Form 4: Ibotta's Chief Technology Officer, Luke Roy Swanson, Sells Shares in IPO
SEC Form 4
Luke Roy Swanson, Chief Technology Officer of Ibotta, Inc., reports the sale of 140,538 shares of Class A Common Stock at $88.00 per share following the company's IPO.
Summary
- Luke Roy Swanson, the Chief Technology Officer of Ibotta, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates that Swanson sold 140,538 shares of Class A Common Stock at a price of $88.00 per share on April 22, 2024, as part of the company's IPO.
- Prior to the IPO, Swanson held 800,461 shares of Common Stock and 45,045 shares indirectly through Flat Tops Ventures, LLC.
- These shares were reclassified into Class A Common Stock immediately before the IPO.
- Following the reported transaction, Swanson directly owns 659,923 shares of Class A Common Stock.
- Swanson also holds various employee stock options with different exercise prices and vesting schedules.
- The shares held by Flat Tops Ventures, LLC are 1% owned by Swanson and 99% owned by the Swanson 2021 Irrevocable Trust for the benefit of his children.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions.
Industry Context
This Form 4 filing is a standard requirement for corporate insiders following an IPO, providing transparency into their transactions and ownership positions.
Stakeholder Impact
- The sale of shares by a key executive could be perceived differently by stakeholders; some may see it as a lack of confidence, while others may view it as a normal part of wealth diversification after an IPO.
Key Dates
| Date | Description |
|---|---|
| 01/08/2021 | 1/48th of the shares subject to one of the options vested on this date. |
| 08/15/2021 | 1/48th of the shares subject to one of the options vested on this date. |
| 02/03/2022 | 1/36th of the shares subject to one of the options vested on this date. |
| 02/16/2023 | 1/48th of the shares subject to one of the options vested on this date. |
| 04/17/2024 | Ibotta entered into an Underwriting Agreement with underwriters for the IPO. |
| 04/22/2024 | Date of the reported transaction: Swanson sold shares and Common Stock was reclassified into Class A Common Stock. |
| 01/25/2028 | Expiration date for some employee stock options. |
| 11/13/2028 | Expiration date for some employee stock options. |
| 12/11/2029 | Expiration date for some employee stock options. |
| 12/08/2030 | Expiration date for some employee stock options. |
| 07/15/2031 | Expiration date for some employee stock options. |
| 02/08/2032 | Expiration date for some employee stock options. |
| 03/07/2033 | Expiration date for some employee stock options. |
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