Hisao Kushi - 20 Oct 2021 Form 4 Insider Report for PELOTON INTERACTIVE, INC. (PTON)

Role
Chief Legal & Culture Officer
Signature
/s/ Bart Goldstein as attorney-in-fact for Hisao Kushi
Issuer symbol
PTON
Transactions as of
20 Oct 2021
Net transactions value
-$7,355,096
Form type
4
Filing time
21 Oct 2021, 16:33:20 UTC
Previous filing
15 Sep 2021
Next filing
03 Mar 2022
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 +80,000 +4640% $0.000000 81,724 20 Oct 2021 Direct F1
transaction PTON Class A Common Stock Sale $2,719,935 -29,780 -36% $91.33* 51,944 20 Oct 2021 Direct F2, F3
transaction PTON Class A Common Stock Sale $4,366,382 -47,320 -91% $92.27* 4,624 20 Oct 2021 Direct F2, F4
transaction PTON Class A Common Stock Sale $268,779 -2,900 -63% $92.68* 1,724 20 Oct 2021 Direct F2, F5

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 -80,000 -15% $0.000000 467,110 20 Oct 2021 Class B Common Stock 80,000 $2.89 Direct F6, F7
transaction PTON Class B Common Stock Options Exercise $0 +80,000 $0.000000 80,000 20 Oct 2021 Class A Common Stock 80,000 Direct F7
transaction PTON Class B Common Stock Conversion of derivative security $0 -80,000 -100% $0.000000* 0 20 Oct 2021 Class A Common Stock 80,000 Direct F7, F8
holding PTON Class B Common Stock 367,607 20 Oct 2021 Class A Common Stock 367,607 By Kushi Family 2018 GRAT F7, F9
holding PTON Class B Common Stock 632,393 20 Oct 2021 Class A Common Stock 632,393 By Kushi Family Trust dated June 3, 2013 F7, F10
* 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 $90.655 to $91.65 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 reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.66 to $92.655 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.
F5 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.66 to $92.72 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.
F6 The option is fully vested and exercisable.
F7 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.
F8 The holder elected to convert the Class B common stock to Class A common stock on a 1-for-1 basis.
F9 These securities are held of record by Hisao Kushi and Karen Kushi, Trustees of the Kushi Family 2018 Grantor Retained Annuity Trust dated September 27, 2018.
F10 These securities are held of record by Hisao Kushi and Karen Kushi, Trustees of the Kushi Family Trust dated June 3, 2013.