductor (NVTS) and managing member of Live Oak Sponsor Partners II, LLC, reported multiple open‑market sales of Navitas common stock and a separate transfer of earnout shares. Hendrix sold a total of 143,814 shares in three open‑market transactions on May 27–28, 2026: 33,649 shares at a weighted average $29.66 ($998,029), 35,165 shares at a weighted average $28.14 ($989,543), and 75,000 shares at a weighted average $29.34 ($2,200,500), for aggregate proceeds of about $4.19 million. Separately, on May 18, 2026 the company reported a transfer of 1,147,225 shares to Live Oak Sponsor under a Settlement, Release and Amendment Agreement related to earnout/share‑vesting arrangements.

Key Details

• Transaction types: S = open‑market sales (143,814 shares total); J = other acquisition/disposition (transfer of 1,147,225 shares to Live Oak Sponsor).
• Sale dates & weighted avg prices/ranges:
  • May 27, 2026 — 33,649 shares at weighted avg $29.66 (individual trades ranged $29.63–$29.72).
  • May 28, 2026 — 35,165 shares at weighted avg $28.14 (trades ranged $28.10–$28.18).
  • May 28, 2026 — 75,000 shares at weighted avg $29.34 (trades ranged $29.25–$29.535).
• Aggregate proceeds from the three sales: ≈ $4,188,072.
• May 18, 2026 transfer: 1,147,225 shares moved to Live Oak Sponsor to satisfy obligations under the Sponsor Letter Agreement re: earnout shares (Settlement, Release & Amendment Agreement).
• Hendrix is a managing member of Live Oak Sponsor and disclaims beneficial ownership of the transferred shares except for any pecuniary interest.
• Post‑transaction holdings are not specified in the provided excerpt — see the full Form 4 for updated beneficial ownership.
• Filing: Form 4 was filed May 29, 2026 for transactions from May 18–28; no late‑filing flag was indicated in the filing.

Context: The large May 18 transfer reflects contractual adjustments of earnout/vesting shares between the company and its sponsor, not an open‑market purchase. The May 27–28 sales are open‑market disposals; sales are common for liquidity or portfolio reasons and do not by themselves indicate management’s view of company prospects. Footnotes note weighted‑average reporting and offer to provide per‑trade price details on request.