Wittmann Michael 4

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.