Mayfield Xv, A Cayman Islands Exempted Limited Partnership - Jul 14, 2023 Form 4 Insider Report for Grove Collaborative Holdings, Inc. (GROV)

Role
10%+ Owner
Signature
MAYFIELD XV, a Cayman Islands Exempted Limited Partnership, By: MAYFIELD XV MANAGEMENT (EGP), L.P., its General Partner, By: MAYFIELD XV MANAGEMENT (UGP), LTD., its General Partner, By: /s/ Paul Kohli, Authorized Signatory
Stock symbol
GROV
Transactions as of
Jul 14, 2023
Transactions value $
-$1,488,000
Form type
4
Date filed
7/17/2023, 04:22 PM
Previous filing
Jun 27, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GROV Class A Common Stock Conversion of derivative security +2.44M 2.44M Jul 14, 2023 Mayfield XV, a Cayman Islands Exempted Limited Partnership F1, F2
transaction GROV Class A Common Stock Conversion of derivative security +432K +1080.74% 472K Jul 14, 2023 Mayfield Select, a Cayman Islands Exempted Limited Partnership F1, F3
transaction GROV Class A Common Stock Sale -$1.25M -780K -31.92% $1.60 1.66M Jul 14, 2023 Mayfield XV, a Cayman Islands Exempted Limited Partnership F2
transaction GROV Class A Common Stock Sale -$240K -150K -31.76% $1.60 322K Jul 14, 2023 Mayfield Select, a Cayman Islands Exempted Limited Partnership F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GROV Class B Common Stock Conversion of derivative security $0 -2.44M -90.99% $0.00 242K Jul 14, 2023 Class A Common Stock 2.44M Mayfield XV, a Cayman Islands Exempted Limited Partnership F1, F4
transaction GROV Class B Common Stock Conversion of derivative security $0 -432K -90.99% $0.00 42.8K Jul 14, 2023 Class A Common Stock 432K Mayfield Select, a Cayman Islands Exempted Limited Partnership F1, F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Mayfield Xv, A Cayman Islands Exempted Limited Partnership is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the reporting person's election and has no expiration date.
F2 Mayfield XV Management (UGP), Ltd., a Cayman Islands Exempted Company (MF XV UGP), is the general partner of Mayfield XV Management (EGP), L.P., a Cayman Islands Exempted Limited Partnership (MF XV EGP), which is the general partner of Mayfield XV, a Cayman Islands Exempted Limited Partnership (MF XV). Rajeev Batra, Navin Chaddha, and Urshit Parikh, the directors of MF XV UGP, may be deemed to share beneficial ownership of the shares owned by MF XV, but each of the individuals disclaims such beneficial ownership.
F3 Mayfield Select Management (UGP), Ltd., a Cayman Islands Exempted Company (MF Select UGP), is the general partner of Mayfield Select Management (EGP), L.P., a Cayman Islands Exempted Limited Partnership (MF Select EGP), which is the general partner of Mayfield Select, a Cayman Islands Exempted Limited Partnership (MF Select). Messrs. Batra, Chaddha, and Parikh, the directors of MF Select UGP, may be deemed to share beneficial ownership of the shares owned by MF Select, but each of the individuals disclaims such beneficial ownership.
F4 Represents restricted shares of Class B Common Stock that will vest in two substantially equal installments if the daily volume weighted average price ("VWAP") per share of the Issuer's Class A Common Stock for any 20 trading days within any 30-trading-day period prior to June 16, 2032 equals or exceeds the following thresholds: $62.50 and $75.00. Includes 23,287 shares of Class B Common Stock received pursuant to a post-closing earnout adjustment exempt from reporting pursuant to Rule 16a-9.
F5 Represents restricted shares of Class B Common Stock that will vest in two substantially equal installments if the daily volume weighted average price ("VWAP") per share of the Issuer's Class A Common Stock for any 20 trading days within any 30-trading-day period prior to June 16, 2032 equals or exceeds the following thresholds: $62.50 and $75.00. Includes 4,119 shares of Class B Common Stock received pursuant to a post-closing earnout adjustment exempt from reporting pursuant to Rule 16a-9.

Remarks:

All share counts reported herein have been adjusted to reflect the 1-for-5 reverse stock split effected by the Issuer on June 5, 2023.