Kevin Efrusy - 24 Sep 2025 Form 4 Insider Report for Couchbase, Inc. (BASE)

Reporting relationship: Director
Issuer ticker: BASE
Reported as of: 24 Sep 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 24 Sep 2025, 16:15:22 UTC
Prior SEC filing: 17 Sep 2025
Source filing: View source filing
Reporting owner signature: /s/ Margaret Chow, by Power of Attorney for Kevin Efrusy

Key filing fact

Kevin Efrusy filed Form 4 for Couchbase, Inc. (BASE) on 24 Sep 2025.

Key facts

This page summarizes Kevin Efrusy's Form 4 filing for Couchbase, Inc. (BASE).
9 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 24 Sep 2025, 16:15.

Change

Previous filing in this sequence was filed on 17 Sep 2025.
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

Reporting Owners (1)

CIK 0001224922 Primary reporting owner

EFRUSY KEVIN

Relationship: Director
Address: C/O COUCHBASE, INC., 3155 OLSEN DR., SUITE 150, SAN JOSE
Signature: /s/ Margaret Chow, by Power of Attorney for Kevin Efrusy
Signature date: 24 Sep 2025

Reported non-derivative transactions

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

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -38,704
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Direct
Footnotes: F1, F2, F3

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -548,874
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel X L.P.
Footnotes: F1, F2, F4, F5

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -146,484
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel Growth Fund II Strategic Partners L.P.
Footnotes: F1, F2, F5

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -217,110
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel Growth Fund Investors 2013 L.L.C.
Footnotes: F1, F2, F5

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -41,585
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel X Strategic Partners L.P.
Footnotes: F1, F2, F5, F6

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -2,022,312
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel Growth Fund II L.P.
Footnotes: F1, F2, F5

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -57,390
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel Investors 2008 L.L.C.
Footnotes: F1, F2, F5, F7

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -560
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: Accel X Associates L.L.C.
Footnotes: F1, F2, F5, F8

BASE transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -35,592
Change %: -100%
Price
Shares after: 0
Date: 24 Sep 2025
Ownership: The Efrusy Family Trust u/a/d 10/21/2005
Footnotes: F1, F2, F9, F10

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

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

Explanation of responses 10 footnotes

Footnote F1

Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated June 20, 2025, by and among Couchbase, Inc. (the "Issuer"), Cascade Parent Inc. ("Parent") and Cascade Merger Sub Inc. ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with Issuer surviving the Merger and becoming a wholly owned subsidiary of Parent.

Footnote F2

At the effective time of the Merger (the "Effective Time"), these shares, including awards of restricted stock units that vested previously but settlement for which had been deferred under our non-employee director restricted stock unit ("RSU") deferral program (as applicable), were automatically converted solely into the right to receive cash in an amount equal to $24.50 (without interest) per share (the "Per Share Price"), subject to the terms and conditions of the Merger Agreement.

Footnote F3

At the Effective Time, each outstanding RSU that was unvested was cancelled and converted solely into the contingent right to receive a cash award (without interest) equal to (i) the total number of shares of common stock subject to such unvested RSU award immediately prior to the Effective Time, multiplied by (ii) the Per Share Price, less applicable withholding taxes. Each converted cash award will continue to have, and will be subject to, the same vesting terms and conditions (including acceleration provisions upon a qualifying termination of employment (if any)) as applied to the corresponding unvested RSU award immediately prior to the Effective Time, except for administrative changes that are not adverse to the former holder of the unvested RSU award.

Footnote F4

Reflects distributions of (i) 423,600 shares of the Issuer's common stock, (ii) 423,600 shares of the Issuer's common stock, and (iii) 550,680 shares of the Issuer's common stock, in each case distributed by Accel X L.P. to its limited partners and general partner, which shares were further distributed, representing each such partner's pro rata interest in such shares distributed, for no consideration on December 18, 2023, January 8, 2024, and March 7, 2024, respectively, in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.

Footnote F5

Accel X Associates L.L.C. ("A10A") is the General Partner of both Accel X L.P. and Accel X Strategic Partners L.P., and has the sole voting and investment power. Andrew G. Braccia, Kevin J. Efrusy, Sameer K. Gandhi, Ping Li, and Richard P. Wong are the Managing Members of A10A and Accel Investors 2008 L.L.C., and therefore share the voting and investment powers. Accel Growth Fund II Associates L.L.C., or AGF2A, is the General Partner of both Accel Growth Fund II L.P. and Accel Growth Fund II Strategic Partners L.P., and has the sole voting and investment power. Andrew G. Braccia, Sameer K. Gandhi, Ping Li, Ryan J. Sweeney and Richard P. Wong are the Managing Members of AGF2A and Accel Growth Fund Investors 2013 L.L.C. and share such powers. Each person disclaims beneficial ownership except to the extent of their pecuniary interest therein. The address for all Accel entities listed above is 500 University Avenue, Palo Alto, California 94301.

Footnote F6

Reflects distributions of (i) 32,100 shares of the Issuer's common stock, (ii) 32,100 shares of the Issuer's common stock, and (iii) 41,730 shares of the Issuer's common stock, in each case distributed by Accel X Strategic Partners L.P. to its limited partners and general partner, which shares were further distributed, representing each such partner's pro rata interest in such shares distributed, for no consideration on December 18, 2023, January 8, 2024, and March 7, 2024, respectively, in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.

Footnote F7

Reflects distributions of (i) 44,300 shares of the Issuer's common stock, (ii) 44,300 shares of the Issuer's common stock, and (iii) 57,590 shares of the Issuer's common stock, in each case distributed by Accel Investors 2008 L.L.C. to its limited partners and general partner, which shares were further distributed, representing each such partner's pro rata interest in such shares distributed, for no consideration on December 18, 2023, January 8, 2024, and March 7, 2024, respectively, in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.

Footnote F8

Reflects distribution of (i) 476 shares of the Issuer's common stock by Accel X L.P. and (ii) 84 shares of the Issuer's common stock by Accel X Strategic Partners L.P., in each case distributed to A10A for no consideration on March 7, 2024, in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.

Footnote F9

Reflects distributions of (i) 7,521 shares of the Issuer's common stock, (ii) 6,396 shares of the Issuer's common stock, and (iii) 210 shares of the Issuer's common stock, in each case distributed to The Efrusy Family Trust u/a/d 10/21/2005 (the "Trust"), of which Mr. Efrusy is a Trustee, for no consideration on December 18, 2023, January 8, 2024, and March 7, 2024, respectively, in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.

Footnote F10

Shares held by the Trust. The Reporting Person disclaims beneficial ownership over the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.