Megan Binkley - Apr 1, 2024 Form 4 Insider Report for Root, Inc. (ROOT)

Signature
/s/ Jodi Baker, Attorney-in-fact
Stock symbol
ROOT
Transactions as of
Apr 1, 2024
Transactions value $
-$516,515
Form type
4
Date filed
4/3/2024, 05:05 PM
Previous filing
Feb 5, 2024
Next filing
May 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROOT Class A Common Stock Tax liability -$14.8K -245 -0.32% $60.52 76.5K Apr 1, 2024 Direct F1
transaction ROOT Class A Common Stock Tax liability -$457K -7.55K -9.87% $60.52 68.9K Apr 1, 2024 Direct F1
transaction ROOT Class A Common Stock Options Exercise $0 +1.59K +2.31% $0.00 70.5K Apr 2, 2024 Direct
transaction ROOT Class A Common Stock Tax liability -$44.8K -722 -1.02% $62.08 69.8K Apr 2, 2024 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 Options Exercise $0 -1.59K -10% $0.00 14.3K Apr 2, 2024 Class A Common Stock 1.59K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares of common stock were withheld by the Issuer to satisfy tax withholding obligations associated with the vesting of restricted stock units.
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, 2027 and upon ROOT Class A common stock achieving a specified price per share over 45 consecutive trading days on or after such date. Per share price achievement levels for the four tranches are: $16.76; $25.14; $33.52; and $41.90.