Chakravarthy Arthi 4
4 · Enovix Corp · Filed Jul 6, 2026
Research Summary
AI-generated summary of this filing
Enovix (ENVX) CLO Arthi Withholds 10,368 Shares for Taxes
What Happened
Chakravarthy Arthi, Chief Legal Officer of Enovix Corp (ENVX), had 10,368 shares withheld to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The filing shows two withholding transactions on July 1, 2026: 3,336 shares withheld at $5.85 each (≈ $19,516) and 7,032 shares withheld at $5.85 each (≈ $41,137), for a combined value of about $60,653. This was a routine tax-withholding disposition (not an open-market sale).
Key Details
- Transaction date: July 1, 2026; Filing date: July 6, 2026.
- Prices and amounts: 3,336 shares @ $5.85 = $19,516; 7,032 shares @ $5.85 = $41,137; total 10,368 shares ≈ $60,653.
- Type of disposition: Tax withholding upon RSU vesting (transaction code F). These shares were surrendered/withheld to satisfy tax obligations, not sold on the open market.
- Holdings/rights after transaction (per footnotes):
- Footnote F2: Includes 378,938 shares issuable upon RSU vesting, plus 10,393 vested PRSUs (to be released March 2027) and 58,500 PRSUs (50% releasable April 2027, remainder April 2028). Each PRSU converts to one share on settlement.
- Footnote F3: Includes 365,658 shares issuable upon RSU vesting, as well as the “Earned PRSUs” described above.
- Timeliness: The Form 4 was filed five days after the transaction (filed July 6, 2026 for a July 1, 2026 transaction). Form 4s are generally required within two business days of the transaction.
Context
This was a cashless tax-withholding event tied to RSU/PRSUs vesting — a common, administrative transaction that does not necessarily indicate a change in the insider’s view of the company. PRSUs noted in the footnotes are performance-based awards that convert to shares only if/when performance and timing conditions are met.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2]2026-07-01$5.85/sh−3,336$19,516→ 598,019 total - Tax Payment
Common Stock
[F1][F3]2026-07-01$5.85/sh−7,032$41,137→ 590,987 total
Footnotes (3)
- [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 378,938 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 (the foregoing PRSUs collectively referred to as the "Earned PRSUs"). Each PRSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
- [F3]Includes 365,658 shares issuable upon the vesting and settlement of RSUs granted to the Reporting Person, as well as the Earned PRSUs.