Megan Binkley - Aug 9, 2023 Form 4 Insider Report for Root, Inc. (ROOT)

Role
Chief Financial Officer
Signature
/s/ Jodi Baker, Attorney-in-fact
Stock symbol
ROOT
Transactions as of
Aug 9, 2023
Transactions value $
$0
Form type
4
Date filed
8/11/2023, 04:09 PM
Previous filing
Aug 3, 2023
Next filing
Oct 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROOT Class A Common Stock Award $0 +70.9K +1143.24% $0.00 77.1K Aug 9, 2023 Direct F1

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 Performance-Based Restricted Stock Units Award $0 +15.9K $0.00 15.9K Aug 9, 2023 Class A Common Stock 15.9K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the grant of restricted stock units ("RSUs"). The shares subject to the RSUs vest on the following schedule: 16,646 on April 1, 2024; 18,024 on April 1, 2025; 18,117 on April 1, 2026; 18,117 on April 1, 2027.
F2 Each Performance-Based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of ROOT Class A common stock. The PSUs vest in tranches of 1,592 on April 1, 2024; 3,184 on April 1, 2025; 4,777 on April 1, 2026; and 6,369 on April 1, 2026 and upon ROOT Class A common stock achieving a specified price per share over 45 consecutive trading days after such dates. Per share price achievement levels for the four tranches are: $16.76; $25.14; $33.52; and $41.90.