Form 4: Freshworks Director Sameer Gandhi Reports Share Distributions

Director Sameer Gandhi reports distributions of Freshworks Inc. Class A Common Stock by investment entities to their respective partners, with no consideration received.

Summary

• On August 27, 2024, Sameer Gandhi, a director of Freshworks Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report indicates distributions of Class A Common Stock by Accel India III (Mauritius) Ltd. (AIN3M) and Accel Growth FII (Mauritius) Ltd. (AGF2M) to their partners.
• Each entity distributed 1,000,000 shares of Class A common stock.
• These distributions were made pro rata, representing each partner's interest in the shares, and without consideration.
• The distributions are reported in accordance with exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.
• Gandhi also reported holdings in various other entities including Accel Leaders 3 L.P., Accel Leaders 3 Entrepreneurs L.P., Accel Leaders 3 Investors (2020) L.P., Accel Leaders Holdings (Mauritius) Ltd., Accel Leaders II Holdings (Mauritius) Ltd., and Accel India IV (Mauritius) Ltd.
• Gandhi disclaims beneficial ownership of shares held by The Potomac Trust and Potomac Investments L.P. except to the extent of his pecuniary interest.
• The report also details indirect ownership of Class B Common Stock, which can be converted into Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing share distributions. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This filing indicates internal restructuring within investment entities holding Freshworks shares, rather than direct buying or selling by the director.

Stakeholder Impact

• The share distributions may have a minor impact on the shareholder base, as the shares are being distributed to the partners of the investment entities.
• The distributions do not directly impact employees, customers, suppliers, or creditors.

Key Dates