07/02/2026 | Press release | Distributed by Public on 07/02/2026 15:31
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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 | ||||||||
| Restricted Stock Units | (2) | (3) | (3) | Class A Common Stock | 13,054(4) | 13,054(4) | D | ||||||||
| Stock Option (Right to Buy) | $41.92(5) | (6) | 01/21/2031 | Class B Common Stock(7) | 70,250(5) | 70,250(5) | D | ||||||||
| Stock Option (Right to Buy) | $85.96(5) | (6) | 04/06/2031 | Class B Common Stock(7) | 75,000(5) | 75,000(5) | D | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Cummings Martha 180 GRAND AVENUE 6TH FLOOR OAKLAND, CA 94612 |
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| /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 restricted stock unit is convertible into one share of Class A Common Stock. |
| (3) | This RSU grant, originally granted June 10, 2026 for 13,054 RSUs (post Reverse Stock Split), will vest in full on the earlier of (i) June 10, 2027 or (ii) the Issuer's next annual meeting of stockholders; provided, however, that all vesting will cease if the Reporting Person ceases to provide services to the Issuer, unless the Issuer's Board of Directors determines otherwise prior to the cessation of such services. |
| (4) | The number of shares subject to RSUs reflects the Reverse Stock Split. |
| (5) | The per share exercise price and number of shares subject to the option reflect the Reverse Stock Split. |
| (6) | All of the shares subject to this option are fully vested and exercisable as of the date hereof. |
| (7) | Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and upon the occurrence of other events set forth in the Issuer's Certificate of Incorporation. |