Form 4: Indie Semiconductor CEO Donald McClymont Reports Changes in Beneficial Ownership
SEC Form 4
CEO Donald McClymont reports transactions involving Class A Common Stock and Phantom Awards, including sales to cover withholding taxes upon vesting.
Summary
- On April 30, 2024, Donald McClymont, CEO of indie Semiconductor, Inc., reported changes in his beneficial ownership of the company's securities.
- These changes include the vesting of 20,851 Phantom Awards and the sale of 7,582 shares of Class A common stock on May 1, 2024, at a price of $5.53 per share to cover withholding taxes.
- Following these transactions, McClymont directly owns 83,731 shares of Class A Common Stock and 5,639,506 shares of Class V Common Stock.
- He also indirectly owns 68,115 shares of Class A Common Stock through his spouse.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing transactions by a company insider; it doesn't inherently convey positive or negative sentiment.
Future Outlook
The remaining 25% of the Phantom Units will vest on the earlier of December 1, 2024, or termination of service, subject to the Phantom Award Agreement.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities.
Stakeholder Impact
- Shareholders are informed about the CEO's transactions in the company's stock, providing transparency.
Key Dates
| Date | Description |
|---|---|
| 12/10/2021 | 25% of Phantom Units vested |
| 06/21/2021 | Power of attorney filed |
| 12/01/2022 | 25% of Phantom Units vested |
| 12/01/2023 | 25% of Phantom Units vested |
| 04/30/2024 | Date of earliest transaction; Phantom Units vested upon termination of service |
| 05/01/2024 | 7,582 shares of Class A common stock sold at $5.53 |
| 05/02/2024 | Date of signature |
| 12/01/2024 | Remaining 25% of Phantom Units will vest, or upon termination of service, whichever is earlier |
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