Navitas (NVTS) CFO sells 98K shares to cover equity award taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Navitas Semiconductor Corp reported that its Sr. V.P., CFO & Treasurer Todd Glickman sold 98,152 shares of Class A Common Stock at $10.78 per share. These sales were made under a company policy requiring “sales to cover” the minimum shares needed to satisfy tax withholding from the vesting of a compensatory award, including restricted stock units, and were structured to meet Rule 10b5-1(c) requirements. According to the disclosure, Glickman does not control the timing or number of shares sold under this policy. After the transaction, he directly holds 735,231 shares, indicating he retains a substantial equity stake.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 98,152 shares ($1,058,079)
Net Sell
1 txn
Insider
GLICKMAN TODD
Role
Sr. V.P., CFO & Treasurer
Sold
98,152 shs ($1.06M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 98,152 | $10.78 | $1.06M |
Holdings After Transaction:
Class A Common Stock — 735,231 shares (Direct)
Footnotes (1)
- Reflects sales made pursuant to the issuer's policy requiring "sales to cover" of the minimum number of shares as are necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award, including restricted stock units, and intending to satisfy the requirements of Rule 10b5-1(c) under the Securities Exchange Act of 1934. The reporting person does not exercise control over the timing of such sales or the number of shares sold. The reported securities were sold at $10.78. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which the transaction was effected.