Eugene Sheridan - Sep 11, 2023 Form 4 Insider Report for Navitas Semiconductor Corp (NVTS)

Role: President & CEO, Director
Signature: /s/ Paul D. Delva, attorney-in-fact
Stock symbol: NVTS
Transactions as of: Sep 11, 2023
Transactions value $: $378,963
Form type: 4
Date filed: 9/13/2023, 05:00 PM
Previous filing: Sep 8, 2023
Next filing: Oct 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NVTS	Class A Common Stock	Options Exercise	$379K	+1.99M	+199.04%	$0.19^*	3M	Sep 11, 2023	Direct	F1
holding	NVTS	Class A Common Stock						1.23M	Sep 11, 2023	Eugene and Melissa Sheridan Trust
holding	NVTS	Class A Common Stock						828K	Sep 11, 2023	GaNFast Trust
holding	NVTS	Class A Common Stock						800K	Sep 11, 2023	Lolas Trust	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NVTS	Option to purchase (right to buy)	Options Exercise	$0	-1.99M	-100%	$0.00^*	0	Sep 11, 2023	Class A Common Stock	1.99M	$0.19	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of (i) 2,084,627 shares of common stock and (ii) 912,000 shares of common stock underlying unvested restricted stock units ("RSUs") , which will vest in full on August 25, 2024, subject to the reporting person's continued employment, or earlier upon certain events. RSU vesting results in the delivery of one share of common stock per vested RSU following the vesting date, before taxes (including sales of settled shares to cover taxes if applicable) and subject to the issuer's equity incentive plan and applicable policies.
F2	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.

Content

Consists of (i) 2,084,627 shares of common stock and (ii) 912,000 shares of common stock underlying unvested restricted stock units ("RSUs") , which will vest in full on August 25, 2024, subject to the reporting person's continued employment, or earlier upon certain events. RSU vesting results in the delivery of one share of common stock per vested RSU following the vesting date, before taxes (including sales of settled shares to cover taxes if applicable) and subject to the issuer's equity incentive plan and applicable policies.

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.