11/12/2025 | Press release | Distributed by Public on 11/12/2025 19:03
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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 | ||||||||
| Class V Common Stock | (10) | (10) | (10) | Class A Common Stock | 8,377,623(11) | 8,377,623 | I | Held by Andrew Dudum 2015 Trust Dated July 2, 2015 | |||||||
| Class V Common Stock | (10) | (10) | (10) | Class A Common Stock | 0 (11) | 0 | I | Held by Trustee of the AD 2023 GRAT dated 9-5-2023 | |||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Dudum Andrew 2269 CHESTNUT STREET, #523 SAN FRANCISCO, CA 94123 |
X | X | Chief Executive Officer | |
| /s/ Kimberly Mather, Attorney-in-Fact for Andrew Dudum | 11/12/2025 | |
| **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) | This amount reflects an annuity payment-in-kind of 38,068 shares of Class A Common Stock from the AD 2022 GRAT 2 dated 9-7-2022 to the Andrew Dudum 2015 Trust dated July 2, 2015 . |
| (2) | This amount reflects an annuity payment-in-kind of 59,234 shares of Class A Common Stock from the AD 2021 GRAT 2 dated 11-1-2021 to the Andrew Dudum 2015 Trust dated July 2, 2015 . |
| (3) | These shares represent a gift to the Dudum Legacy 2021 Trust from the AD 2021 GRAT 2 dated 11-1-2021. |
| (4) | This transaction represents a pro rata distribution, for no consideration, by the trust to its beneficiaries, of an aggregate of 260,000 shares of Class A Common Stock for bona fide estate planning purposes. |
| (5) | This amount reflects an annuity payment-in-kind of 236,935 shares of Class A Common Stock from the AD 2021 GRAT dated 11-1-2021 to the Andrew Dudum 2015 Trust dated July 2, 2015. |
| (6) | These shares represent a gift to the Dudum Family 2021 Trust from the AD 2021 GRAT dated 11-1-2021. |
| (7) | This amount reflects annuity payments-in-kind to the Andrew Dudum 2015 Trust dated July 2, 2015 in the following amounts of Class A Common Stock: 1) 236,935 shares from the AD 2021 GRAT dated 11-1-2021; 2) 59,234 shares from the AD 2021 GRAT 2 dated 11-1-2021; 3) 38,068 shares from the AD 2022 GRAT 2 dated 9-7-2022; and 4) 216,266 shares from the AD GRAT 2023 dated 9-5-2023. The balance also includes a transfer of 586,139 Class A Shares to the AD GRAT 2023 dated 9-5-2023. |
| (8) | This amount reflects 1) an annuity payment-in-kind of 216,266 shares of Class A Common Stock from the AD 2023 GRAT dated 9-5-2023 to the Andrew Dudum 2015 Trust dated July 2, 2015 and 2) a transfer of 586,139 Class A Common Stock to the AD GRAT 2023 dated 9-5-2023 from the Andrew Dudum 2015 Trust dated July 2, 2015. |
| (9) | These shares represent a gift to the Dudum Family 2021 Trust from the AD 2023 GRAT dated 9-5-2023. |
| (10) | Class V Common Stock is convertible into an equal number of fully paid and nonassessable shares of Class A Common Stock upon certain events. |
| (11) | This amount reflects a transfer of 586,139 shares of Class V Common Stock from the AD 2023 GRAT dated 9-1-2023 to the Andrew Dudum 2015 Trust dated July 2, 2015. The reporting person is deemed to have sole voting and disposition power over the securities held by the AD 2023 GRAT dated 9-1-2023 and the Andrew Dudum 2015 Trust dated July 2, 2015. |