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indie Semiconductor, Inc.·4

May 29, 7:45 PM ET

Aoki Ichiro 4

4 · indie Semiconductor, Inc. · Filed May 29, 2026

Research Summary

AI-generated summary of this filing

Updated

indie Semiconductor (INDI) President Ichiro Aoki Sells Shares

What Happened Ichiro Aoki, President and Director of indie Semiconductor (INDI), converted ADK Class A units into Class A common stock (derivative conversion/exercise) and immediately sold those shares in the open market. Across transactions on May 27–29, 2026 he sold a total of 729,900 shares for aggregate proceeds of approximately $3,793,161. Individual trades included 175,000 shares on 5/27 at $5.06 ($885,028) and sales on 5/28–5/29 of 200,000, 225,000, 29,900, 80,200 and 19,800 shares at weighted prices shown below.

Key Details

  • Dates & main prices:
    • 2026-05-27: 175,000 shares sold @ $5.06 — $885,028
    • 2026-05-28: 200,000 shares sold @ $5.25 — $1,050,360
    • 2026-05-28: 225,000 shares sold @ $5.31 — $1,194,975
    • 2026-05-28: 29,900 shares sold @ $5.28 — $157,776
    • 2026-05-29: 80,200 shares sold @ $5.05 — $405,034
    • 2026-05-29: 19,800 shares sold @ $5.05 — $99,988
    • Total: 729,900 shares sold for ~$3.79M
  • The underlying acquisitions were conversions of ADK Class A units into Class A common stock (reported as exercise/conversion at $0.00 per share). Footnotes F1 and F2 explain that ADK units are exchangeable for Class A shares and that an equivalent number of Class V shares were cancelled upon conversion.
  • Some sale price fields are weighted averages and the trades occurred within reported price ranges (see footnotes F4–F6, F8–F10 for ranges). One footnote (F7) notes a Rule 10b5-1 trading plan adopted Dec 8, 2025 that includes automated sales through June 30, 2026; at least some sales are described as pursuant to that plan.
  • Filing: Form 4 was filed on 2026-05-29 for transactions between 2026-05-27 and 2026-05-29. The filing is marked late (timeliness = L).

Context

  • These transactions appear to be conversions of exchangeable ADK units followed by immediate open-market sales (a cashless-type conversion + sale), rather than purchases — so they are liquidity events rather than new insider accumulation. Conversions occurred at $0 reported cost because they reflect an exchange of units for shares, as described in the footnotes.
  • Post-transaction shareholdings are not provided in the summary above; consult the Form 4 for Aoki’s total holdings after these transactions. File footnotes provide fuller details (price ranges per sale, Rule 10b5-1 plan disclosure, and cancellation of Class V shares upon conversion).

Insider Transaction Report

Form 4
Period: 2026-05-27
indie Semiconductor, Inc.INDI
Aoki Ichiro
DirectorPresident
Transactions
  • Exercise/Conversion

    Class V Common Stock

    [F1]
    2026-05-27−175,000→ 3,344,262 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-05-27+175,000→ 281,169 total
  • Sale

    Class A Common Stock

    [F3][F4]
    2026-05-27$5.06/sh−175,000$885,028→ 106,169 total
  • Exercise/Conversion

    Class V Common Stock

    [F1]
    2026-05-28−200,000→ 3,144,262 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-05-28+200,000→ 306,169 total
  • Sale

    Class A Common Stock

    [F3][F5]
    2026-05-28$5.25/sh−200,000$1,050,360→ 106,169 total
  • Exercise/Conversion

    Class V Common Stock

    [F1]
    2026-05-28−225,000→ 2,919,262 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-05-28+225,000→ 331,169 total
  • Sale

    Class A Common Stock

    [F3][F6]
    2026-05-28$5.31/sh−225,000$1,194,975→ 106,169 total
  • Exercise/Conversion

    Class V Common Stock

    [F1]
    2026-05-28−29,900→ 2,889,362 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-05-28+29,900→ 136,069 total
  • Sale

    Class A Common Stock

    [F7][F8]
    2026-05-28$5.28/sh−29,900$157,776→ 106,169 total
  • Exercise/Conversion

    Class V Common Stock

    [F1]
    2026-05-29−80,200→ 2,809,162 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-05-29+80,200→ 186,369 total
  • Sale

    Class A Common Stock

    [F3][F9]
    2026-05-29$5.05/sh−80,200$405,034→ 106,169 total
  • Exercise/Conversion

    Class V Common Stock

    [F1]
    2026-05-29−19,800→ 2,789,362 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-05-29+19,800→ 125,969 total
  • Sale

    Class A Common Stock

    [F3][F10]
    2026-05-29$5.05/sh−19,800$99,988→ 106,169 total
  • Exercise/Conversion

    ADK Class A Units

    [F2][F11]
    2026-05-27−175,000→ 3,344,262 total
    Exercise: $0.00From: 2021-12-10→ Class A Common Stock (4,939,362 underlying)
  • Exercise/Conversion

    ADK Class A Units

    [F2][F11]
    2026-05-28−200,000→ 3,144,262 total
    Exercise: $0.00From: 2021-12-10→ Class A Common Stock (4,939,362 underlying)
  • Exercise/Conversion

    ADK Class A Units

    [F2][F11]
    2026-05-28−225,000→ 2,919,262 total
    Exercise: $0.00From: 2021-12-10→ Class A Common Stock (4,939,362 underlying)
  • Exercise/Conversion

    ADK Class A Units

    [F2][F11]
    2026-05-28−29,900→ 2,889,362 total
    Exercise: $0.00From: 2021-12-10→ Class A Common Stock (4,939,362 underlying)
  • Exercise/Conversion

    ADK Class A Units

    [F2][F11]
    2026-05-29−80,200→ 2,809,162 total
    Exercise: $0.00From: 2021-12-10→ Class A Common Stock (4,939,362 underlying)
  • Exercise/Conversion

    ADK Class A Units

    [F2][F11]
    2026-05-29−19,800→ 2,789,362 total
    Exercise: $0.00From: 2021-12-10→ Class A Common Stock (4,939,362 underlying)
Footnotes (11)
  • [F1]Cancellation of Class V Common Stock upon Reporting Person's exchange of ADK Class A Units for an equal number of shares of Class A Common Stock. See note 2.
  • [F10]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $5.03 to $5.07, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
  • [F11]N/A
  • [F2]Class A Common Stock received upon conversion of ADK Class A Units. The ADK Class A Units may be exchanged by the Reporting Person at any time after December 10, 2021 for an equal amount of shares of Class A Common Stock or, at the election of the Issuer, cash equal to the fair market value of such shares. Upon the Reporting Person's exchange of an ADK Class A Unit for Class A Common Stock, an equivalent number of shares of Class V Common Stock will be cancelled.
  • [F3]Represents shares of Class A Common Stock sold in the open market.
  • [F4]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $4.945 to $5.14, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
  • [F5]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $5.09 to $5.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
  • [F6]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $5.235 to $5.435, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
  • [F7]This sale was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 8, 2025. The Reporting Person's Rule 10b5-1 plan includes automated open market sales of the Issuer's Class A common stock on predetermined dates through June 30, 2026.
  • [F8]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $5.25 to $5.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
  • [F9]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $4.935 to $5.19, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
Signature
/s/ Ichiro Aoki by Naixi Wu pursuant to power of attorney filed on June 21, 2021|2026-05-29

Documents

1 file
  • 4
    ownership.xmlPrimary

    4