Aoki Ichiro 4

What Happened
Ichiro Aoki, President and Director of indie Semiconductor, sold 100,000 shares in two open-market transactions on March 23–24, 2026. He sold 50,000 shares on March 23 at a weighted average price of $2.61 (total ~$130,260; per-share trades ranged $2.53–$2.66) and 50,000 shares on March 24 at a weighted average price of $2.83 (total ~$141,555; per-share trades ranged $2.58–$2.945), for combined proceeds of approximately $271,815. The Form 4 also reports conversion/exercise-type derivative transactions (code M) tied to ADK Class A Units being converted to Class A common stock (reported at $0.00 per share) in connection with these transactions.

Key Details

• Transaction dates: March 23, 2026 and March 24, 2026. Report filed March 25, 2026.
• Sales: 50,000 shares @ $2.61 (3/23) and 50,000 shares @ $2.83 (3/24); total proceeds ≈ $271,815. Weighted-average prices reported; see footnotes for trade price ranges.
• Derivative activity: Several code M entries show conversion/exercise of ADK Class A Units into Class A common stock (reported $0.00 per share). Footnotes F1–F2 explain conversion mechanics and cancellation of Class V common stock on exchange.
• 10b5-1 plan: Sales were made under a Rule 10b5-1 trading plan adopted Dec 8, 2025; plan schedules automated open-market sales through June 30, 2026 (footnote F3).
• Shares owned after transaction: Not specified in the excerpt of the Form 4 provided — see the full Form 4 for current holdings.
• Filing timeliness: Form 4 dated March 25, 2026 covering March 23–24 transactions; no late filing flag indicated in the filing excerpt.

Context
The zero-dollar derivative entries reflect conversion of previously held ADK Class A Units into Class A common stock rather than a cash purchase; those newly issued/converted shares were then sold under the pre-established 10b5-1 plan. Transactions executed under a 10b5-1 plan are automated and pre-arranged; they are routine and do not alone indicate the insider’s current view of the company.