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

Role: Chief Accounting Officer
Signature: /s/ Megan Binkley
Issuer symbol: ROOT
Transactions as of: 16 Aug 2021
Net transactions value: +$6,000
Form type: 4
Filing time: 18 Aug 2021, 10:31:04 UTC
Next filing: 17 Nov 2021
SEC: View on sec.gov

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		+2,500	+9.4%		28,990	16 Aug 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	-2,500	-12%	$0.000000	17,500	16 Aug 2021	Class B Common Stock	2,500	$2.40	Direct	F2, F3
transaction	ROOT	Class B Common Stock	Options Exercise	$6,000	+2,500	+12%	$2.40	22,500	16 Aug 2021	Class A Common Stock	2,500		Direct	F1, F2
transaction	ROOT	Class B Common Stock	Conversion of derivative security	$0	-2,500	-11%	$0.000000	20,000	16 Aug 2021	Class A Common Stock	2,500		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.