Wunderlich Gary Kent JR 4

What Happened

• Gary Kent Wunderlich Jr., a director and managing member of Live Oak Sponsor Partners II, LLC, reported two open‑market sales totaling 108,165 Navitas Semiconductor (NVTS) shares on May 28, 2026, for combined proceeds of about $3,041,573. The sales were: 35,165 shares at a weighted average price of $28.14 (range $28.10–$28.18) and 73,000 shares at a weighted average price of $28.11 (range $28.10–$28.17). In a separate transaction on May 18, 2026, 1,147,225 shares were transferred to Live Oak Sponsor under a Settlement, Release and Amendment Agreement related to the Sponsor Letter Agreement and earnout-share arrangements.

Key Details

• Filing date: May 29, 2026 (reporting period includes transactions on May 18 and May 28, 2026)
• Sales (open market): 35,165 shares @ weighted avg $28.14 (range $28.10–$28.18) = $989,543; 73,000 shares @ weighted avg $28.11 (range $28.10–$28.17) = $2,052,030. Total proceeds ≈ $3,041,573.
• Other acquisition/transfer (code J): 1,147,225 shares transferred to Live Oak Sponsor per settlement agreement dated May 18, 2026.
• Footnote on ownership: Wunderlich is a managing member of Live Oak Sponsor and disclaims beneficial ownership of the transferred shares except for any pecuniary interest.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Timeliness: The May 18 transfer was reported on May 29 (more than 2 business days after the transaction), so that transfer appears to have been reported late; the May 28 sales were reported the next day.

Context

• These are primarily routine insider sales and a contractual transfer to the sponsor related to earnout/vesting settlement terms; the filing disclaims beneficial ownership by Wunderlich for the transferred shares (he reports only a pecuniary interest). Sales generally show liquidity by the insider but do not by themselves indicate company performance; purchases are often more informative about insider sentiment.