Steven M. Spurlock - 22 Oct 2021 Form 4 Insider Report for Cyngn, Inc. (CYN)

Role
10%+ Owner
Signature
/s/ An-Yen Hu, by power of attorney for Steven M. Spurlock
Issuer symbol
CYN
Transactions as of
22 Oct 2021
Net transactions value
$0
Form type
4
Filing time
22 Oct 2021, 16:32:18 UTC
Previous filing
01 Nov 2021
Next filing
09 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CYN Common Stock Conversion of derivative security +8,038,585 8,038,585 22 Oct 2021 See footnotes F1, F2
transaction CYN Common Stock Conversion of derivative security +692,418 +8.6% 8,731,003 22 Oct 2021 See footnotes F1, F2
transaction CYN Common Stock Conversion of derivative security +217,622 +2.5% 8,948,625 22 Oct 2021 See footnotes F1, F2
transaction CYN Common Stock Conversion of derivative security +290,162 290,162 22 Oct 2021 See footnotes F1, F3

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 CYN Series A Preferred Stock Conversion of derivative security $0 -8,038,585 -100% $0.000000* 0 22 Oct 2021 Common Stock 8,038,585 See footnotes F1, F2
transaction CYN Series B Preferred Stock Conversion of derivative security $0 -692,418 -100% $0.000000* 0 22 Oct 2021 Common Stock 692,418 See footnotes F1, F2
transaction CYN Series C Preferred Stock Conversion of derivative security $0 -217,622 -100% $0.000000* 0 22 Oct 2021 Common Stock 217,622 See footnotes F1, F2
transaction CYN Series C Preferred Stock Conversion of derivative security $0 -290,162 -100% $0.000000* 0 22 Oct 2021 Common Stock 290,162 See footnotes F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 All Series of convertible Preferred Stock automatically converted into shares of the Company's Common Stock on a 1-for-1 basis, without payment or further consideration, immediately prior to the consummation of the Company's initial public offering.
F2 The shares are held by Benchmark Capital Partners VII, L.P. ("BCP VII"), for itself and as nominee for Benchmark Founders' Fund VII, L.P. ("BFF VII") and Benchmark Founders' Fund VII-B, L.P. ("BFF VII-B"). Benchmark Capital Management Co. VII, L.L.C. ("BCMC VII"), the general partner of each of BCP VII, BFF VII and BFF VII-B, may be deemed to have sole voting and dispositive power over such shares. Matthew R. Cohler, Bruce W. Dunlevie, Peter H. Fenton, J. William Gurley, Kevin R. Harvey, Mitchell H. Lasky (a member of the Issuer's board of directors) and Steven M. Spurlock, the managing members of BCMC VII, may be deemed to share voting and dispositive power over these shares beneficially held by such entities. Each such person and entity disclaims the existence of a "group" and disclaims beneficial ownership of any securities, except to the extent of such person's or entity's pecuniary interest in such securities.
F3 The shares are held by Benchmark Capital Partners VI, L.P. ("BCP VI"), for itself and as nominee for Benchmark Founders' Fund VI, L.P. ("BFF VI"), Benchmark Founders' Fund VI-B, L.P. ("BFF VI-B") and related persons. Benchmark Capital Management Co. VI, L.L.C. ("BCMC VI"), the general partner of each of BCP VI, BFF VI and BFF VI-B, may be deemed to have sole voting and dispositive power over such shares. Alexandre Balkanski, Matthew R. Cohler, Bruce W. Dunlevie, Peter H. Fenton, J. William Gurley, Kevin R. Harvey, Robert C. Kagle, Mitchell H. Lasky (a member of the Issuer's board of directors) and Steven M. Spurlock, the managing members of BCMC VI, may be deemed to share voting and dispositive power over these shares beneficially held by such entities. Each such person and entity disclaims the existence of a "group" and disclaims beneficial ownership of any securities, except to the extent of such person or entity's pecuniary interest in such securities.

Remarks:

This report is one of three reports, each on a separate Form 4, but relating to the same holdings being filed by entities affiliated with Benchmark and their applicable members.