Chakravarthy Arthi 4

What Happened
Chakravarthy Arthi, Enovix's Chief Legal Officer, was credited with two performance restricted stock unit (PRSU) awards that vested on Feb 18, 2026: 36,174 PRSUs and 22,326 PRSUs (total 58,500 PRSUs). The reported acquisitions are coded as awards (A) at $0.00 per share (awards, not purchases or sales). Each PRSU represents a contingent right to receive one share of Enovix common stock upon settlement; settlement will occur in scheduled releases rather than immediate share delivery.

Key Details

• Transaction date: Feb 18, 2026; Form 4 filed Mar 6, 2026 (filed 16 days after the transaction date, which appears late for a Form 4).
• Transaction type/code: A = Award/Grant. Reported price: $0.00; total reported cash value = $0.
• Shares awarded: 36,174 PRSUs (F1) and 22,326 PRSUs (F3) — total 58,500 PRSUs vested on Feb 18, 2026.
• Release/settlement schedule:
  • 36,174 PRSUs: 50% released Apr 1, 2027; remaining 50% Apr 1, 2028 (F1).
  • 22,326 PRSUs: 50% released Apr 8, 2027; remaining 50% Apr 8, 2028 (F3).
  • Filing also notes (F2) 262,360 shares issuable upon vesting/settlement of other RSUs granted to the reporting person, plus 10,393 vested PRSUs to be released Mar 2, 2027.
• Shares owned after transaction: The Form does not state a single consolidated beneficial ownership number; F2 discloses additional issuable shares (262,360) plus vested PRSUs and the 10,393 PRSUs due Mar 2, 2027.
• Notable: These are performance-based awards (PRSUs), contingent on achievement/vesting and scheduled releases — not open-market purchases or sales.

Context
PRSUs are performance-contingent restricted stock units; they convert to actual shares only upon settlement per the stated release schedule. Because these are awards (not purchases or sales), they do not represent a direct cash investment by the insider and should not be read as an explicit bullish or bearish market signal. The late filing may be relevant for compliance monitoring but does not change the nature of the awards.