Ron Shelton - 14 Mar 2023 Form 4 Insider Report for Navitas Semiconductor Corp (NVTS)

Signature
/s/ Paul D. Delva, attorney-in-fact
Issuer symbol
NVTS
Transactions as of
14 Mar 2023
Net transactions value
-$20,872
Form type
4
Filing time
16 Mar 2023, 20:12:56 UTC
Previous filing
15 Jul 2022
Next filing
18 Aug 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVTS Class A Common Stock Award $0 +7,865 +2.1% $0.000000 382,865 14 Mar 2023 Direct F1
transaction NVTS Class A Common Stock Sale $20,872 -3,313 -0.87% $6.30 379,552 15 Mar 2023 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects grant of fully vested restricted stock units (RSUs).
F2 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.
F3 The reported securities were sold in multiple trades at prices ranging from $6.20 to $6.31, 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) 4,552 shares of common stock and (ii) 375,000 shares underlying restricted stock units which will vest in 25% increments on each of the first four anniversaries of April 20, 2022, subject to the reporting person's continued employment by the issuer on the applicable vesting date, or earlier upon certain events. Upon vesting, RSUs convert into common stock on a one-for-one basis.