Bryan E. Roberts - 17 Feb 2022 Form 4 Insider Report for CASTLIGHT HEALTH, INC.

Source evidence Original filing metadata and source links for verification. 5 source fields
SEC form
4
Accepted by SEC
18 Feb 2022, 13:13:57 UTC
Prior SEC filing
15 Jun 2021
Next SEC filing
17 Jun 2022
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Bryan E. Roberts

Key filing fact

Bryan E. Roberts filed Form 4 for CASTLIGHT HEALTH, INC. on 18 Feb 2022.

Key facts

  • This page summarizes Bryan E. Roberts's Form 4 filing for CASTLIGHT HEALTH, INC..
  • 4 reported transactions and 2 derivative rows are listed below.
  • Accepted by SEC: 18 Feb 2022, 13:13.

Change

  • Previous filing in this sequence was filed on 15 Jun 2021.
  • Current net transaction value: $0.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CSLT transaction

Class B Common Stock

Disposed to Issuer

Transaction value
Shares
-405,184
Change %
-100%
Price
Shares after
0
Date
17 Feb 2022
Ownership
Direct
Footnotes
F1, F2
CSLT transaction

Class B Common Stock

Disposed to Issuer

Transaction value
Shares
-5,255,264
Change %
-100%
Price
Shares after
0
Date
17 Feb 2022
Ownership
By Funds
Footnotes
F1, F3, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CSLT transaction Derivative

Director Stock Option (right to buy)

Disposed to Issuer

Transaction value
Shares
-25,000
Change %
-100%
Price
Shares after
0
Date
17 Feb 2022
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
25,000
Exercise price
$16.00
Footnotes
F5, F6
CSLT transaction Derivative

Class A Common Stock

Disposed to Issuer

Transaction value
Shares
-15,568,571
Change %
-100%
Price
Shares after
0
Date
17 Feb 2022
Ownership
By Funds
Underlying class
Class B Common Stock
Underlying amount
15,568,571
Exercise price
Footnotes
F1, F3, F4, F7, F8
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Bryan E. Roberts is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 8 footnotes

Footnote F1

Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated January 4, 2022, by and among the Issuer, Vera Whole Health, Inc. ("Vera Health"), and Carbon Merger Sub, Inc. (the "Merger Sub"), the Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Vera Health, effective as of February 17, 2022 (the "Effective Time"). Pursuant to the Merger Agreement, each share of the Issuer's Class A common stock and Class B common stock was exchanged for $2.05 in cash at the Effective Time.

Footnote F2

The reporting person is a member of VR Management, LLC (the "Management Company"). Under an agreement between the reporting person and the Management Company, the reporting person is deemed to hold the reported shares for the sole benefit of the Management Company and must exercise the reported shares solely upon the direction of the Management Company, which is entitled to the shares. The Management Company may be deemed the indirect beneficial owner of the reported shares, and the reporting person may be deemed the indirect beneficial owner of the reported shares through his interest in the Management Company. The reporting person disclaims beneficial ownership of the reported shares except to the extent of his pecuniary interest therein.

Footnote F3

Venrock Associates VI, L.P. ("VA6") held an aggregate of 3,707,442 shares of Class B Common Stock, Venrock Partners VI, L.P. ("VP6") held an aggregate of 291,092 shares of Class B Common Stock, Venrock Associates V, L.P. ("VA5") held an aggregate of 1,133,948 shares of Class B Common Stock and 14,047,522 shares of Class A Common Stock, Venrock Partners V, L.P. ("VP5") held an aggregate of 96,139 shares of Class B Common Stock and 1,190,996 shares of Class A Common Stock and Venrock Entrepreneurs Fund V, L.P. ("VEF5") held an aggregate of 26,643 shares of Class B Common Stock and 330,053 shares of Class A Common Stock.

Footnote F4

Venrock Management VI, LLC, Venrock Partners Management VI, LLC, Venrock Management V, LLC, VEF Management V, LLC and Venrock Partners Management V, LLC (collectively, the "Venrock GP Entities") are the sole general partners of VA6, VP6, VA5, VEF5 and VP5, respectively, and may be deemed to beneficially own these shares. The reporting person is a member of the Venrock GP Entities and may be deemed to beneficially own these shares. The reporting person and the Venrock GP Entities expressly disclaim beneficial ownership over these shares except to the extent of their indirect pecuniary interests therein.

Footnote F5

The option is fully vested and exercisable.

Footnote F6

The option exercise price is equal to or exceeds the Merger Consideration and therefore the option was automatically cancelled without consideration immediately prior to the Effective Date.

Footnote F7

Each share of Class A Common Stock is convertible at any time at the option of the holder into one (1) share of Class B Common Stock. In addition, each share of Class A Common Stock will convert automatically into one (1) share of Class B Common Stock upon the transfer, whether or not for value, to any transferee who is not a "Permitted Transferee", as defined in the Issuer's Restated Certificate of Incorporation immediately prior to the Effective Time. The shares of Class A Common Stock have no expiration date.

Footnote F8

Each share of Class A Common Stock converted into one (1) share of Class B Common Stock at the Effective Time.

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