09/17/2025 | Press release | Distributed by Public on 09/17/2025 15:09
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) |
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 | (1) | 09/15/2025 | M | 843 | (2) | (2) | Class A Common Stock | 843 | $ 0 | 1,685 | D | ||||
Restricted Stock Units | (1) | (3) | (3) | Class A Common Stock | 2,487 | 2,487 | D | ||||||||
Class B Common Stock | (4) | (4) | (4) | Class A Common Stock | 999,987 | 999,987 | I | By Trust | |||||||
Class B Common Stock | (4) | (4) | (4) | Class A Common Stock | 88,776 | 88,776 | I | By Trust | |||||||
Class B Common Stock | (4) | (4) | (4) | Class A Common Stock | 157,668 | 157,668 | I | By Trust | |||||||
Employee Stock Option (Right to Buy) | $39.21 | (5) | 03/21/2028 | Class A Common Stock | 114,000 | 114,000 | D | ||||||||
Employee Stock Option (Right to Buy) | $82.16 | (5) | 03/24/2029 | Class A Common Stock | 71,547 | 71,547 | D | ||||||||
Employee Stock Option (Right to Buy) | $142.47 | (5) | 04/14/2030 | Class A Common Stock | 41,673 | 41,673 | D | ||||||||
Employee Stock Option (Right to Buy) | $274.96 | (5) | 04/21/2031 | Class A Common Stock | 13,263 | 13,263 | D | ||||||||
Employee Stock Option (Right to Buy) | $274.96 | (5) | 04/21/2031 | Class A Common Stock | 26,527 | 26,527 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Kerrest Jacques Frederic 100 FIRST ST, SUITE 600 SAN FRANCISCO, CA 94105 |
X |
/s/ Larissa Schwartz, attorney-in-fact of the Reporting Person | 09/17/2025 | |
**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) | Each Restricted Stock Unit ("RSU") represents the right to receive one share of the Issuer's Class A Common Stock. |
(2) | 25% of the shares underlying the RSU vested on March 15, 2022, and the remaining shares underlying the RSU shall vest in 12 equal quarterly installments thereafter, subject to the Reporting Person's continuous service with the Issuer on each such date, and subject to tolling from November 1, 2022 through October 31, 2023 per a Sabbatical Agreement between the Reporting Person and the Issuer. |
(3) | The RSUs vest in full on the earlier of June 24, 2026 or the date immediately prior to the Issuer's next regular annual stockholder meeting, subject to the Reporting Person's continued service to the Issuer through such vesting date. |
(4) | Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date. |
(5) | The shares subject to the option are fully vested and exercisable by the Reporting Person. |