Why Indie Semiconductor Stock Dived by Nearly 9% Today [Yahoo! Finance]
indie Semiconductor, Inc. - Class A (INDI)
Company Research
Source: Yahoo! Finance
On news that the assisted-driving chip developer's top executives were subject to severe pay restrictions, investors aggressively traded out of the company. Its stock closed the day almost 9% lower in price, a far steeper fall than the 2.1% slide of the bellwether S&P 500 index. Slimmer paychecks for execs Indie disclosed in a regulatory filing that several of its C-suite denizens and founders would take new, microscopic base pay packages. CFO Thomas Schiller and two unnamed co-founders are now to receive a base salary of $1 per year, a move the company said was "at the initiation and request" of those individuals. The base salary for Raja Bal, the chief accounting officer who is also listed as the acting CFO, and unnamed fellow top managers will receive a less drastic cut. Their annual salaries are to be decreased by 20%, although this is temporary and only in force from this past Sept. 1 through March 31, 2025. Base salaries are the foundations of an executive's pay. Almost
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INDI
News
- indie Semiconductor Announces New Employee Inducement GrantsBusiness Wire
- indie Semiconductor, Inc. (NASDAQ: INDI) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $12.00 price target on the stock.MarketBeat
- indie Semiconductor Extends In-cabin User Experience Portfolio With Addition of Qi2 MPP-compliant Wireless Charging SolutionBusiness Wire
- indie Semiconductor to Participate at Upcoming Investor EventsBusiness Wire
- indie Semiconductor, Inc. (NASDAQ: INDI) had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $9.00 to $7.00. They now have a "buy" rating on the stock.MarketBeat
INDI
Earnings
- 8/8/24 - Beat
INDI
Sec Filings
- 9/4/24 - Form 4
- 9/4/24 - Form 4
- 9/4/24 - Form 4
- INDI's page on the SEC website