Form 4: Enovix CLO Reports RSU Vesting, Tax Withholding

Enovix Chief Legal Officer Arthi Chakravarthy reported the vesting of restricted stock units and subsequent share disposals for tax obligations.

Summary

• Arthi Chakravarthy, Chief Legal Officer of Enovix Corp (ENVX), reported transactions involving the company's common stock.
• On November 21, 2025, 4,960 shares of common stock were acquired upon the receipt of fully vested restricted stock units (RSUs) for the quarter ended September 28, 2025.
• Following this acquisition, the beneficial ownership stood at 428,995 shares.
• On November 21, 2025, 2,622 shares were disposed of at $7.47 per share to satisfy tax withholding obligations related to the RSU vesting, reducing beneficial ownership to 426,373 shares.
• On November 24, 2025, an additional 2,217 shares were disposed of at $7.58 per share for tax withholding in connection with RSU vesting.
• After all reported transactions, Chakravarthy's beneficial ownership is 424,156 shares of Enovix common stock.
• This beneficial ownership includes 303,276 shares issuable upon the future vesting and settlement of RSUs and 20,786 vested performance RSUs (PRSUs).

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to executive compensation (RSU vesting and tax withholding), which are expected and generally have a neutral impact on market sentiment.

Positives

• The reporting person received 4,960 shares of common stock through the vesting of restricted stock units, representing earned compensation for the quarter ended September 28, 2025.

Negatives

• A total of 4,839 shares (2,622 shares at $7.47 and 2,217 shares at $7.58) were disposed of to cover tax withholding obligations, reducing direct beneficial ownership.

Future Outlook

The reporting person has future vesting events, including 303,276 shares issuable upon the vesting and settlement of RSUs and 20,786 vested PRSUs, with specific release dates in March 2026 and March 2027.

Industry Context

These transactions represent routine executive compensation events, where restricted stock units vest and a portion of the shares are sold to cover tax liabilities. This is a common practice across publicly traded companies, particularly in the technology sector, to align executive incentives with shareholder value.

Stakeholder Impact

• Shareholders: Minor, routine dilution from RSU vesting and subsequent tax-related sales, which is a standard part of executive compensation and generally not considered significant.
• Employees (specifically the reporting person): Receipt of earned compensation in the form of vested shares.

Next Steps

• Release of 50% of vested performance RSUs on March 2, 2026.
• Release of the remaining 50% of vested performance RSUs on March 1, 2027.
• Future vesting and settlement of 303,276 RSUs.

Key Dates

Keywords

Enovix, ENVX, Form 4, Insider Transaction, RSU Vesting, Executive Compensation, Stock Disposal, Tax Withholding