Form 4: OneStream Director John Kinzer Sells Common Units in Post-IPO Transaction

Director John Kinzer reports the sale of Common Units to OneStream, Inc. following its initial public offering.

Summary

• On July 25, 2024, John Kinzer, a director of OneStream, Inc., sold 22,644 Common Units to the company for $18.85 per unit.
• This transaction occurred as part of OneStream's initial public offering (IPO), where the company used a portion of the IPO proceeds to purchase Common Units from pre-IPO equity holders.
• Kinzer also forfeited 22,644 shares of Class C Common Stock, which were canceled without consideration, corresponding to the number of Common Units sold.
• Following the transaction, Kinzer indirectly owns 400,997 shares of Class D Common Stock through the John E. Kinzer Trust.
• These Common Units can be redeemed for Class D Common Stock on a 1:1 basis, which in turn can be converted into Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a standard post-IPO transaction. The director is reducing their holdings of common units, but still retains a significant indirect ownership position.

Future Outlook

The Class D Common Stock is convertible at any time into Class A Common Stock on a 1:1 basis, and each share will automatically convert on the first trading day following the seventh anniversary of the IPO.

Industry Context

This Form 4 filing is a standard disclosure following an IPO, where pre-IPO equity holders adjust their holdings as part of the company's transition to a publicly traded entity. Such transactions are common and provide transparency into insider activity.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in publicly traded companies, ensuring transparency in their transactions.
• The conversion features of Class D Common Stock into Class A Common Stock are structured to align long-term incentives, a common practice in newly public companies.
• Similar transactions occur across various companies post-IPO, such as those seen with executives at Snowflake or Databricks, where early investors and employees adjust their holdings.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider transactions.
• The sale of Common Units and forfeiture of Class C Common Stock have no immediate impact on employees, customers, suppliers, or creditors.

Key Dates