InterDigital (IDCC) CLO Joshua D. Schmidt Sells Shares, Receives RSU Vesting

What Happened
Joshua D. Schmidt, Chief Legal Officer and Corporate Secretary of InterDigital (IDCC), had performance-based restricted stock units vest on March 15, 2026 (14,286.309 shares total: 13,718 performance RSUs at 200% payout plus 568.3085 dividend equivalents). To cover tax liabilities and related amounts roughly 9,417.775 shares were withheld (and a small fractional share was cash-settled). On March 17, 2026 he sold 6,000 shares in multiple open-market transactions for total proceeds of approximately $2,089,260 (weighted avg ≈ $348.21/share). The withholding and cash-settlements reported total roughly $3,412,531.

Key Details

• Transaction dates: RSU vesting and related withholdings on 2026-03-15; open-market sales on 2026-03-17. Form 4 filed 2026-03-17.
• Award: 14,286.309 shares acquired (code A) from 2023 performance RSU cycle (200% achievement).
• Withholding/tax settlement: ~9,417.775 shares withheld / cash-settled (codes F and D) representing about $3.41M.
• Open-market sales: 6,000 shares sold for ~$2,089,260 total (weighted avg ≈ $348.21/share). Sales executed pursuant to a Rule 10b5-1 trading plan (footnote F6).
• Footnotes show aggregated price ranges for the multiple sale lots; weighted-average prices reported for each grouped sale.
• Shares owned after the transactions are not provided in the supplied data.

Context

• The primary event was RSU vesting (an award), not an option exercise purchase. Tax withholding and fractional-share cash settlements are routine following vesting.
• The March 17 sales were executed under a pre-established Rule 10b5-1 plan — a common mechanism for insiders to sell shares on a set schedule.
• These transactions are primarily routine compensation vesting and tax-related withholding plus planned open-market sales; they do not alone indicate the insider’s private view of the company’s prospects.