McClymont Donald 4

What Happened
Donald McClymont, CEO of indie Semiconductor (INDI), had restricted stock units (RSUs) convert to common shares on March 1, 2026 (totaling 186,835 shares from derivative conversions/grants). A portion of those shares — 90,644 shares — were sold in the open market on March 2, 2026 at $3.56 per share, generating total proceeds of $322,847. The sales were reported as occurring to cover withholding taxes related to the vesting/conversion of RSUs.

Key Details

• Transaction dates: conversion/vesting on 2026-03-01; open-market sales on 2026-03-02 (reported on Form 4 filed 2026-03-02).
• Sales: 77,920 shares @ $3.56 = $277,528 and 12,724 shares @ $3.56 = $45,319 (total 90,644 shares for $322,847).
• Shares acquired via derivative conversion/grant on 2026-03-01: 162,500 + 24,335 = 186,835 shares (RSU-related).
• Reason for sale: footnote indicates shares were sold in the open market to pay withholding taxes in connection with RSU vesting.
• Post-transaction beneficial ownership: not disclosed in the Form 4.
• Filing timeliness: Form 4 was filed 2026-03-02 covering transactions on 2026-03-01 — appears timely.

Context

• These transactions reflect RSU conversions and subsequent market sales to satisfy tax withholding obligations (a common, routine practice), not an outright open-market purchase or discretionary sale for investment exposure.
• RSUs are derivative awards that convert into shares when they vest; here the filing shows both conversions/awards and the related market sales. Footnotes note vesting rules (50% on March 1, 2025 and 50% on March 1, 2026 for certain time-based RSUs) and that some RSUs were issued in lieu of cash salary.
• No indication in the filing of a 10b5-1 plan, gifts, or other non-routine trading instructions.