Form 4: Root, Inc. Executive Mahtiyar Bonakdarpour Reports Stock Transaction

Mahtiyar Bonakdarpour, President and CTO of Root, Inc., reports the withholding of shares to cover tax obligations and indirect ownership through Drive Capital funds.

Summary

• On January 2, 2025, Mahtiyar Bonakdarpour, President and CTO of Root, Inc., had 1,242 Class A Common Stock shares withheld by the issuer to cover tax obligations related to vesting restricted stock units at a price of $73.43 per share.
• Following the transaction, Bonakdarpour directly owns 285,939 shares of Class A Common Stock.
• Bonakdarpour also has indirect ownership of 168,444 shares through Drive Capital Overdrive Fund I, L.P. (DCOF I), Drive Capital Overdrive Fund I (TE), L.P. (DCOF I TE), and Drive Capital Overdrive Ignition Fund I, L.P. (DCOIF I).
• The reporting person disclaims beneficial ownership of any of these shares except to the extent of his spouse's pecuniary interest therein.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to stock transactions, with no inherent positive or negative sentiment. It reflects standard compensation practices.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax withholding procedure related to vested stock units.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a common practice.

Key Dates