Gary Kent Wunderlich JR - Nov 22, 2024 Form 4 Insider Report for Navitas Semiconductor Corp (NVTS)

Role
Director
Signature
/s/ Paul D. Delva, attorney-in-fact
Stock symbol
NVTS
Transactions as of
Nov 22, 2024
Transactions value $
-$35,810
Form type
4
Date filed
11/26/2024, 04:39 PM
Previous filing
Jun 10, 2024
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 Sale -$35.8K -15K -26.15% $2.39 42.4K Nov 22, 2024 Live Oak Merchant Partners, LLC F1, F2, F3
holding NVTS Class A Common Stock 1.26M Nov 22, 2024 Live Oak Sponsor Partners II, LLC F4, F5
holding NVTS Class A Common Stock 470K Nov 22, 2024 Direct F6, F7
holding NVTS Class A Common Stock 157K Nov 22, 2024 Individual retirement account F8
holding NVTS Class A Common Stock 2.61K Nov 22, 2024 Trust A F9
holding NVTS Class A Common Stock 2.61K Nov 22, 2024 Trust B F9
holding NVTS Class A Common Stock 2.61K Nov 22, 2024 Trust C F9
holding NVTS Class A Common Stock 2.61K Nov 22, 2024 Trust D F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported shares were previously held by Live Oak Sponsor Partners II, LLC ("Live Oak Sponsor") and previously reported as beneficially owned indirectly by the reporting person by virtue of his pecuniary interest therein. As described in footnote 4, the reported shares were later distributed by Live Oak Sponsor to its members, including Live Oak Merchant Partners, LLC ("Live Oak Merchant"), in a transaction which was not reportable under Section 16 of the Securities Exchange Act of 1934 ("Exchange Act").
F2 The reported securities were sold in multiple trades at prices ranging from $2.380 to $2.395, 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 reporting person is a managing member of Live Oak Merchant. The reporting person disclaims beneficial ownership of the reported securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein.
F4 On or about October 19, 2024, Live Oak Sponsor transferred an aggregate of 1,684,000 shares of the Issuer's common stock to its members, including but not limited to the transfers described in footnotes 1, 7 and 8, in a transaction which was not reportable under Section 16 of the Exchange Act.
F5 The reporting person is a managing member of Live Oak Sponsor. The reporting person disclaims beneficial ownership of the reported securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein.
F6 Consists of (i) 438,764 shares of common stock held directly and (ii) 31,460 shares underlying unvested restricted stock units ("RSUs") subject to vesting on the date of the issuer's 2025 annual stockholders' meeting. RSU vesting is subject to the reporting person's continued service on the issuer's board of directors on the vesting date. RSUs are granted under the issuer's non-employee director compensation program and 2021 Equity Incentive Plan (the "Plan"), and represent the reporting person's right to receive one share of Class A Common Stock following the vesting date in accordance with the Plan and subject to applicable issuer policies.
F7 Shares held directly include 115,965 shares which were previously held by Live Oak Sponsor and previously reported as beneficially owned indirectly by the reporting person by virtue of his pecuniary interest therein. As described in footnote 4, Live Oak Sponsor subsequently distributed shares to its members, including but not limited to the reporting person, in a transaction which was not reportable under Section 16 of the Exchange Act.
F8 Includes 43,303 shares of common stock which were previously held by Live Oak Sponsor and previously reported as beneficially owned indirectly by the reporting person by virtue of his pecuniary interest therein. As described in footnote 4, Live Oak Sponsor subsequently distributed shares to its members, including but not limited to a retirement account of the reporting person, in a transaction which was not reportable under Section 16 of the Exchange Act.
F9 Reported shares are held in separate trusts for the benefit of the reporting person's immediate family members.