Navitas Semiconductor settles earnout dispute with sponsor; forfeits 115,775 shares and releases 1,147,225 shares

Navitas Semiconductor Corp

Settlement resolves disputes over earnout shares from 2021 business combination; 421,000 Tranche II shares and 305,225 Tranche III shares released immediately.
Live Oak Sponsor forfeits 115,775 shares (27.5% of Tranche III) that were subject to dispute.
Mutual release of all claims related to earnout vesting disputes; parties agree to confidentiality and non-disparagement.
Navitas avoids potential litigation over triggers for earnout vesting.

item 1.01 item 9.01

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