Aoki Ichiro 4

What Happened

• Aoki Ichiro, President and Director of indie Semiconductor (INDI), executed conversions of ADK Class A Units into Class A common stock and sold a total of 200,000 shares in open-market transactions between March 25–27, 2026. The three sales generated combined gross proceeds of about $643,185 (50,000 shares on 3/25, 100,000 on 3/26, 50,000 on 3/27).
• The conversions/exercises were reported at $0.00 per share (reflecting conversion of ADK Class A Units into Class A common stock). The converted shares were then sold the same days under predetermined automated transactions.

Key Details

• Transaction dates and reported weighted-average prices:
  • 2026-03-25: Sold 50,000 shares at $3.14 (weighted avg; individual trades ranged $3.03–$3.22) — proceeds ≈ $156,915. (Footnote F4)
  • 2026-03-26: Sold 100,000 shares at $3.28 (weighted avg; individual trades ranged $3.11–$3.37) — proceeds ≈ $327,700. (Footnote F5)
  • 2026-03-27: Sold 50,000 shares at $3.17 (weighted avg; individual trades ranged $3.11–$3.23) — proceeds ≈ $158,570. (Footnote F6)
• Total shares sold: 200,000; total reported proceeds: ~$643,185.
• Several entries show exercise/conversion of derivatives at $0.00 — these reflect conversion of ADK Class A Units into Class A common stock and cancellation of corresponding Class V shares (Footnotes F1, F2).
• Sales were made pursuant to a Rule 10b5-1 trading plan adopted by Aoki on December 8, 2025 (Footnote F3); the plan schedules automated open-market sales through June 30, 2026.
• Shares owned after transaction: not specified in the data provided in this summary/filing excerpt.
• Filing: Form 4 filed on 2026-03-27 reporting transactions primarily on 3/25–3/27; not marked as late.

Context

• The derivative entries are conversions/exercises (code M) of ADK Class A Units into Class A common stock at no cash price, followed by immediate (same-day) open-market sales — effectively an exercise/conversion and disposition sequence.
• The sales were automated under a pre-established 10b5-1 plan, which is a common mechanism executives use to make scheduled sales and helps avoid claims of trading on non-public information.
• These are sales (liquidity events) rather than purchases; sales are routine for insiders and do not by themselves indicate company prospects.