0001821769-24-000045.txt : 20240315
0001821769-24-000045.hdr.sgml : 20240315
20240315204149
ACCESSION NUMBER: 0001821769-24-000045
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240313
FILED AS OF DATE: 20240315
DATE AS OF CHANGE: 20240315
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Sheridan Eugene
CENTRAL INDEX KEY: 0001888341
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39755
FILM NUMBER: 24756692
MAIL ADDRESS:
STREET 1: C/O NAVITAS SEMICONDUCTOR CORPORATION
STREET 2: 3520 CHALLENGER STREET
CITY: TORRANCE
STATE: CA
ZIP: 90503-1640
FORMER NAME:
FORMER CONFORMED NAME: Sheridan Gene
DATE OF NAME CHANGE: 20211015
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Navitas Semiconductor Corp
CENTRAL INDEX KEY: 0001821769
STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674]
ORGANIZATION NAME: 04 Manufacturing
IRS NUMBER: 852560226
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 3520 CHALLENGER ST.
CITY: TORRANCE
STATE: CA
ZIP: 90503
BUSINESS PHONE: 844-654-2642
MAIL ADDRESS:
STREET 1: 3520 CHALLENGER ST.
CITY: TORRANCE
STATE: CA
ZIP: 90503
FORMER COMPANY:
FORMER CONFORMED NAME: Live Oak Acquisition Corp II
DATE OF NAME CHANGE: 20200819
4
1
wk-form4_1710549696.xml
FORM 4
X0508
4
2024-03-13
0
0001821769
Navitas Semiconductor Corp
NVTS
0001888341
Sheridan Eugene
C/O NAVITAS SEMICONDUCTOR CORPORATION
3520 CHALLENGER STREET
TORRANCE
CA
90503-1640
1
1
0
0
President & CEO
1
Class A Common Stock
2024-03-13
4
A
0
98435
0
A
3100062
D
Class A Common Stock
2024-03-14
4
S
0
38431
4.801
D
3061631
D
Class A Common Stock
1226044
I
Eugene and Melissa Sheridan Trust
Class A Common Stock
800000
I
Lolas Trust
Class A Common Stock
761332
I
GaNFast Trust
Reflects settlement of shares underlying vested restricted stock units ("RSUs").
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.
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.
Consists of (i) 2,149,631 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 sales of settled shares to cover withholding taxes incurred by the reporting person upon settlement, if applicable, and subject to the issuer's equity incentive plan and applicable policies. Reported shares include 5,000 shares purchased under the issuer's Employee Stock Purchase Plan, which purchase was exempt from Section 16 of the Exchange Act pursuant to Rule 16a-3(f)(1)(i)(B) and Rule 16b-3(c) thereunder.
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.
/s/ Paul D. Delva, attorney-in-fact
2024-03-15