---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-039017"
form_type: "8-K"
ticker: "INDI"
cik: "0001841925"
company_name: "indie Semiconductor, Inc."
filed_at: "2024-09-03T23:59:59+00:00"
generated_at: "2026-05-31T06:40:28.976634+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Indie Semi CEO & founders take $1 salary; workforce cut by ~50

## Summary
- CEO McClymont, President Aoki, two other founders, CFO Schiller reduce salary to $1/year effective Sept 1, 2024 through Mar 31, 2025.
- Acting CFO Raja Bal and other execs take 20% base salary reduction over the same period.
- Company laid off ~50 employees in late August 2024 to improve operational efficiencies.
- Severance and change-of-control benefits will be based on pre-reduction base salaries.

## SEC filing metadata
- accession: 0001628280-24-039017
- form_type: 8-K
- ticker: INDI
- cik: 0001841925
- company_name: indie Semiconductor, Inc.
- filed_at: 2024-09-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841925/000162828024039017/0001628280-24-039017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841925/000162828024039017/indi-20240829.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-039017
- JSON: https://secwatch.observer/filing/0001628280-24-039017.json
- Plain text: https://secwatch.observer/filing/0001628280-24-039017.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.