Ranbir Singh - Mar 13, 2024 Form 4 Insider Report for Navitas Semiconductor Corp (NVTS)

Signature
/s/ Paul D. Delva, attorney-in-fact
Stock symbol
NVTS
Transactions as of
Mar 13, 2024
Transactions value $
-$52,451
Form type
4
Date filed
3/15/2024, 08:42 PM
Previous filing
Mar 20, 2023
Next filing
Dec 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVTS Class A Common Stock Award $0 +37.5K +1363.74% $0.00 40.3K Mar 13, 2024 Direct F1
transaction NVTS Class A Common Stock Sale -$52.5K -10.9K -27.12% $4.80 29.4K Mar 14, 2024 Direct F2, F3
holding NVTS Class A Common Stock 24.9M Mar 13, 2024 SiCPower, LLC F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Reflects settlement of shares underlying vested restricted stock units ("RSUs").
F2 Reflects sales made pursuant to the issuer's policy requiring "sales to cover" of the minimum number of shares as are necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award, including restricted stock units, and intending to satisfy the requirements of Rule 10b5-1(c) under the Securities Exchange Act of 1934. The reporting person does not exercise control over the timing of such sales.
F3 The reported securities were sold in multiple trades at prices ranging from $4.6400 to $4.8100, 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 The reporting person is the sole manager of SiCPower, LLC, a Delaware limited liability company (SiCPower"), and may be deemed to have indirect beneficial ownership of the securities held by SiCPower. The reporting person disclaims beneficial ownership of the reported securities, for purposes of Section 16 of the Exchange Act or otherwise. 6,237,558 of the reported shares held by SiCPower were previously held by an irrevocable trust for which the reporting person acted as grantor (the "Trust"). As reported on a Form 4 filed by SiCPower with the SEC on March 24, 2023, the Trust transferred all of its shares to SiCPower on March 23, 2023 in a private transaction which, as to the reporting person, was exempt from reporting under Section 16 of the Exchange Act pursuant to Rule 16a-13 thereunder.