InterDigital (IDCC) CEO Lawrence Chen Receives Awards, Withholds Shares for Taxes

What Happened

• Lawrence Liren Chen, President & CEO and Director of InterDigital, had performance-based awards vest on Sept 15, 2026. He received 48,069.854 restricted stock units (RSUs) and 137,400 shares from vested performance-based stock options (derivative award). To satisfy tax withholding, 20,896 shares were withheld/sold at $340.38 per share for $7,112,580, and 4.854 fractional shares were cash-settled for $1,652.

Key Details

• Transaction date: 2026-09-15; Form 4 filed 2026-09-17 (timely).
• Awards and amounts:
  • 48,069.854 RSUs acquired @ $0.00 (vested RSUs, includes dividend equivalents).
  • 137,400 derivative shares acquired @ $0.00 (vesting of performance-based stock options).
• Withholding/settlement:
  • 20,896 shares disposed @ $340.38 to satisfy tax withholding = $7,112,580 (tax withholding, not an open-market investment sale).
  • 4.854 shares disposed @ $340.38 = $1,652 (cash settlement of fractional shares).
• Footnotes summary:
  • Vesting reflects achievement of performance milestones (200% of target for both RSUs and options).
  • Withholding of 20,896 RSUs satisfied his tax liability; fractional shares were cash-settled.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context

• These transactions are compensation-related (vesting of performance awards), not purchases or voluntary open-market sales. The withholding of shares to cover taxes is a routine administrative action and does not necessarily indicate trading intent.
• The filing appears timely (filed within two business days of the transaction).