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

Mahtiyar Bonakdarpour, President and CTO of Root, Inc., reports the withholding of shares to cover tax obligations related to vesting restricted stock units.

Summary

• On August 1, 2024, Mahtiyar Bonakdarpour, President and CTO of Root, Inc., had shares of Class A Common Stock withheld by the issuer to satisfy tax obligations.
• A total of 67, 246 and 83 shares were withheld at a price of $57.74 per share.
• Following these transactions, Bonakdarpour directly owns 289,246 shares of Class A Common Stock.
• Bonakdarpour also has indirect ownership of 168,444 shares through Drive Capital Overdrive Fund I, L.P. and related entities.
• 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 Form 4 filing is a routine disclosure of stock transactions related to tax obligations. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This is a routine filing related to executive compensation and tax obligations. It is common for companies to withhold shares to cover taxes associated with the vesting of restricted stock units.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they relate to tax obligations of an executive.

Key Dates