Form 4: Enovix Corp COO Ajay Marathe Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Enovix Corp's Chief Operating Officer, Ajay Marathe, reported the withholding of 1,488 shares to cover tax obligations related to vesting restricted stock units.
Summary
- On June 9, 2024, Ajay Marathe, the Chief Operating Officer of Enovix Corp, reported a transaction involving the withholding of 1,488 shares of common stock.
- The shares were withheld to satisfy tax obligations related to the vesting of restricted stock units (RSUs) on June 8, 2024.
- The price per share for the withholding was $10.48.
- Following the transaction, Marathe beneficially owns 971,117 shares of Enovix Corp, which includes 814,267 shares issuable upon the settlement of RSUs.
Sentiment
Score: 5
Explanation: This is a neutral report on a routine transaction related to executive compensation and tax obligations.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on the total number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 06/08/2024 | Vesting date of restricted stock units (RSUs). |
| 06/09/2024 | Date of the share withholding transaction. |
| 06/10/2024 | Date of signature for the Form 4 filing. |
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