Key facts
- This page summarizes Norwest Venture Partners XIII, LP's Form 4 filing for Grove Collaborative Holdings, Inc. (GROV).
- 3 reported transactions and 2 derivative rows are listed below.
- Accepted by SEC: 17 Apr 2023, 21:18.
Norwest Venture Partners XIII, LP - 23 Nov 2022 Form 4 Insider Report for Grove Collaborative Holdings, Inc. (GROV)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- GROV
- Reported as of
- 23 Nov 2022
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 17 Apr 2023, 21:18:50 UTC
- Prior SEC filing
- 27 Jun 2022
- Source filing
- View source filing
- Reporting owner signature
- Norwest Venture Partners XIII, LP, By: Genesis VC Partners XIII, LLC, its general partner, By: NVP Associates, LLC, its managing member, By /s/ Matthew De Dominicis, Chief Financial Officer
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Norwest Venture Partners XIII, LP filed Form 4 for Grove Collaborative Holdings, Inc. (GROV) on 17 Apr 2023.
Change
- Previous filing in this sequence was filed on 27 Jun 2022.
- 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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
GROV
transaction
Class A Common Stock
Conversion of derivative security
- Transaction value
- $0
- Shares
- +14,217,512
- Change %
- +2843%
- Price
- $0.000000
- Shares after
- 14,717,612
- Date
- 23 Nov 2022
- Ownership
- By Norwest Venture Partners XIII, LP
- Footnotes
- F1, F2
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
GROV
transaction
Derivative
Class B Common Stock
Conversion of derivative security
- Transaction value
- $0
- Shares
- -14,217,512
- Change %
- -92%
- Price
- $0.000000
- Shares after
- 1,272,396
- Date
- 23 Nov 2022
- Ownership
- By Norwest Venture Partners XIII, LP
- Underlying class
- Class A Common Stock
- Underlying amount
- 14,217,512
- Exercise price
- Footnotes
- F1, F2, F3, F4
GROV
transaction
Derivative
Class B Common Stock
Other
- Transaction value
- $0
- Shares
- +135,480
- Change %
- +11%
- Price
- $0.000000
- Shares after
- 1,407,876
- Date
- 13 Apr 2023
- Ownership
- By Norwest Venture Partners XIII, LP
- Underlying class
- Class A Common Stock
- Underlying amount
- 135,480
- Exercise price
- Footnotes
- F2, F3, F4, F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 5 footnotes
Footnote F1
These shares of Class B common stock were converted into Class A common stock on a one-for-one basis for no additional consideration.
Footnote F2
The securities are directly held by Norwest Venture Partners XIII, LP ("NVP XIII"). Genesis VC Partners XIII, LLC ("Genesis XIII") is the general partner of NVP XIII and NVP Associates, LLC ("NVP Associates") is the managing member of Genesis XIII. Genesis XIII, NVP Associates and Jeffrey Crowe, Promod Haque and Jon E. Kossow, as Co-Chief Executive Officers of NVP Associates, may be deemed to share voting and dispositive power over the shares held by NVP XIII. Each of Genesis XIII, NVP Associates and Messrs. Crowe, Haque and Kossow disclaims beneficial ownership of the securities held by NVP XIII except to the extent of its or his pecuniary interest therein.
Footnote F3
Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis for no additional consideration at the Reporting Person's election and has no expiration date.
Footnote F4
Represents restricted shares of Class B Common Stock that will vest upon the achievement of certain earnout thresholds prior to June 16, 2032 (the "Earnout Shares") as follows: (i) 50% of the Earnout Shares automatically vest if the daily volume weighted average price ("VWAP") of the shares of Class A Common Stock is greater than or equal to $12.50 per share for any 20 trading days within any 30-trading-day period; and (ii) 50% of the Earnout Shares automatically vest if the daily VWAP of the shares of Class A Common Stock is greater than or equal to $15.00 per share for any 20 trading days within any 30-trading-day period, each subject to certain change-of-control provisions.
Footnote F5
Represents the automatic increase, for no additional consideration, in the number of shares of Class B Common Stock held by the Reporting Person as a result of the rebalancing of Earnout Shares following the forfeiture of certain equity awards of the Issuer by the holders thereof, as required by the Agreement and Plan of Merger, dated December 7, 2021, as amended and restated on March 31, 2022, by and among Virgin Group Acquisition Corp. II ("VGAC II"), two wholly owned direct subsidiaries of VGAC II, and Grove Collaborative, Inc. This increase is exempt from Section 16 filing by virtue of the exemption provided by Rule 16a-9 and is being reported voluntarily.