Eugene Sheridan - Nov 18, 2022 Form 4 Insider Report for Navitas Semiconductor Corp (NVTS)

Signature
/s/ Paul D. Delva, attorney-in-fact
Stock symbol
NVTS
Transactions as of
Nov 18, 2022
Transactions value $
-$2,209,695
Form type
4
Date filed
11/22/2022, 08:28 PM
Previous filing
Feb 10, 2022
Next filing
Feb 10, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVTS Class A Common Stock Sale -$1.13M -259K -9.46% $4.38 2.48M Nov 18, 2022 Direct F1, F2
transaction NVTS Class A Common Stock Sale -$1.08M -263K -10.62% $4.09 2.21M Nov 21, 2022 Direct F1, F3, F4
holding NVTS Class A Common Stock 210K Nov 18, 2022 GSMS Trust F5
holding NVTS Class A Common Stock 600K Nov 18, 2022 Lolas Trust F5
holding NVTS Class A Common Stock 2.27M Nov 18, 2022 Eugene and Melissa Sheridan Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In accordance with issuer policy the reported securities were sold automatically solely to cover applicable withholding taxes, incurred by the reporting person as a result of the settlement of vested restricted stock units (RSUs), in transactions intended to comply with a trading plan under Rule 10b5-1(c) of the Exchange Act.
F2 The reported securities were sold in multiple trades at prices ranging from $4.37 to $4.48, inclusive. The price reported above reflects the weighted average sale price. 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.
F3 The reported securities were sold in multiple trades at prices ranging from $4.06 to $4.38, inclusive. The price reported above reflects the weighted average sale price. 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.
F4 Consists of (i) 390,083 shares of common stock and (ii) 1,824,000 shares of common stock underlying unvested restricted stock units, which will vest in one-half increments on each of August 25, 2023 and August 25, 2024, subject to the reporting person's continued employment, or earlier upon certain events. Vesting results in the delivery of one share of common stock per vested unit following the vesting date.
F5 The reporting person disclaims beneficial ownership of the reported securities, and this report shall not be deemed an admission that the reporting person beneficially owns the reported securities for purposes of Section 16 or any other purpose.