Form 4: Root Inc. Executive Mahtiyar Bonakdarpour Reports Changes in Beneficial Ownership

Mahtiyar Bonakdarpour, President and CTO of Root, Inc., reports transactions involving Class A Common Stock and Performance-Based Restricted Stock Units.

Summary

• On April 1, 2024, Mahtiyar Bonakdarpour had shares withheld by Root, Inc. to cover tax obligations related to vesting restricted stock units.
• Specifically, 1,669 shares were withheld at $60.52 per share, and another 4,922 shares were withheld at the same price.
• On April 2, 2024, 14,348 shares were acquired through the exercise of Performance-Based Restricted Stock Units (PSUs) at a price of $0.
• Additionally, 6,507 shares were withheld at $62.08 per share to cover tax obligations.
• Following these transactions, Bonakdarpour directly owns 291,706 shares of Class A Common Stock and indirectly owns 168,444 shares through Drive Capital Overdrive Fund I, L.P. and related entities.
• Bonakdarpour also directly owns 129,128 Performance-Based Restricted Stock Units.

Sentiment

Score: 5

Explanation: This is a neutral filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in executive stock ownership.
• The tax withholding impacts the executive's net compensation.

Key Dates