Form 4: Root, Inc. President and CTO Mahtiyar Bonakdarpour Reports Changes in Beneficial Ownership

Mahtiyar Bonakdarpour, President and CTO of Root, Inc., reports the withholding of Class A Common Stock by the issuer to cover tax obligations related to vesting restricted stock units.

Summary

• On November 1, 2024, Mahtiyar Bonakdarpour, President and CTO of Root, Inc., had shares of Class A Common Stock withheld by the issuer to satisfy tax withholding obligations.
• A total of 67, 245, and 83 shares were withheld at a price of $71.01 each.
• Following these transactions, Bonakdarpour directly owns 287,181 shares of Class A Common Stock.
• Bonakdarpour also has indirect beneficial ownership of 168,444 shares held by 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).

Sentiment

Score: 5

Explanation: This is a neutral report on stock transactions related to tax obligations, with no inherent positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure related to stock-based compensation and tax obligations, common in publicly traded companies.

Stakeholder Impact

• The transaction has a minor impact on the total number of shares outstanding, but is primarily related to internal compensation and tax matters.

Key Dates