Form 4: Petrus Trust Company Distributes Shares, Resulting in Conversion of Cricut, Inc. Common Stock

Petrus Employee Profit Share, L.P. distributed shares of Class B Common Stock, leading to the conversion of some shares to Class A Common Stock of Cricut, Inc.

Summary

• On March 22, 2024, Petrus Employee Profit Share, L.P. (PAM2) distributed 970,378 shares of Class B Common Stock to its limited partners, who are employees of Petrus Asset Management Company.
• This distribution was made without consideration and in accordance with PAM2's partnership agreement.
• As a result of the distribution, 683,265 shares of Class B Common Stock automatically converted into 683,265 shares of Class A Common Stock.
• The remaining 287,113 shares remained as Class B Common Stock.
• The distribution is exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934.
• Petrus Trust Company, LTA, PAM Partners GP, LLC, and Petrus Employee Profit Share, L.P. are the reporting entities.
• Each reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.

Sentiment

Score: 7

Explanation: The document describes a routine transaction related to employee compensation and equity ownership. There is no indication of any negative or concerning events.

Industry Context

This filing reflects routine transactions related to employee compensation and equity ownership adjustments, which are common in publicly traded companies.

Stakeholder Impact

• The distribution of shares impacts the employees of Petrus Asset Management Company who are the limited partners of PAM2.
• The conversion of shares affects the overall share structure of Cricut, Inc.

Key Dates