Ranbir Singh - Mar 14, 2023 Form 4 Insider Report for Navitas Semiconductor Corp (NVTS)

Role
EVP, GeneSic Business, 10%+ Owner
Signature
/s/ Paul D. Delva, as Attorney-in-Fact
Stock symbol
NVTS
Transactions as of
Mar 14, 2023
Transactions value $
-$120,450,595
Form type
4
Date filed
3/16/2023, 08:19 PM
Previous filing
Aug 25, 2022
Next filing
Mar 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVTS Class A Common Stock Sale -$120M -18.6M -100% $6.46 0 Mar 14, 2023 Direct F1
holding NVTS Class A Common Stock 18.6M Mar 14, 2023 SiCPower, LLC F2
holding NVTS Class A Common Stock 6.24M Mar 14, 2023 In trust F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As part of an estate-planning transaction, the reporting person sold the reported securities to SiCPower, LLC, a Delaware limited liability company whose sole member is an irrevocable trust for which the reporting person acted as grantor. Approximately concurrently with the filing of this Form 4, the purchaser is filing a Form 3 as a new Section 16 filer, and to report its ownership of the reported securities.
F2 The reporting person is the sole manager of SiCPower, LLC and may be deemed to have indirect beneficial ownership of the reported securities held by SiCPower, LLC. The reporting person disclaims beneficial ownership of the reported securities, for purposes of Section 16 of the Exchange Act or otherwise.
F3 The reported securities are held in an irrevocable trust for which the reporting person acted as grantor. The reporting person disclaims beneficial ownership of the reported securities, for purposes of Section 16 of the Exchange Act or otherwise.