indie Semiconductor (INDI) CEO Donald McClymont Sells 50,000 Shares

What Happened
Donald McClymont, CEO of indie Semiconductor (INDI), converted ADK Class A units into 50,000 shares of Class A common stock (no cash paid) and sold 50,000 shares in the open market on September 15, 2026. The sale generated total proceeds of approximately $155,460 at a weighted average price of $3.11 per share (individual trade prices ranged $3.08–$3.17). The conversion/cancellation of related Class V shares is also reported in the filing.

Key Details

• Transaction date: September 15, 2026. Form 4 filed September 17, 2026 (appears timely).
• Sale: 50,000 shares sold in open market for a weighted average $3.11; proceeds ≈ $155,460. Trades ranged $3.08–$3.17.
• Conversion/Exercise: Reporting shows conversion/exercise entries (derivative code M) of 50,000 ADK Class A Units into Class A common shares at $0.00. Equivalent number of Class V common shares were cancelled per footnote.
• Plan/authorization: The sale was made under a Rule 10b5-1 trading plan adopted June 13, 2025, with automated sales through June 30, 2027.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1–F2 explain conversion of ADK units and cancellation of Class V shares; F3 confirms the 10b5-1 plan; F4 notes the reported price is a weighted average across multiple trades.

Context
This filing shows a same-day conversion of derivative units into common stock followed by an open-market sale. That pattern (exercise/conversion then sell) is commonly used to convert and monetize previously held units; the sale here was preauthorized under a 10b5-1 plan, which automates trades at predetermined dates/prices and helps show trades were pre-planned rather than opportunistic.