07/02/2026 | Press release | Distributed by Public on 07/02/2026 15:33
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Performance Stock Units (Adjusted EBITDA) | (2) | (3) | (3) | Class A Common Stock | 20,935(4) | 20,935(4) | D | ||||||||
| Performance Stock Units (Adjusted EBITDA) | (2) | (5) | (5) | Class A Common Stock | 9,413(4) | 9,413(4) | D | ||||||||
| Performance Stock Units (Gross Profit) | (2) | (6) | (6) | Class A Common Stock | 48,848(4) | 48,848(4) | D | ||||||||
| Performance Stock Units (Gross Profit) | (2) | (7) | (7) | Class A Common Stock | 21,964(4) | 21,964(4) | D | ||||||||
| Performance Stock Units (Rule of 40) | (2) | (8) | (8) | Class A Common Stock | 154,236(4) | 154,236(4) | D | ||||||||
| Restricted Stock Units | (9) | (10) | (10) | Class A Common Stock | 37,319(11) | 37,319(11) | D | ||||||||
| Restricted Stock Units | (9) | (12) | (12) | Class A Common Stock | 73,214(11) | 73,214(11) | D | ||||||||
| Restricted Stock Units | (9) | (13) | (13) | Class A Common Stock(9) | 153,236(11) | 153,236(11) | D | ||||||||
| Restricted Stock Units | (9) | (14) | (14) | Class A Common Stock | 329,895(11) | 329,895(11) | D | ||||||||
| Stock Option (Right to Buy) | $34.88(15) | (16) | 03/14/2032 | Class A Common Stock | 203,690(15) | 203,690(15) | D | ||||||||
| Stock Option (Right to Buy) | $39.36(15) | (16) | 05/20/2032 | Class A Common Stock | 171,679(15) | 171,679(15) | D | ||||||||
| Stock Option (Right to Buy) | $16.28(15) | (16) | 03/14/2033 | Class A Common Stock | 140,171(15) | 140,171(15) | D | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Milotich Michael 180 GRAND AVENUE 6TH FLOOR OAKLAND, CA 94612 |
X | Chief Executive Officer | ||
| /s/ Tracy Foard, Attorney-in-Fact | 07/02/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | The number of shares beneficially owned reflects the 1-for-4 reverse stock split effected June 30, 2026 (the "Reverse Stock Split"). Cash was paid in lieu of any fractional shares resulting from the Reverse Stock Split. |
| (2) | Each performance stock unit ("PSU") is convertible into one share of Class A Common Stock. |
| (3) | Represents the number of shares which may be issued at target under the PSU, granted March 15, 2024, over a period of time following achievement of certain EBITDA targets as set forth in the applicable PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (4) | The number of shares subject to PSUs reflects the Reverse Stock Split. |
| (5) | Represents the number of shares which may be issued at target under the PSU, granted March 15, 2025, over a period of time following achievement of certain EBITDA targets as set forth in the applicable PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date |
| (6) | Represents the number of shares which may be issued at target under the PSU, granted March 15, 2024, over a period of time following achievement of certain profit targets as set forth in the applicable PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (7) | Represents the number of shares which may be issued at target under the PSU, granted March 15, 2025, over a period of time following achievement of certain profit targets as set forth in the applicable PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (8) | Represents the number of shares which may be issued at target under the PSU, granted March 16, 2026, over a period of time following achievement of certain gross profit and adjusted EBITDA targets as set forth in the applicable PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. At maximum achievement, 200% of the shares would vest. |
| (9) | Each restricted stock unit ("RSU") is convertible into one share of Class A Common Stock. |
| (10) | This RSU grant, originally granted March 15, 2024 for 149,278 RSUs (post Reverse Stock Split), of which 111,959 RSUs have vested, vested as to one-twelfth (1/12th) of the RSUs on June 1, 2024 and one-twelfth (1/12th) of the remaining RSUs vest quarterly on each September 1, December 1, March 1 and June 1 thereafter, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (11) | The number of shares subject to RSUs reflects the Reverse Stock Split. |
| (12) | This RSU grant, originally granted March 15, 2025 for 125,509 RSUs (post Reverse Stock Split), of which 52,295 RSUs (post Reverse Stock Split) have vested, vested as to one-twelfth (1/12th) of the RSUs on June 1, 2025 and one-twelfth (1/12th) of the remaining restricted stock units vest quarterly on each September 1, December 1, March 1 and June 1 thereafter, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (13) | This RSU grant, originally granted September 15, 2025 for 204,315 RSUs (post Reverse Stock Split), of which 51,079 RSUs (post Reverse Stock Split) have vested, vested as to one-twelfth (1/12th) of the RSUs on December 1, 2025 and one-twelfth (1/12th) of the remaining restricted stock units vest quarterly on each March 1 and June 1, September 1 and December 1 thereafter, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (14) | This RSU grant, originally granted March 16, 2026 for 359,886 RSUs (post Reverse Stock Split), of which 29,991 RSUs (post Reverse Stock Split) have vested, vested as to one-twelfth (1/12th) of the RSUs on June 1, 2026 and one-twelfth (1/12th) of the remaining restricted stock units vest quarterly on each September 1, December 1, March 1 and June 1 thereafter, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (15) | The per share exercise price and number of shares subject to the option reflect the Reverse Stock Split. |
| (16) | All of the shares subject to this option are fully vested and exercisable as of the date hereof. |