Form 4: Ravi Gupta Reports Pro Rata Distribution of Maplebear Inc. (CART) Common Stock

Ravi Gupta, a director and 10% owner of Maplebear Inc. (CART), reported a pro rata distribution of common stock to partners or members of distributing funds on September 5, 2024.

Summary

• On September 5, 2024, Ravi Gupta, a director and 10% owner of Maplebear Inc. (CART), filed a Form 4 indicating changes in beneficial ownership.
• The reported transactions involve a pro rata distribution of common stock to partners or members of various Sequoia Capital funds for no consideration.
• These distributions include subsequent transfers by general partners or managing members to their respective partners or members.
• Gupta disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
• The transactions involved multiple Sequoia Capital entities, including Sequoia Capital USV XIV Holdco, Ltd., Sequoia Capital U.S. Growth Fund VI, L.P., Sequoia Grove II, LLC, Sequoia Capital Fund, LP, and others.
• The total number of shares disposed of due to the pro rata distribution was 920,556.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It reports a pro rata distribution of shares, which is a common practice and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

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

Stakeholder Impact

• The pro rata distribution may slightly dilute existing shareholders' ownership percentages, but the impact is likely minimal.

Key Dates