Mariana Garavaglia - 07 Jun 2021 Form 4 Insider Report for PELOTON INTERACTIVE, INC. (PTON)

Role
Chief Bus. Operations Officer
Signature
/s/ Hisao Kushi as attorney-in-fact for Mariana Garavaglia
Issuer symbol
PTON
Transactions as of
07 Jun 2021
Net transactions value
-$1,145,760
Form type
4
Filing time
08 Jun 2021, 16:31:20 UTC
Previous filing
02 Jun 2021
Next filing
30 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTON Class A Common Stock Conversion of derivative security $0 +10,416 +482% $0.000000 12,577 07 Jun 2021 Direct F1
transaction PTON Class A Common Stock Sale $1,145,760 -10,416 -83% $110.00* 2,161 07 Jun 2021 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 PTON Stock Option (right to buy Class B Common Stock) Options Exercise $0 -10,416 -3.9% $0.000000 254,170 07 Jun 2021 Class B Common Stock 10,416 $14.59 Direct F3, F4
transaction PTON Class B Common Stock Options Exercise $0 +10,416 $0.000000 10,416 07 Jun 2021 Class A Common Stock 10,416 Direct F4
transaction PTON Class B Common Stock Conversion of derivative security $0 -10,416 -100% $0.000000* 0 07 Jun 2021 Class A Common Stock 10,416 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of shares that were acquired upon conversion of Class B Common Stock to Class A Common Stock.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F3 The option vested as to 25% of the total shares on June 13, 2020, then 2.0833% of the total shares vest monthly, with 100% of the total shares vested and exercisable on June 13, 2023, subject tothe reporting person's provision of service to the issuer on each vesting date. The option provides for an early-exercise provision and is exercisable as to unvested shares, subject to the issuer's right of repurchase.
F4 Each share of the issuer's Class B Common Stock will automatically convert into one (1) share of the issuer's Class A Common Stock (a) at the option of the holder and (b) immediately prior to the close of business on the earliest of (i) ten (10) years from the closing of the issuer's initial public offering, (ii) the date on which the outstanding shares of Class B Common Stock represent less than one percent (1%) of the aggregate number of shares of Class A Common Stock and Class B Common Stock then outstanding or (iii) the date specified by the affirmative vote of the holders of Class B Common Stock representing not less than two-thirds (2/3) of the voting power of the outstanding shares of Class B Common Stock, voting separately as a single class, and has no expiration date.
F5 The holder elected to convert the Class B common stock to Class A common stock on a 1-for-1 basis.