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 Accel-affiliated entities to their respective partners, along with adjustments to beneficial ownership.

Summary

• On September 6, 2024, Sameer Gandhi, a director of Freshworks Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• 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 on September 4, 2024.
• These distributions were made for no consideration and represented each partner's pro rata interest in the shares.
• The distributions are reported to be in accordance with exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.
• Gandhi also reported adjustments to shares held by various Accel-affiliated entities, including Accel Leaders 3 L.P., Accel Leaders 3 Entrepreneurs L.P., and Accel Leaders 3 Investors (2020) L.P.
• Additionally, the report reflects shares held by The Potomac Trust and Potomac Investments L.P. Fund 1, for which Gandhi disclaims beneficial ownership except to the extent of his pecuniary interest.
• The report also details indirect ownership through Accel Leaders Holdings (Mauritius) Ltd., Accel Leaders II Holdings (Mauritius) Ltd., and Accel India IV (Mauritius) Ltd.
• The total number of Class A Common Stock beneficially owned following the reported transactions is 45,287 shares directly and 3,934,692 shares indirectly.
• The total number of Class B Common Stock beneficially owned following the reported transactions is 18,134,340 shares indirectly.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing detailing stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders and their potential impact on the stock market.

Stakeholder Impact

• The distributions of shares by Accel-affiliated entities could potentially increase the number of individual shareholders.
• The filing provides transparency to shareholders regarding insider transactions.

Key Dates