Brad Gerstner - May 9, 2022 Form 4 Insider Report for Confluent, Inc. (CFLT)

Role: 10%+ Owner
Signature: /s/ Hab Siam, Attorney-in-fact for Bradley Gerstner
Stock symbol: CFLT
Transactions as of: May 9, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/9/2022, 08:09 PM
Previous filing: Apr 20, 2022
Next filing: May 18, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CFLT	Class A Common Stock	Conversion of derivative security	$0	+8.4M	+143.77%	$0.00	14.2M	May 9, 2022	See Footnote	F1, F2, 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	CFLT	Class B Common Stock	Conversion of derivative security	$0	-8.4M	-100%	$0.00^*	0	May 9, 2022	Class A Common Stock	8.4M		See Footnote	F1, F4, F5

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

Explanation of Responses:

Id	Content
F1	At each Reporting Person's option exercisable at any time, each Class B Common Stock share is convertible into one Class A Common Stock share. The conversion option does not have an expiration date. On May 9, 2022, the Reporting Persons first received confirmation from the issuer or its transfer agent that the Class B shares were converted on May 4, 2022.
F2	A portion of these Class A Common Stock shares are directly owned by Altimeter Growth Partners Fund IV, L.P. ("AGPF4") and Altimeter Cascade Fund, L.P. ("ACF") (collectively, the "Altimeter Entities") in the amounts of 1,679,075 and 6,716,299. Altimeter Growth General Partner IV, LLC is the general partner of AGPF4, and Altimeter Cascade General Partner LLC is the general partner of ACF (collectively, the "Altimeter Fund GPs"). Each of the Altimeter Fund GPs have delegated share voting and investment power to Altimeter Capital Management, LP (the "Investment Manager"). The sole general partner of the Investment Manager is Altimeter Capital General Partner, LLC (the "General Partner"), and Bradley Gerstner is the sole managing principal of the Investment Manager and the General Partner and may be deemed to share voting and investment power over these shares.
F3	Because of the relationship between the Investment Manager, the General Partner, and Bradley Gerstner and each of the Altimeter Entities, each of the Altimeter Fund GPs, each of the Investment Manager, the General Partner, and Bradley Gerstner may be deemed to beneficially own the securities reported herein to the extent of its direct or indirect pecuniary interests in the Altimeter Entities and the Altimeter Fund GPs. Each of the Investment Manager, the General Partner, and Bradley Gerstner disclaims any beneficial ownership of the securities held by the Altimeter Entities except to the extent of any pecuniary interest therein.
F4	Before conversion, these Class B Common Stock shares were directly owned by Altimeter Growth Partners Fund IV, L.P. ("AGPF4") and Altimeter Cascade Fund, L.P. ("ACF") (collectively, the "Altimeter Entities") in the amounts of 1,679,075 and 6,716,299. Altimeter Growth General Partner IV, LLC is the general partner of AGPF4, and Altimeter Cascade General Partner LLC is the general partner of ACF (collectively, the "Altimeter Fund GPs"). Each of the Altimeter Fund GPs have delegated share voting and investment power to Altimeter Capital Management, LP (the "Investment Manager"). The sole general partner of the Investment Manager is Altimeter Capital General Partner, LLC (the "General Partner"), and Bradley Gerstner is the sole managing principal of the Investment Manager and the General Partner and may be deemed to share voting and investment power over these shares.
F5	Because of the relationship between the Investment Manager, the General Partner, and Bradley Gerstner and each of the Altimeter Entities, each of the Altimeter Fund GPs, each of the Investment Manager, the General Partner, and Bradley Gerstner may be deemed to beneficially own the securities reported herein to the extent of its direct or indirect pecuniary interests in the Altimeter Entities and the Altimeter Fund GPs. Each of the Investment Manager, the General Partner, and Bradley Gerstner disclaims any beneficial ownership of the securities held by the Altimeter Entities except to the extent of any pecuniary interest therein.