Wittmann Michael 4
4 · indie Semiconductor, Inc. · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
indie Semiconductor (INDI) COO Michael Wittmann Sells Shares
What Happened Michael Wittmann, Chief Operating Officer of indie Semiconductor (INDI), had 25,000 restricted stock units convert to 25,000 shares on March 6, 2026 (recorded as a conversion/exercise of a derivative at $0.00 per share). To cover withholding taxes on the vesting, 25,000 shares were surrendered/withheld (reported as a derivative disposition at $0.00). Separately, on March 9, 2026 he sold a total of 18,750 shares in two open-market transactions (9,154 and 9,596 shares) at a weighted average price of $2.54, generating approximately $47,586 in gross proceeds. These sales were made pursuant to a Rule 10b5-1 trading plan.
Key Details
- Transaction dates: Conversion/vesting and withholding — March 6, 2026; open-market sales — March 9, 2026. Form 4 filed March 10, 2026 (timely).
- Sales: 9,154 shares and 9,596 shares sold at a weighted average of $2.54; reported price range $2.42–$2.63. Total proceeds ≈ $47,586.
- Conversion: 25,000 RSUs vested/converted to 25,000 shares at $0.00 (RSUs represent a contingent right to one share each).
- Withholding: 25,000 shares were withheld/surrendered to satisfy tax withholding on vesting (reported at $0.00).
- Rule 10b5-1 plan: Sales were made under a pre-established 10b5-1 plan adopted Mar 15, 2024 and modified May 26, 2025, covering automated sales through Mar 31, 2027.
- Shares owned after the reported transactions: Not disclosed in this filing.
- Filing timeliness: Report appears timely (filed March 10, 2026).
Context
- The conversion was a routine RSU vesting event (each RSU converts to one share; vesting schedule noted in footnotes). Some or all shares from vesting were used to pay withholding taxes rather than an out‑of‑pocket tax payment.
- The March 9 sales were pre-scheduled under a 10b5-1 plan (automated open-market sales on predetermined dates); such sales are typically viewed as pre-arranged and do not necessarily signal a change in the insider’s view of the company.
- Derivative entries labeled "M" indicate conversion/exercise of a derivative (here, RSUs); "S" entries are open-market sales.
Insider Transaction Report
Form 4
Wittmann Michael
Chief Operating Officer
Transactions
- Exercise/Conversion
Class A Common Stock
2026-03-06+25,000→ 148,885 total - Sale
Class A Common Stock
[F1][F2][F3]2026-03-09$2.54/sh−9,154$23,232→ 139,731 total - Sale
Class A Common Stock
[F2][F3]2026-03-09$2.54/sh−9,596$24,354→ 130,135 total - Exercise/Conversion
Restricted Stock Units
[F4][F5]2026-03-06−25,000→ 50,000 total→ Class A Common Stock (75,000 underlying)
Footnotes (5)
- [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 $2.42 to $2.63, 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 twenty-five percent (25%) of the total number of restricted stock units on each of the first, second, third and fourth anniversaries of the grant date.
Signature
/s/ Michael Wittmann, by Naixi Wu pursuant to power of attorney filed on January 22, 2024|2026-03-10