Form 4 for NVTS Navitas Semiconductor Corp
Accepted 2022-03-14 00:00:00 ET · period of report 2022-03-11 · accession 0001628280-22-006113 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022-03-14 | 2022-03-11 | NVTS | Glickman Todd | SVP, Interim CFO, Treas | D - Sale to Iss | $8.23 | -66.8K | 853.4K | -7% | -$550.0K |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2022-03-11 | D | D | 66,829 | $8.23 | 853,355 | D | — | — | (F1) Reflects disposition to the issuer duly approved in accordance with Rule 16b-3(e) under the Securities Exchange Act of 1934 (17 CFR 240.16b-3(e)) and undertaken solely for the purpose of satisfying certain tax obligations of the reporting person, including tax obligations arising in connection with the reporting person's exercise of options to purchase shares of Navitas Semiconductor Limited ("Legacy Navitas") prior to Legacy Navitas entering into the business combination transaction with the issuer (then known as Live Oak Acquisition Corp. II), and as contemplated by that certain Lock-Up Agreement between the reporting person and the issuer dated as of May 6, 2021. (F2) The disposition was executed pursuant to an agreement entered into on March 4, 2022, which provided that (i) the execution date would be the 5th trading day after the transaction was duly authorized by the board of directors and (ii) the purchase price would be equal to the closing price of the reported securities on the Nasdaq Stock Market on the trading day immediately preceding the execution date. The transaction was duly authorized on March 6, 2022, hence the execution date was March 11, 2022 and the purchase price was equal to the closing price on March 10, 2022. (F3) Consists of (i) 705,611 shares and (ii) 147,744 restricted stock units which are partially vested and which will fully vest on September 15, 2024. |