Form 4: Kleiner Perkins Affiliates Convert Preferred Stock to Ambiq Micro Common Shares

KPCB XVI Associates and Kleiner Perkins Caufield & Byers XVI, significant shareholders and directors of Ambiq Micro, Inc., converted various series of preferred stock into 1,488,949 shares of common stock.

Summary

• KPCB XVI Associates, LLC and Kleiner Perkins Caufield & Byers XVI, LLC, both 10% owners and directors of Ambiq Micro, Inc. (AMBQ), reported changes in their beneficial ownership.
• On July 31, 2025, various series of convertible preferred stock automatically converted into common stock immediately prior to the Issuer's initial public offering.
• 748,046 shares of Series C Convertible Preferred Stock converted into 748,046 shares of Common Stock.
• 98,958 shares of Series D Convertible Preferred Stock converted into 98,958 shares of Common Stock.
• 22,594 shares of Series E Convertible Preferred Stock converted into 23,294 shares of Common Stock.
• 171,064 shares of Series F Convertible Preferred Stock converted into 194,618 shares of Common Stock.
• Following these transactions, the reporting persons beneficially own a total of 1,488,949 shares of Ambiq Micro Common Stock.
• All shares are held indirectly by KPCB Holdings, Inc., as nominee, for the accounts of the individuals and entities involved.
• L. John Doerr, Beth Seidenberg, Randy Komisar, Theodore E. Schlein, and Wen Hsieh, as managing members of KPCB XVI Associates, LLC, exercise shared voting and dispositive control over these shares.

Sentiment

Score: 6

Explanation: The filing reports a standard, expected capital structure event (preferred stock conversion) by a significant insider. It is neutral to slightly positive as it simplifies the capital structure and confirms a major investor's continued stake, but offers no new operational or financial insights.

Positives

• The conversion of preferred stock into common stock simplifies Ambiq Micro's capital structure, which can be viewed favorably by public investors.
• The continued significant ownership by a prominent venture capital firm like Kleiner Perkins (a 10% owner and director) indicates ongoing commitment and belief in the company's long-term prospects.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing represents a routine insider transaction related to the capital structure of a company that has undergone an initial public offering. It reflects the typical process of venture capital investors converting their preferred equity stakes into common stock upon a liquidity event, aligning their interests more directly with public shareholders.

Related Party Transactions

• The conversion of preferred stock into common stock involves KPCB XVI Associates, LLC and Kleiner Perkins Caufield & Byers XVI, LLC, which are related parties as 10% owners and directors of Ambiq Micro, Inc.

Stakeholder Impact

• Shareholders: The conversion simplifies the capital structure by eliminating preferred stock, potentially making the company's equity easier to analyze and understand for public investors. It also confirms the continued significant stake of a major institutional investor.

Key Dates

Recommendation

This Form 4 filing details a routine conversion of preferred stock to common stock by a significant insider, which is an expected event typically associated with an IPO. It does not provide new fundamental information about Ambiq Micro's operational performance, financial health, or future prospects that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as the filing itself does not present a compelling reason to buy or sell.

Keywords

Ambiq Micro, AMBQ, KPCB, Kleiner Perkins, Form 4, beneficial ownership, preferred stock conversion, common stock, insider transaction, 10% owner, capital structure