MV Management XI, L.L.C. - Jul 30, 2021 Form 4 Insider Report for Poshmark, Inc. (POSH)

Role
10%+ Owner
Signature
By: /s/ Venky Ganesan, Managing Member
Stock symbol
POSH
Transactions as of
Jul 30, 2021
Transactions value $
-$4,961,703
Form type
4
Date filed
8/3/2021, 09:25 PM
Next filing
Aug 6, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction POSH Class A Common Stock Conversion of derivative security $0 +186K $0.00 186K Jul 30, 2021 See footnote F1
transaction POSH Class A Common Stock Conversion of derivative security $0 +4.83M $0.00 4.83M Jul 30, 2021 See footnote F2
transaction POSH Class A Common Stock Conversion of derivative security $0 +289K $0.00 289K Jul 30, 2021 See footnote F3
transaction POSH Class A Common Stock Conversion of derivative security $0 +4.71K $0.00 4.71K Jul 30, 2021 See footnote F4
transaction POSH Class A Common Stock Other $0 -186K -100% $0.00* 0 Jul 30, 2021 See footnote F1, F5
transaction POSH Class A Common Stock Other $0 -4.83M -100% $0.00* 0 Jul 30, 2021 See footnote F2, F6
transaction POSH Class A Common Stock Other $0 -693K -50% $0.00 693K Jul 30, 2021 MV Management XI, L.L.C. F7
transaction POSH Class A Common Stock Other $0 -693K -100% $0.00* 0 Jul 30, 2021 MV Management XI, L.L.C. F8
transaction POSH Class A Common Stock Sale -$1.05M -28.6K -9.87% $36.71 261K Aug 2, 2021 See footnote F3, F9
transaction POSH Class A Common Stock Sale -$17K -463 -9.84% $36.71 4.24K Aug 2, 2021 See footnote F4, F9
transaction POSH Class A Common Stock Sale -$905K -24K -9.2% $37.71 237K Aug 2, 2021 See footnote F3, F10
transaction POSH Class A Common Stock Sale -$14.8K -392 -9.24% $37.71 3.85K Aug 2, 2021 See footnote F4, F10
transaction POSH Class A Common Stock Sale -$789K -20.5K -8.65% $38.51 216K Aug 2, 2021 See footnote F3, F11
transaction POSH Class A Common Stock Sale -$12.8K -333 -8.65% $38.51 3.52K Aug 2, 2021 See footnote F4, F11
transaction POSH Class A Common Stock Sale -$3.89K -99 -0.05% $39.33 216K Aug 2, 2021 See footnote F3, F12
transaction POSH Class A Common Stock Sale -$39 -1 -0.03% $39.33 3.52K Aug 2, 2021 See footnote F4, F12
transaction POSH Class A Common Stock Sale -$1.78M -48.7K -22.54% $36.50 168K Aug 3, 2021 See footnote F3, F13
transaction POSH Class A Common Stock Sale -$28.9K -793 -22.55% $36.50 2.72K Aug 3, 2021 See footnote F4, F13
transaction POSH Class A Common Stock Sale -$357K -9.62K -5.74% $37.12 158K Aug 3, 2021 See footnote F3, F14
transaction POSH Class A Common Stock Sale -$5.79K -156 -5.73% $37.12 2.57K Aug 3, 2021 See footnote F4, F14

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 POSH Class B Common Stock Conversion of derivative security $0 -186K -50% $0.00 186K Jul 30, 2021 Class A Common Stock 186K $0.00 See footnote F1, F15
transaction POSH Class B Common Stock Conversion of derivative security $0 -4.83M -50% $0.00 4.83M Jul 30, 2021 Class A Common Stock 4.83M $0.00 See footnote F2, F15
transaction POSH Class B Common Stock Conversion of derivative security $0 -289K -100% $0.00* 0 Jul 30, 2021 Class A Common Stock 289K $0.00 See footnote F3, F15
transaction POSH Class B Common Stock Conversion of derivative security $0 -4.71K -100% $0.00* 0 Jul 30, 2021 Class A Common Stock 4.71K $0.00 See footnote F4, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares are held by MMEF XI, L.P. MV Management XI, L.L.C. is the general partner of MMEF XI, L.P. and may be deemed to have voting and investment power over the shares held by MMEF XI, L.P., but MV Management XI, L.L.C. disclaims beneficial ownership of such shares, except to the extent of its proportionate pecuniary interest therein.
F2 These shares are held by Menlo Ventures XI, L.P. MV Management XI, L.L.C. is the general partner of Menlo Ventures XI, L.P. and may be deemed to shared voting and investment power over the shares held by Menlo Ventures XI, L.P., but MV Management XI, L.L.C. disclaims beneficial ownership of such shares, except to the extent of its proportionate pecuniary interest therein.
F3 These shares are held by Menlo Special Opportunities Fund, L.P. MSOP GP, L.L.C. is the general partner of Menlo Special Opportunities Fund, L.P. and may be deemed to have voting and investment power over the shares held by Menlo Special Opportunities Fund, L.P., but MSOP GP, L.L.C. disclaims beneficial ownership of such shares, except to the extent of its proportionate pecuniary interest therein.
F4 These shares are held by MMSOP, L.P. MSOP GP, L.L.C. is the general partner MMSOP, L.P. and may be deemed to have voting and investment power over the shares held by MMSOP, L.P., but MSOP GP, L.L.C. disclaims beneficial ownership of such shares, except to the extent of its proportionate pecuniary interest therein.
F5 Represents a pro rata in kind distribution without consideration by MMEF XI, L.P. to its partners, including its general partner, MV Management XI, L.L.C.
F6 Represents a pro rata in kind distribution without consideration by Menlo Ventures XI, L.P. to its partners, including its general partner, MV Management XI, L.L.C.
F7 Represents the receipt of shares in the pro rata in kind distribution of Class A Common Stock of the Issuer by Menlo Ventures XI, L.P. described in footnote 6.
F8 Represents a pro rata in kind distribution of Class A Common Stock of the Issuer by MV Management XI, LLC without consideration to its members.
F9 Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $36.16 - $37.14 per share. Each Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F10 Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $37.17 - $38.16 per share. Each Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F11 Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $38.20 - $39.16 per share. Each Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F12 All shares were sold at this price.
F13 Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $36.01 - $37.00 per share. Each Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F14 Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $37.01 - $37.27 per share. Each Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F15 Each share of the issuer's Class B Common Stock will convert into 1 share of the issuer's Class A Common Stock at the option of the holder, and has no expiration date.