Form 4: Polaris Venture Management Distributes Alector Shares to Limited Partners and Members

Polaris Venture Management Co. VI, L.L.C. distributed Alector, Inc. shares pro-rata to its limited partners and members on May 29, 2024, resulting in changes in beneficial ownership.

Summary

• Polaris Venture Management Co. VI, L.L.C. and affiliated entities, including Polaris Venture Partners VI (AIV), L.P., Polaris Venture Partners Founders' Fund VI, L.P., Polaris Venture Partners VI, L.P., and Polaris Venture Partners VI (AIV-B), L.P. (collectively, the 'Polaris Funds'), reported changes in beneficial ownership of Alector, Inc. shares.
• On May 29, 2024, the Polaris Funds distributed shares of Alector common stock pro-rata to their limited partners without additional consideration.
• PVPFF VI distributed 27,606 shares, PVP VI AIV distributed 379,180 shares, and PVP VI AIV-B distributed 93,214 shares.
• Polaris Venture Management Co. VI, L.L.C. ('PVM'), the general partner of the Polaris Funds, also received shares in the pro-rata distribution.
• PVM received 276 shares from PVPFF VI, 78,869 shares from PVP VI AIV, and 19,388 shares from PVP VI AIV-B.
• Following these transactions, the Polaris Funds continue to hold significant amounts of Alector shares: PVPFF VI holds 544,039 shares, PVP VI AIV holds 7,072,644 shares, PVP VI AIV-B holds 1,738,666 shares, and PVP VI holds 498,468 shares.
• The Managing Members of PVM, including Amir Nashat, Brian Chee, David Barrett, Bryce Youngren, Jonathan Flint, and Terrance McGuire, may be deemed to have shared power to vote and dispose of the shares held by the Polaris Funds but disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a pro-rata distribution of shares, which is neither inherently positive nor negative. The sentiment is neutral.

Management Comments

• Each of the Managing Members and PVM disclaims beneficial ownership of the securities held by the Polaris Funds, and this report shall not be deemed an admission that any of them is the beneficial owner of such securities for purposes of Section 16 or for any other purpose, except to the extent of their respective pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market regarding significant shareholders' activities.

Stakeholder Impact

• The pro-rata distribution of shares may result in a wider distribution of Alector's shareholder base.
• The distribution does not directly impact the company's operations or financial condition.

Key Dates