Form 4: Director Jared Jacobs Reports Ownership Changes Post-IPO

Once Upon a Farm Director Jared Jacobs reported significant changes in beneficial ownership following the company's initial public offering, including preferred stock conversions and RSU grants.

Summary

• Jared Noah Jacobs, a Director of Once Upon a Farm, PBC, filed a Form 4 detailing changes in beneficial ownership.
• The changes occurred on February 9, 2026, coinciding with the closing of the Issuer's initial public offering (IPO).
• Various series of preferred stock (Series A-2, B-1, B-2, C-1, D) held by CAVU Venture Partners II L.P., CAVU Venture Partners III L.P., and TNG Investors LP automatically converted into common stock for no additional consideration.
• CAVU Venture Partners II L.P. acquired 7,411,502 shares of common stock through this conversion.
• TNG Investors LP acquired 107,749 shares of common stock through conversion, bringing its total beneficial ownership to 646,478 shares.
• CAVU Venture Partners III L.P. acquired 2,274,219 shares of common stock through conversion.
• Jared Noah Jacobs was directly granted 6,112 restricted stock units (RSUs) in connection with the IPO.
• The RSUs will vest fully on the earlier of the first anniversary of the IPO closing or the next annual meeting of stockholders, subject to continued service on the Board of Directors.
• The reporting person disclaims beneficial ownership of the securities held by the various funds except to the extent of his pecuniary interest therein.
• Proceeds from any sale of shares issued upon RSU vesting are contractually obligated to be remitted to CAVU Consumer Partners, LLC.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, reflecting the successful completion of the IPO and the alignment of a director's interests with shareholders through equity grants, which are standard post-IPO procedures.

Positives

• The company successfully completed its initial public offering (IPO) on February 9, 2026, marking a significant corporate milestone.
• Director Jared Noah Jacobs received 6,112 restricted stock units (RSUs), which aligns his interests with those of public shareholders through equity incentives.

Negatives

• No specific negative financial or operational details were disclosed in this filing, as it primarily reports changes in beneficial ownership.

Risks

• The reporting person disclaims beneficial ownership of the securities held indirectly through CAVU Venture Partners II L.P., CAVU Venture Partners III L.P., CAVU Venture Partners IV L.P., and TNG Investors LP, except to the extent of his pecuniary interest.
• The reporting person is contractually obligated to remit the proceeds of any sale of shares issued upon vesting of restricted stock units to CAVU Consumer Partners, LLC, which may limit his direct financial benefit from these specific equity grants.

Future Outlook

The 6,112 restricted stock units granted to Director Jared Noah Jacobs are set to vest fully on the earlier of the first anniversary of the IPO closing or the next annual meeting of stockholders, contingent on his continued service on the Board of Directors.

Management Comments

• Director Jared Noah Jacobs reported changes in his beneficial ownership following the company's initial public offering.
• The preferred stock held by entities associated with Mr. Jacobs automatically converted into common stock upon the IPO closing.
• Mr. Jacobs was granted restricted stock units in connection with the IPO, subject to specific vesting conditions.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard post-IPO for directors and significant shareholders, detailing the conversion of pre-IPO preferred equity into common stock and the granting of equity incentives like RSUs to align management interests with public shareholders. This is a typical step in the transition from a private to a public company.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure following an IPO, detailing the conversion of preferred shares and the grant of restricted stock units to a director. Such equity grants are common practice in the industry to incentivize long-term commitment and performance, comparable to practices seen in recent food and beverage IPOs like Oatly Group AB (OTLY) or Beyond Meat, Inc. (BYND) where founders and early investors convert their stakes and receive new equity incentives.

Related Party Transactions

• Jared Noah Jacobs is a Partner at CAVU Consumer Partners LLC, which is the investment manager of the CAVU Venture Partners funds and TNG Investors LP, indicating a related party relationship for the reported indirect beneficial ownership.
• The reporting person is contractually obligated to remit the proceeds of any sale of shares issued upon vesting of restricted stock units to CAVU Consumer Partners, LLC.

Stakeholder Impact

• Shareholders: The IPO and subsequent conversion of preferred stock to common stock impacts the overall share structure and liquidity. The grant of RSUs to a director aligns management incentives with shareholder value.

Next Steps

• Vesting of 6,112 restricted stock units on the earlier of the first anniversary of the IPO closing or the next annual meeting of stockholders, subject to continued service.

Key Dates

Recommendation

This Form 4 filing primarily details the expected conversion of preferred stock into common stock and the grant of restricted stock units to a director following the company's initial public offering. These are standard post-IPO events and do not provide new fundamental information about the company's operational performance or future prospects that would warrant a change in investment thesis. Investors should 'hold' and await further financial disclosures for a more comprehensive evaluation.

Keywords

Once Upon a Farm, OFRM, SEC Form 4, Insider Transaction, Beneficial Ownership, IPO, Restricted Stock Units, Preferred Stock Conversion, Director, CAVU Venture Partners