Chakravarthy Arthi 4
4 · Enovix Corp · Filed May 28, 2026
Research Summary
AI-generated summary of this filing
Enovix (ENVX) CLO Arthi Withholds 2,221 Shares for Taxes
What Happened
Chakravarthy Arthi, Chief Legal Officer of Enovix Corp (ENVX), had 2,221 shares of company stock withheld to satisfy tax withholding obligations in connection with the vesting of restricted stock units (RSUs). The withheld shares were valued at $6.68 each, for a total of approximately $14,836. This transaction is a tax-withholding disposition (routine) rather than an open-market sale or purchase.
Key Details
- Transaction date and price: 2026-05-24; 2,221 shares withheld at $6.68 per share; total ~$14,836. (Footnote F1)
- Nature of transaction: Tax withholding on RSU vesting (disposition code F); routine and not necessarily a market-sentiment signal.
- Shares/awards reported after transaction: filing discloses a total of 460,092 shares issuable to the reporting person via awards (computed as 391,199 RSUs + 10,393 vested PRSUs to be released Mar 2027 + 58,500 PRSUs releasing Apr 2027/Apr 2028). (Footnote F2)
- Footnotes: F1 = withholding to satisfy tax obligations on RSU vesting. F2 = breakdown of outstanding RSUs and performance RSUs (PRSUs) with release schedules.
- Filing timing: Transaction dated 2026-05-24; Form 4 filed 2026-05-28 (4 calendar days later). Form 4s are generally due within two business days, so this filing appears to have been submitted after the typical deadline.
Context
This was a tax-withholding event tied to RSU vesting — a common, administrative disposition where the company retains shares to cover the employee’s tax bill. Such withholdings are routine and do not by themselves indicate the insider is reducing their overall ownership position beyond satisfying tax obligations. The filing also shows substantial remaining RSU/PRSU awards that will convert to shares on future vesting/release dates.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2]2026-05-24$6.68/sh−2,221$14,836→ 601,334 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 391,199 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.