Form 4: Eventbrite CPO Ted Dworkin Sells Shares Post-Merger

Eventbrite's Chief Product Officer, Ted Dworkin, reported the disposition of all his Class A common stock, restricted stock units, and stock options following the company's merger with Bending Spoons US Inc.

Summary

• Ted Dworkin, Chief Product Officer of Eventbrite, Inc., reported changes in his beneficial ownership.
• The changes occurred on March 10, 2026, due to the merger of Eventbrite, Inc. with Merger Sub, a wholly-owned subsidiary of Bending Spoons US Inc.
• At the effective time of the merger, Eventbrite became a wholly-owned subsidiary of Bending Spoons US Inc.
• Each share of Eventbrite Class A and Class B common stock was converted into the right to receive $4.50 in cash.
• Dworkin disposed of 529,335 and 606,704 shares of Class A Common Stock, resulting in 0 shares beneficially owned.
• Outstanding restricted stock units were cancelled and converted into cash based on the number of shares underlying the RSU multiplied by the $4.50 merger consideration.
• Stock options with an exercise price exceeding the $4.50 merger consideration were cancelled and converted into a cash payment of $225,064.11, calculated using a Black-Scholes model.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as positive for the reporting person, as it confirms the successful cash-out of all equity holdings at a pre-determined merger price, including a payout for out-of-the-money options.

Positives

• The reporting person received cash for all equity holdings (common stock, RSUs, and out-of-the-money options) as part of the merger consideration.
• The merger provided a clear exit strategy and liquidity for equity holders at $4.50 per share.
• Out-of-the-money options, which would typically be worthless, were converted into a cash payment of $225,064.11.

Negatives

• The reporting person no longer holds any direct beneficial ownership in Eventbrite, Inc.
• The company is now a wholly-owned subsidiary, implying it is no longer publicly traded, removing future public market upside for previous shareholders.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4.

Industry Context

StockSavvy.ai notes that this Form 4 confirms the completion of Eventbrite's acquisition by Bending Spoons, a move consistent with the ongoing consolidation trends in the event technology and broader software-as-a-service (SaaS) sectors, where larger players or private equity often acquire public companies for strategic integration or to take them private.

Comparison to Industry Standards

• The $4.50 per share merger consideration for Eventbrite (EB) can be compared to recent take-private transactions in the SaaS or event management space. For instance, the acquisition premium and valuation multiples (e.g., EV/Revenue) would typically be assessed against similar deals like Cvent's acquisition by Blackstone or Vista Equity Partners' acquisition of various software companies.
• The Black-Scholes valuation for out-of-the-money options, resulting in a $225,064.11 payout, is a standard practice in M&A to compensate option holders, even if the options are technically underwater, reflecting the intrinsic value or a negotiated settlement.

Stakeholder Impact

• Shareholders: Public shareholders received $4.50 per share in cash, losing their equity stake in Eventbrite.
• Employees (with equity): Employees holding RSUs and options, like the reporting person, had their equity awards converted to cash.
• Company (Eventbrite): Eventbrite is now a wholly-owned subsidiary of Bending Spoons US Inc., no longer a publicly traded entity.

Key Dates

Keywords

Eventbrite, EB, Ted Dworkin, Form 4, Merger, Acquisition, Bending Spoons, Stock Transaction, Beneficial Ownership, Chief Product Officer, Equity Disposal, Cash Out