Form 4: Enovix CEO Rajendra Talluri Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Enovix CEO Rajendra K. Talluri disposed of 17,584 shares of common stock on October 18, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On October 18, 2024, Rajendra K. Talluri, the President and CEO of Enovix Corp, disposed of 17,584 shares of Enovix common stock.
- The transaction was executed to satisfy tax withholding obligations associated with the vesting of restricted stock units (RSUs).
- The shares were sold at a price of $11.45 per share.
- Following the transaction, Talluri directly owns 2,349,905 shares of Enovix, which includes 1,904,749 shares issuable upon the settlement of RSUs.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (selling shares to cover taxes on vested RSUs), which is neither particularly positive nor negative.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. Selling shares to cover tax obligations upon vesting of RSUs is a common practice.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/18/2024 | Date of transaction: Rajendra Talluri disposed of shares to cover tax obligations related to vesting RSUs. |
| 10/21/2024 | Date of signature on the Form 4 filing. |
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