Meyer Malka - 31 Oct 2024 Form 4 Insider Report for Root, Inc. (ROOT)

Footnote F1

Represents 50,959 shares converted by Ribbit Capital IV, L.P. ("Fund IV"), for itself and as nominee for Ribbit Founder Fund IV, L.P. ("FF IV"), from Class B Common Stock into Class A Common Stock on a one-for-one basis for no consideration. Following the reported transaction, 50,959 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog Capital, L.P. ("Bullfrog"), for itself and as nominee for Bullfrog Founder Fund, L.P. (" Bullfrog FF").

Footnote F2

Shares are owned of record by (i) Fund IV, for itself and as nominee for FF IV, (ii) Bullfrog, for itself and as nominee for Bullfrog FF, and (iii) RT-E Ribbit Opportunity IV, LLC ("Ribbit RT-E"). Meyer Malka is the sole director of Ribbit Capital GP IV, Ltd., which is the general partner of the general partner of Fund IV and FF IV and the general partner of the managing member of RT-E, and is the sole director of Bullfrog Capital GP, Ltd., which is the general partner of the general partner of each of Bullfrog and Bullfrog FF. Each of the Reporting Persons disclaims beneficial ownership of such shares for purposes of Section 16 except to the extent of his or its pecuniary interest therein, if any, and this report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner of such shares for purposes of Section 16 or for any other purpose.

Footnote F3

Represents 3,109 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $70.12 to $70.90, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 47,850 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F4

Represents 5,381 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $71.475 to $72.035, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 42,469 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F5

Represents 1,700 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $72.51 to $74.225, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 40,769 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F6

Represents 8,607 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $74.53 to $75.465, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 32,162 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F7

Represents 2,892 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $75.55 to $76.49, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 29,270 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F8

Represents 7,653 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $76.59 to $77.54, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 21,617 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F9

Represents 300 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. Following the reported transaction, 21,317 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F10

Represents 3,323 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $90.00 to $90.75inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 17,994 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F11

Represents 14,454 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $100.00 to $100.75, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 3,540 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F12

Represents 2,517 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $101.00 to $101.67, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 1,023 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F13

Represents 823 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $102.34 to $102.95, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 200 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F14

Represents 200 shares of Class A Common Stock sold by Fund IV, for itself and as nominee for FF IV. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $103.37 to $103.50, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected. Following the reported transaction, 0 shares of Class A Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 43,107 shares of Class A Common Stock are owned by Bullfrog, for itself and as nominee for Bullfrog FF.

Footnote F15

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.

Footnote F16

Following the reported transaction, 1,573,937 shares of Class B Common Stock are owned by Fund IV, for itself and as nominee for FF IV, and 235,824 shares of Class B Common Stock are held by Ribbit RT-E.