Enovix (ENVX) CLO Arthi Chakravarthy Shares Withheld for Taxes

What Happened
Arthi Chakravarthy, Chief Legal Officer of Enovix Corp (ENVX), had 2,221 shares of Enovix common stock withheld to satisfy tax withholding obligations tied to vested restricted stock units (RSUs). The shares were valued at $3.95 each for a total of $8,773. This was a tax-withholding/share-for-taxes transaction (Form 4 code F), not an open-market sale or purchase.

Key Details

• Transaction date: 2026-07-24; Filing date: 2026-07-28 (filed within the typical 2-business-day Form 4 window).
• Shares withheld/disposed: 2,221 shares at $3.95 per share, total value $8,773.
• Transaction code: F — shares withheld to satisfy tax liabilities on vesting of RSUs.
• Shares owned after transaction: not specified in the excerpt provided.
• Footnotes of note:
  • F1: Confirms the shares were withheld to satisfy tax withholding on RSU vesting.
  • F2: Reporting person has additional equity interest including 353,355 shares issuable upon vesting/settlement of RSUs, plus 10,393 vested PRSUs (releasable March 2027) and 58,500 PRSUs (50% releasable April 2027, remainder April 2028). Each PRSU converts to one share on settlement.

Context
Withholding shares to cover taxes is a routine administrative step when RSUs vest and is common among executives; it is not the same as an open-market sale and generally should not be interpreted as a direct statement of market sentiment. This was a withholding/cashless tax settlement, not an acquisition.