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Insider Trading Arrangements | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2023 shares | Sep. 30, 2023 shares
Trading Arrangements, by Individual |  |
Material Terms of Trading Arrangement |  | During the fiscal quarter ended September 30, 2023, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of our securities set forth in the table below.
|  |  |  |  |  | Type of Trading Arrangement |  |  |  |
Name and Position |  | Action |  | Adoption/ Termination Date |  | Rule 10b5-1* |  | Total Shares of Common Stock to be Sold |  | Expiration Date
Karna Nisewaner, CVP, General Counsel and Corporate Secretary |  | Adoption |  | 8/9/2023 |  | X |  | Up to 7,072 |  | 9/30/2024
Anirudh Devgan, President and Chief Executive Officer |  | Termination(1) |  | 9/13/2023 |  | X |  | Up to 109,381(2) |  | 5/30/2024
Anirudh Devgan, President and Chief Executive Officer |  | Adoption(1) |  | 9/13/2023 |  | X |  | Up to 203,474(3) |  | 12/31/2024
Alberto Sangiovanni-Vincentelli, Director |  | Adoption |  | 9/13/2023 |  | X |  | Up to 37,000 |  | 12/19/2024
* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
(1) Represents the modification, as described in Rule 10b5-1(c)(1)(iv) under the Exchange Act, of a Rule 10b5-1 trading plan adopted on June 14, 2023. As a result of this modification, the subject plan is deemed terminated and a new plan is deemed adopted as of the modification date. (2) Includes up to 109,381 shares subject to Performance Stock Awards previously granted to Dr. Devgan subject to vesting and release to Dr. Devgan during the period from August 25, 2023 to March 15, 2024 upon the satisfaction of the applicable total shareholder return hurdles and relative total shareholder return threshold. The actual number of shares that will vest in connection with these awards is not yet determinable. In addition, the actual number of shares that will be released to Dr. Devgan in connection with these awards and could have been sold under the Rule 10b5-1 trading arrangement would have been net of the number of shares withheld to satisfy tax withholding obligations arising from the vesting of such shares. (3) Includes up to 100,766 shares subject to Performance Stock Awards previously granted to Dr. Devgan subject to vesting and release to Dr. Devgan during the period from September 15, 2023 to March 15, 2024 upon the satisfaction of the applicable total shareholder return hurdles and relative total shareholder return threshold. The actual number of shares that will vest in connection with these awards is not yet determinable. In addition, the actual number of shares that will be released to Dr. Devgan in connection with these awards and sold under the Rule 10b5-1 trading arrangement will be net of the number of shares withheld to satisfy tax withholding obligations arising from the vesting of such shares and is not yet determinable.
Rule 10b5-1 Arrangement Adopted | true |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Karna Nisewaner [Member] |  |
Trading Arrangements, by Individual |  |
Name | Karna Nisewaner |
Title | CVP, General Counsel and Corporate Secretary |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | 8/9/2023 |
Arrangement Duration | 364 days |
Aggregate Available | 7,072 | 7,072
Anirudh Devgan [Member] |  |
Trading Arrangements, by Individual |  |
Name | Anirudh Devgan |
Title | President and Chief Executive Officer |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | 9/13/2023 |
Arrangement Duration | 351 days |
Aggregate Available | 203,474 | 203,474
Alberto Sangiovanni-Vincentelli [Member] |  |
Trading Arrangements, by Individual |  |
Name | Alberto Sangiovanni-Vincentelli |
Title | Director |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | 9/13/2023 |
Arrangement Duration | 463 days |
Aggregate Available | 37,000 | 37,000
Anirudh Devgan Trading Arrangement, 2023 Plan Termination [Member] | Anirudh Devgan [Member] |  |
Trading Arrangements, by Individual |  |
Name | Anirudh Devgan |
Title | President and Chief Executive Officer |
Rule 10b5-1 Arrangement Terminated | true |
Termination Date | 9/13/2023 |
Aggregate Available | 109,381 | 109,381
Anirudh Devgan Trading Arrangement, Performance Stock Awards [Member] | Anirudh Devgan [Member] |  |
Trading Arrangements, by Individual |  |
Aggregate Available | 100,766 | 100,766

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