Form 4: ICONIQ Capital's Matthew Jacobson Reports Changes in Gitlab Inc. Beneficial Ownership
SEC Form 4 Filing
Matthew Jacobson, affiliated with ICONIQ Capital, reports the conversion and distribution of Gitlab Inc. Class B and Class A common stock.
Summary
- On March 6, 2024, ICONIQ Strategic Partners III, L.P. converted 1,579,947 shares of Gitlab's Class B Common Stock into Class A Common Stock.
- ICONIQ Strategic Partners III, L.P. then distributed 564,657 shares of Class A Common Stock to its limited partners and ICONIQ Strategic Partners GP III, L.P.
- ICONIQ Strategic Partners III-B, L.P. also converted 1,688,193 shares of Class B Common Stock into Class A Common Stock on the same date.
- ICONIQ Strategic Partners III-B, L.P. distributed 603,343 shares of Class A Common Stock to its limited partners and ICONIQ Strategic Partners GP III, L.P.
- These distributions were made without consideration and in accordance with exemptions under the Securities Exchange Act of 1934.
- Matthew Jacobson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing transactions, and does not inherently convey positive or negative sentiment. It's a neutral report of ownership changes.
Industry Context
This filing reflects standard transactions related to investment fund management and distribution of assets to limited partners, common in the venture capital and private equity industries.
Comparison to Industry Standards
- The conversion and distribution of shares are typical activities for venture capital funds like ICONIQ Strategic Partners as they manage their investments in companies like Gitlab.
- Similar transactions are routinely reported by other investment firms such as Sequoia Capital, Andreessen Horowitz, and Tiger Global Management when they adjust their holdings in portfolio companies.
Stakeholder Impact
- The distribution of shares may have a minor impact on the shareholder base of Gitlab Inc.
Key Dates
| Date | Description |
|---|---|
| 03/06/2024 | Date of the transactions involving conversion and distribution of Class A and Class B Common Stock. |
| 03/08/2024 | Date of signature for the SEC Form 4 filing. |
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