Kevin Cornils - Aug 18, 2021 Form 3 Insider Report for PELOTON INTERACTIVE, INC. (PTON)

Role
Chief Commercial Officer
Signature
/s/ Bart Goldstein as attorney-in-fact for Kevin Cornils
Stock symbol
PTON
Transactions as of
Aug 18, 2021
Transactions value $
$0
Form type
3
Date filed
8/27/2021, 09:02 AM
Next filing
Sep 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding PTON Class A Common Stock 0 Aug 18, 2021 Direct

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
holding PTON Stock Option (right to buy Class B Common Stock) Aug 18, 2021 Class B Common Stock 250K $2.89 Direct F1, F2
holding PTON Stock Option (right to buy Class B Common Stock) Aug 18, 2021 Class B Common Stock 200K $14.59 Direct F2, F3
holding PTON Stock Option (right to buy Class B Common Stock) Aug 18, 2021 Class B Common Stock 200K $14.59 Direct F2, F4
holding PTON Stock Option (right to buy Class A Common Stock) Aug 18, 2021 Class A Common Stock 400K $26.69 Direct F5
holding PTON Stock Option (right to buy Class A Common Stock) Aug 18, 2021 Class A Common Stock 101K $82.59 Direct F6
holding PTON Stock Option (right to buy Class A Common Stock) Aug 18, 2021 Class A Common Stock 63.5K $123.81 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option vested as to 25% of the total shares on October 23, 2018, then 2.0833% of the total shares vest monthly, with 100% of the total shares vested on October 23, 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.
F2 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.
F3 The option vests as to 2.0833% of the total shares monthly, commencing May 24, 2019, with 100% of the total shares vested on April 24, 2023, subject to the reporting person's provision of service to the issuer on each vesting date.
F4 The option vests as to 40% of the total shares on February 1, 2022, 30% of the total shares on February 1, 2024 and 30% of the total shares on February 1, 2026, subject to the reporting person's provision of service to the issuer on each vesting date.
F5 The option vests as to 2.0833% of the total shares monthly, commencing March 28, 2020, with 100% of the total shares vested on February 28, 2024, subject to the reporting person's provision of service to the issuer on each vesting date.
F6 The option vests as to 6.25% of the total shares quarterly, commencing November 15, 2020, with 100% of the total shares vested and exercisable on August 15, 2024, subject to the reporting person's provision of service to the issuer on each vesting date.
F7 The option vests as to 6.25% of the total shares quarterly, commencing May 15, 2021, with 100% of the total shares vested and exercisable on February 15, 2025, subject to the reporting person's provision of service to the issuer on each vesting date.

Remarks:

Exhibit 24 - Power of Attorney