Form 4: Freshworks Inc. Director Sameer Gandhi Reports Share Distributions and Ownership Changes

Director Sameer Gandhi reports distributions of Freshworks Inc. Class A common stock by investment funds and changes in beneficial ownership.

Summary

• On September 9, 2024, Sameer Gandhi, a director and 10% owner of Freshworks Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• Accel India III (Mauritius) Ltd. (AIN3M) distributed 1,250,000 shares of Class A common stock to its partners.
• Accel Growth FII (Mauritius) Ltd. (AGF2M) also distributed 1,250,000 shares of Class A common stock to its partners.
• These distributions were made without consideration, representing each partner's pro rata interest.
• The distributions were made in accordance with exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.
• The report also reflects shares distributed to limited partners or members of applicable entities.
• Gandhi disclaims beneficial ownership of certain shares held by The Potomac Trust and Potomac Investments L.P. except to the extent of his pecuniary interest.
• The report details shares held by various Accel-related entities, including Accel Leaders 3 L.P., Accel Leaders Holdings (Mauritius) Ltd., Accel Leaders II Holdings (Mauritius) Ltd., and Accel India IV (Mauritius) Ltd.
• Each share of Class B Common Stock will automatically convert into one share of Class A Common Stock upon sale or transfer.
• The filing indicates the number of derivative securities (Class B Common Stock) beneficially owned indirectly by Gandhi through various entities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing share distributions and ownership changes, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• Shareholders are informed about changes in ownership structure.
• The filing provides transparency regarding the holdings of major shareholders and directors.

Key Dates