Chakravarthy Arthi 4
4 · Enovix Corp · Filed Apr 6, 2026
Research Summary
AI-generated summary of this filing
Enovix CLO Arthi Chakravarthy Sells 3,337 Shares (Tax Withholding)
What Happened
Arthi Chakravarthy, Chief Legal Officer of Enovix Corp (ENVX), had 3,337 shares withheld on April 1, 2026 to satisfy tax-withholding obligations tied to the vesting of restricted stock units (RSUs). The shares were recorded as disposed at $4.97 per share, for a total value of $16,585. This transaction is coded as tax withholding (F) — a routine disposal to cover taxes, not an open-market sale indicating a change in sentiment.
Key Details
- Transaction date and price: 2026-04-01 — 3,337 shares withheld at $4.97/share (total $16,585).
- Transaction code: F (withholding of shares to satisfy tax obligations).
- Filing date: Form 4 filed 2026-04-06 for the 2026-04-01 transaction — appears to be filed later than the standard two-business-day requirement.
- Holdings disclosed (per footnote): includes 250,099 shares issuable upon RSU vesting plus (i) 10,393 vested PRSUs to be released March 2027 and (ii) 58,500 PRSUs (50% to be released April 2027, remainder April 2028). Each PRSU converts to one share upon settlement.
- Footnote summary: F1 confirms shares were withheld to satisfy tax withholding; F2 details the RSU/PRSU balances and release schedule.
Context
Withholding shares to cover taxes is common for RSU vesting and generally considered administrative/routine rather than a market timing signal. The filing shows significant remaining contingent awards (RSUs and PRSUs) with staged release dates, which explain ongoing equity compensation for the executive.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2]2026-04-01$4.97/sh−3,337$16,585→ 451,645 total
Footnotes (2)
- [F1]Reflects the withholding of shares of the Issuer's common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock units ("RSUs").
- [F2]Includes 250,099 shares issuable upon the vesting and settlement of RSUs granted to the Reporting Person, as well as: (i) 10,393 vested performance restricted stock units ("PRSUs"), which will be released to the Reporting Person in March 2027, and (ii) an aggregate of 58,500 PRSUs, 50% of which will be released in April 2027, with the remainder to be released in April 2028. Each PRSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.