Mahtiyar Bonakdarpour - Aug 31, 2022 Form 4 Insider Report for Root, Inc. (ROOT)

Role
Chief Technology Officer
Signature
/s/ Jodi Baker, Attorney-in-fact
Stock symbol
ROOT
Transactions as of
Aug 31, 2022
Transactions value $
$0
Form type
4
Date filed
9/2/2022, 08:39 PM
Previous filing
Aug 3, 2022
Next filing
Nov 3, 2022

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 +168K 168K Aug 31, 2022 See Footnote F1, F2, F3
holding ROOT Class A Common Stock 266K Aug 31, 2022 Direct 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 Class B Common Stock Conversion of derivative security $0 -168K -100% $0.00* 0 Aug 31, 2022 Class A Common Stock 168K See Footnote F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were converted from Class B Common Stock into Class A Common Stock on a one-for-one basis for no consideration.
F2 The issuer effected a 1-for-18 reverse stock split of its Class A Common Stock and Class B Common Stock on August 12, 2022. The number of securities reported on this Form 4 has been adjusted to reflect the reverse stock split.
F3 These shares are held by Drive Capital Overdrive Fund I, L.P. ("DCOF I") (112,469), Drive Capital Overdrive Fund I (TE), L.P. ("DCOF I TE") (54,382), and Drive Capital Overdrive Ignition Fund I, L.P. ("DCOIF I") (1,593). Drive Capital Overdrive Fund I (GP), LLC ("DCOIF I GP"), the general partner of each of DCOF I, DCOF I TE and DEOIF I, may be deemed to have sole power to vote these shares. The Reporting Person's spouse does not have voting or investment control over these shares but may be deemed to have an indirect pecuniary interest in such shares through her carried interest in DCOIF I GP. The Reporting Person's exact pecuniary interest is not readily determinable because it is subject to several variables. The Reporting Person disclaims beneficial ownership of any of these shares except to the extent of his spouse's pecuniary interest therein.
F4 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.