indie Semiconductor, Inc.
For the period ended Dec 31, 2024. Filed Apr 21, 2025.
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Dec 31, 2024 · Filed Apr 21, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
(Amendment No. )
Filed by the Registrantx
Filed by a Party other than the Registranto
Check the appropriate box:
o Preliminary Proxy Statement
o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
x Definitive Proxy Statement
o Definitive Additional Materials
o Soliciting Material Pursuant to § 240.14a-12
indie Semiconductor, Inc.
(Name of Registrant as Specified in its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
x No fee required.
o Fee paid previously with preliminary materials.
o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
April 21, 2025
Dear Stockholder:
On behalf of the Board of Directors, I cordially invite you to attend the 2025 Annual Meeting of Stockholders of indie Semiconductor, Inc., which will be held virtually on June 4, 2025, commencing at 8:00 a.m., Pacific Time. The matters to be acted upon at the meeting are described in the attached Notice of Annual Meeting of Stockholders and Proxy Statement.
In order to attend or vote at the Annual Meeting, you must register in advance athttps://web.viewproxy.com/indi/2025 prior to the deadline of June 2, 2025 at 5 p.m., Pacific Time. Upon completing your registration, you will receive further instructions via email, including your unique link and event password that will allow you access to the meeting, to submit questions during the meeting and to vote at the meeting. You will not be able to attend the Annual Meeting in person. Questions related to the Annual Meeting or voting matters can be submitted during the registration process. You will not be able to attend the Annual Meeting in person.
All of our stockholders as of the record date, April 7, 2025, are entitled to attend and vote at the Annual Meeting by following the registration process described above. If you were a beneficial holder as of the record date (i.e. you hold your shares in “street name” through an intermediary, such as a bank or broker), you must obtain a legal proxy, executed in your favor, from the holder of record in order to vote at the Annual Meeting.
Your vote on the business to be considered at the meeting is important, regardless of the number of shares you own. Whether or not you plan to attend the meeting, please submit your proxy or voting instructions using one of the voting methods described in the accompanying Proxy Statement so that your shares may be represented at the meeting. Submitting your proxy or voting instructions by any of these methods will not affect your right to attend the virtual meeting and for stockholders of record to vote your shares at the virtual meeting if you wish to do so.
Sincerely yours,
David Aldrich
Chairman of the Board
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON JUNE 4, 2025
Notice is hereby given that the Annual Meeting of Stockholders of indie Semiconductor, Inc., a Delaware corporation, will be held virtually on June 4, 2025, at 8:00 a.m., Pacific Time. The meeting can be accessed via the link provided following registration where you will be able to listen to the meeting live, submit questions and vote online. If you plan to attend the virtual Annual Meeting, please see the instructions on page 3 of the attached Proxy Statement. You will be required to register in advance athttps://web.viewproxy.com/indi/2025 prior to the deadline of June 2, 2025 at 5 p.m., Pacific Time in order to attend the meeting. There will be no physical location for stockholders to attend. Stockholders only may participate by logging in with the link provided following registration. We believe that a virtual Annual Meeting provides greater access to those who want to attend and therefore have chosen this format over an in-person meeting.
At the Annual Meeting, stockholders will be asked to consider and vote upon the following proposals:
To elect three Class I directors to our Board of Directors for terms expiring at the 2028 Annual Meeting of Stockholders and until their respective successors are elected and qualified;
To approve, on an advisory basis, the compensation of our named executive officers, as disclosed in this Proxy Statement;
To approve an amendment to our Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock"), from 400,000,000 to 600,000,000;
To approve an amendment to the 2021 Omnibus Equity Incentive Plan (the “2021 Plan”) to increase the number of shares of Class A Common Stock reserved for issuance thereunder by 17,000,000 shares;
To ratify the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025; and
To transact such other business as may properly come before the meeting or any adjournment or postponement thereof.
Our Board of Directors recommends that you vote “FOR” each of the nominees for Class I directors (Proposal One); “FOR” the approval, on an advisory basis, of the compensation of our named executive officers as disclosed in this Proxy Statement (Proposal Two); “FOR” the amendment to the Amended and Restated Certificate of Incorporation (Proposal Three); “FOR” the amendment to the 2021 Plan (Proposal Four); and “FOR” ratification of the appointment of the independent registered public accounting firm for fiscal 2025 (Proposal Five).
This year we are using the internet as our primary means of furnishing proxy materials to stockholders. Accordingly, most stockholders will not receive printed copies of our proxy materials. We are instead mailing a Notice of Internet Availability of Proxy Materials with instructions for accessing the proxy materials and voting via the internet (the “Notice”). This delivery method allows us to conserve natural resources and reduce the cost of delivery while also meeting our obligations to you, our stockholders, to provide information relevant to your continued investment in indie. If you received the Notice by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions in the Notice for requesting those materials. We encourage you to review the proxy materials and vote your shares.
Our Board of Directors has fixed the close of business on April 7, 2025 as the record date for determining the stockholders entitled to notice of, and to vote at, the Annual Meeting or any adjournments. For 10 days prior to the Annual Meeting, a list of such stockholders will be available for inspection by any stockholder at our principal executive offices during normal business hours.
If you were a beneficial holder as of April 7, 2025 (i.e. you hold your shares in “street name” through an intermediary, such as a bank or broker), you must obtain a legal proxy, executed in your favor, from the holder of record in order to vote at the Annual Meeting, which you may upload during the registration process.
We encourage you to access the Annual Meeting before the start time of 8:00 a.m., Pacific Time, on June 4, 2025. Please allow ample time for online check-in, which will begin at 7:45 a.m., Pacific Time, on June 4, 2025.
Whether or not you plan to attend the virtual Annual Meeting, our Board of Directors urges you to read the attached Proxy Statement and submit a proxy or voting instructions for your shares via the internet or by telephone, or complete, date, sign and return your proxy card or voting instruction form in the pre-addressed, postage-paid envelope provided. We encourage you to submit your proxy or voting instructions via the internet, which is convenient, helps reduce the environmental impact of our Annual Meeting and saves us significant postage and processing costs. For instructions on how to submit your proxy or voting instructions, please refer to “General Information - Voting Methods” beginning on page 4 of the attached Proxy Statement.
By Order of the Board of Directors,
Audrey Wong
Secretary
Aliso Viejo, California
April 21, 2025
TABLE OFCONTENTS
| PAGE | |
|---|---|
| GENERAL INFORMATION | 2 |
| DIRECTORS AND CORPORATE GOVERNANCE | 7 |
| CORPORATE GOVERNANCE | 7 |
| DIRECTOR COMPENSATION | 13 |
| EXECUTIVE OFFICERS OF INDIE | 14 |
| EXECUTIVE COMPENSATION | 15 |
| COMPENSATION DISCUSSION AND ANALYSIS | 15 |
| COMPENSATION COMMITTEE REPORT | 33 |
| SUMMARY COMPENSATION TABLE | 34 |
| GRANTS OF PLAN-BASED AWARDS | 36 |
| OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END | 37 |
| OPTION EXERCISES AND STOCK VESTED | 39 |
| POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL | 40 |
| PAY VS. PERFORMANCE | 44 |
| CEO PAY RATIO | 47 |
| RELATED PARTY TRANSACTIONS | 49 |
| EQUITY COMPENSATION PLAN INFORMATION | 54 |
| SECURITY OWNERSHIP OF BENEFICIAL OWNERS AND MANAGEMENT | 55 |
| REPORT OF AUDIT COMMITTEE | 57 |
| AUDITOR FEES | 58 |
| PROPOSALS REQUIRING YOUR VOTE | 58 |
| PROPOSAL ONE: ELECTION OF DIRECTORS | 58 |
| PROPOSAL TWO: ADVISORY VOTE ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS | 62 |
| PROPOSAL THREE: APPROVAL OF AMENDMENT TO THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION | 63 |
| PROPOSAL FOUR: APPROVAL OF AMENDMENT TO 2021 OMNIBUS EQUITY INCENTIVE PLAN | 66 |
| PROPOSAL FIVE: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 72 |
| STOCKHOLDER PROPOSALS | 73 |
| OTHER MATTERS | 74 |
| ANNEX A AMENDMENT TO THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION | A-1 |
| ANNEX B AMENDMENT TO THE 2021 OMNIBUS EQUITY INCENTIVE PLAN | B-1 |
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