Thomas Cortese - Jun 28, 2021 Form 4 Insider Report for PELOTON INTERACTIVE, INC. (PTON)

Role
COO and Head of Prod. Dev.
Signature
/s/ Hisao Kushi as attorney-in-fact for Thomas Cortese
Stock symbol
PTON
Transactions as of
Jun 28, 2021
Transactions value $
-$19,183,384
Form type
4
Date filed
6/30/2021, 04:31 PM
Previous filing
Jun 28, 2021
Next filing
Sep 3, 2021

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 +154K +37380.63% $0.00 155K Jun 28, 2021 Direct F1
transaction PTON Class A Common Stock Sale -$19.2M -154K -99.73% $124.26* 413 Jun 28, 2021 Direct F2, F3
holding PTON Class A Common Stock 106K Jun 28, 2021 By LLC

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 -154K -43.56% $0.00 200K Jun 28, 2021 Class B Common Stock 154K $2.89 Direct F4, F5
transaction PTON Class B Common Stock Options Exercise $0 +154K +14.99% $0.00 1.18M Jun 28, 2021 Class A Common Stock 154K Direct F5
transaction PTON Class B Common Stock Conversion of derivative security $0 -154K -13.04% $0.00 1.03M Jun 28, 2021 Class A Common Stock 154K Direct F5, F6
holding PTON Class B Common Stock 261K Jun 28, 2021 Class A Common Stock 261K By LLC F5
holding PTON Class B Common Stock 50K Jun 28, 2021 Class A Common Stock 50K By GRAT 1 F5, F7
holding PTON Class B Common Stock 50K Jun 28, 2021 Class A Common Stock 50K By GRAT 2 F5, F8
* 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 reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $124.00 to $124.89 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The option vests as to 2.0833% of the total shares monthly, commencing September 25, 2017, with 100% of the total shares vested on August 25, 2021, subject to the 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.
F5 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.
F6 The holder elected to convert the Class B common stock to Class A common stock on a 1-for-1 basis.
F7 These securities are held of record by TPC 2021 GRAT I.
F8 These securities are held of record by TPC 2021 GRAT 2.