Form 4: Enovix Director and 10% Owner Thurman J. Rodgers Reports Internal Share Transfer to Trust

Thurman J. Rodgers, a Director and 10% owner of Enovix Corp, reported an internal transfer of 3,782 common shares to a revocable living trust, maintaining beneficial ownership.

Summary

• Thurman J. Rodgers, identified as a Director and 10% Owner of Enovix Corp (ENVX), filed a Form 4.
• The transaction date for the reported changes was June 16, 2025.
• Mr. Rodgers transferred 3,782 shares of common stock from his direct ownership to the Rodgers Massey Revocable Living Trust dtd 4/4/11.
• This transfer is noted as a 'G' transaction code, indicating a gift or non-sale disposition, with a price of $0.
• Concurrently, the Rodgers Massey Revocable Living Trust acquired 3,782 shares, reflecting the internal transfer.
• Following these transactions, Mr. Rodgers' direct beneficial ownership stands at 22,543 shares, which includes 22,543 restricted stock units (RSUs) issuable upon settlement.
• Indirect beneficial ownership includes 20,801,265 shares held by the Rodgers Massey Revocable Living Trust and 900,000 shares held by the Rodgers Family Freedom and Free Markets Charitable Trust.
• Mr. Rodgers retains voting and dispositive power over the shares held by both trusts, as he is a trustee for both.

Sentiment

Score: 5

Explanation: The transaction is an internal transfer of shares by a director and 10% owner to a trust, maintaining beneficial ownership. It is an administrative action and does not reflect a change in investment sentiment or company performance, thus it is neutral.

Positives

• The transaction represents an internal transfer of shares to a trust, not a market sale, indicating no change in the insider's overall beneficial ownership or confidence in the company.
• The reporting person, Thurman J. Rodgers, continues to hold a significant beneficial interest in Enovix Corp, both directly and indirectly through trusts, demonstrating continued alignment with shareholder interests.

Future Outlook

The document, being a Form 4, does not provide any forward-looking statements or guidance regarding the company's future performance or strategic outlook. It solely reports changes in beneficial ownership.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide information relevant to broader industry trends or competitive landscape analysis. It pertains specifically to the beneficial ownership of a key individual within Enovix Corp.

Related Party Transactions

• The transfer of 3,782 shares was made to the Rodgers Massey Revocable Living Trust, for which the reporting person, Thurman J. Rodgers, serves as a trustee and maintains voting and dispositive power over the shares. This constitutes a transaction with a related party.

Stakeholder Impact

• Shareholders: The transaction is an administrative internal transfer and does not dilute existing shares or signal a change in the insider's long-term commitment. It confirms continued significant beneficial ownership by a key director and 10% owner.

Key Dates

Keywords

Enovix Corp, ENVX, Thurman J. Rodgers, Form 4, SEC filing, insider transaction, beneficial ownership, share transfer, director, 10% owner, common stock, RSU