Megan Binkley - Aug 16, 2021 Form 4 Insider Report for Root, Inc. (ROOT)

Role: Chief Accounting Officer
Signature: /s/ Megan Binkley
Stock symbol: ROOT
Transactions as of: Aug 16, 2021
Transactions value $: $6,000
Form type: 4
Date filed: 8/18/2021, 10:31 AM
Next filing: Nov 17, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ROOT	Class A Common Stock	Conversion of derivative security		+2.5K	+9.44%		29K	Aug 16, 2021	Direct	F1, F2

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	ROOT	Stock Option (Right to Buy)	Options Exercise	$0	-2.5K	-12.5%	$0.00	17.5K	Aug 16, 2021	Class B Common Stock	2.5K	$2.40	Direct	F2, F3
transaction	ROOT	Class B Common Stock	Options Exercise	$6K	+2.5K	+12.5%	$2.40	22.5K	Aug 16, 2021	Class A Common Stock	2.5K		Direct	F1, F2
transaction	ROOT	Class B Common Stock	Conversion of derivative security	$0	-2.5K	-11.11%	$0.00	20K	Aug 16, 2021	Class A Common Stock	2.5K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	On August 16, 2021, the Reporting Person exercised stock options regarding 2,500 shares of Class B Common Stock (the "Exercise"). Under the terms of the Exercise, the Reporting Person received 2,500 shares of Class A Common Stock rather than Class B Common Stock. This report reflects the Exercise as the exempt disposition of the stock options, a deemed exempt acquisition of the underlying Class B Common Stock, and a deemed exempt conversion of such Class B Common Stock into Class A Common Stock.
F3	The shares subject to the option are immediately exercisable. One-fourth of the shares subject to the option award vested on April 18, 2020, and thereafter one-forty-eighth of the shares subject to the option award vest monthly, subject to the Reporting Person's continuous service through each such vesting date.