Wittmann Michael 4

4 · indie Semiconductor, Inc. · Filed Mar 2, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

indie Semiconductor (INDI) COO Michael Wittmann Sells 37,500 Shares

What Happened

Michael Wittmann, COO of indie Semiconductor (INDI), converted/received 50,000 shares on 2026-03-01 from the vesting/conversion of restricted stock units (reported as derivative exercises/conversions at $0). He then sold 37,500 shares in open-market transactions on 2026-03-02 under a pre-existing Rule 10b5-1 plan, generating approximately $131,423 (weighted average price $3.50; individual sales reported at $65,841 and $65,582).
The filing also shows derivative disposals of 50,000 shares (12,500 and 37,500) at $0 on 2026-03-01 related to the RSU vesting/conversion. These actions appear linked to tax withholding and routine disposition rather than a discretionary market-timing purchase.

Key Details

Transaction dates: RSU conversion/exercise (derivative) on 2026-03-01; open-market sales on 2026-03-02.
Sale details: 18,787 shares sold at a weighted average $3.50 for $65,841; 18,713 shares sold at a weighted average $3.50 for $65,582. Reported price range across trades: $3.37–$3.67.
Shares acquired/converted: 50,000 RSU-based shares (12,500 + 37,500) at $0 (conversion of RSUs).
Shares sold to cover taxes / under plan: Filing notes shares were sold in the open market to pay withholding taxes and that the open-market sales were made pursuant to a Rule 10b5-1 trading plan (adopted Mar 15, 2024; modified May 26, 2025) that automates sales through Mar 31, 2027.
Shares owned after the transactions: Not specified in the provided filing summary.
Filing timeliness: Report covers transactions on 2026-03-01 and was filed 2026-03-02 (filed within the typical Form 4 reporting window).

Context

These were largely routine transactions tied to RSU vesting and pre-set 10b5-1 plan sales, not a discretionary open-market purchase. The RSUs converted at $0 reflect compensation vesting rather than an option exercise with cash payment.
For retail investors: purchases by insiders can indicate conviction; in this case the activity is primarily compensation vesting and plan-driven selling to satisfy tax obligations and automated plan terms, which are common and not necessarily a signal about near-term company prospects.

Form 4

Period: 2026-03-01

Chief Operating Officer

Transactions

Exercise/Conversion
Class A Common Stock
2026-03-01+12,500→ 123,885 total
Exercise/Conversion
Class A Common Stock
2026-03-01+37,500→ 161,385 total
Sale
Class A Common Stock
[F1][F2][F3]
2026-03-02$3.50/sh−18,787$65,841→ 142,598 total
Sale
Class A Common Stock
[F2][F3]
2026-03-02$3.50/sh−18,713$65,582→ 123,885 total
Exercise/Conversion
Restricted Stock Units
[F4][F5]
2026-03-01−12,500→ 0 total
→ Class A Common Stock (12,500 underlying)
Exercise/Conversion
Restricted Stock Units
[F4][F6]
2026-03-01−37,500→ 150,000 total
→ Class A Common Stock (262,500 underlying)

Footnotes (6)

[F1]Represents shares of Class A common stock sold in the open market to pay for withholding taxes in connection with the vesting of Restricted Stock Units ("RSUs").
[F2]The sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 15, 2024, and modified on May 26, 2025. The Reporting Person's Rule 10b5-1 plan includes automated open market sales of the Issuer's Class A common stock on predetermined dates through March 31, 2027.
[F3]The price reported in Column 4 is a weighted average price. The shares reported in this Form 4 were sold in separate transactions at prices ranging from $3.37 to $3.67, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
[F4]Each restricted stock unit represents a contingent right to receive one share of Class A common stock.
[F5]The time-based restricted stock units shall vest and become nonforfeitable with respect to fifty percent (50%) of the total number of restricted stock units on March 1, 2025 and 2026.
[F6]The time-based restricted stock units shall vest and become nonforfeitable over two years in quarterly equal installments starting on June 1, 2025 through March 1, 2027.

Signature

/s/ Michael Wittmann, by Naixi Wu pursuant to power of attorney filed on January 22, 2024|2026-03-02

1 file