McClymont Donald 4

What Happened

• Donald McClymont, CEO of indie Semiconductor (INDI), had 18,288 restricted stock units (RSUs) vest and convert to common shares on 2026-06-01, and sold 9,425 shares in an open-market transaction on 2026-06-02 at $5.12 per share, generating $48,227.
• The RSU conversion/exercise entries are reported at $0 because RSUs convert to shares without an exercise price. The sale appears to have been done to satisfy tax withholding in connection with the vesting.

Key Details

• Dates and prices:
  • 2026-06-01: Grant/Award of 18,288 RSUs (reported at $0).
  • 2026-06-01: Conversion/exercise of 18,288 derivative units to shares (reported at $0).
  • 2026-06-02: Open-market sale of 9,425 shares at $5.12 each for $48,227.
• Shares retained from the vesting: 18,288 vested shares minus 9,425 sold = 8,863 shares retained from this grant (inferred from the filing).
• Shares owned after transaction: not explicitly stated in the Form 4 filing.
• Footnotes:
  • F1: The sale represents shares sold in the open market to pay withholding taxes for the RSU vesting.
  • F2: Each RSU represents a contingent right to one share of Class A common stock.
  • F3: These RSUs were fully vested as of the grant date and were issued in lieu of a portion of cash salary under a voluntary equity compensation program approved June 2023.
• Timeliness: Form filed on 2026-06-03 for transactions dated 2026-06-01 and 06-02. The filing does not indicate a late filing.

Context

• This was not a buy; it’s a routine sale tied to tax withholding after RSUs vested. When RSUs vest they convert to shares (no cash exercise price), and it's common for executives to sell a portion to cover taxes. Such sales are typically administrative and do not necessarily indicate a change in insider sentiment.