SCHEDULE: Greylock Funds Update Rubrik Ownership Stake
Beneficial Ownership Report
Greylock entities filed an amended Schedule 13G, detailing their beneficial ownership of Rubrik Class B Common Stock, which carries significant voting power.
Summary
- Greylock XIV Limited Partnership, Greylock XIV-A Limited Partnership, Greylock XIV Principals LLC, and Greylock XIV GP LLC are the reporting entities.
- These entities collectively beneficially own 4,973,830 shares of Rubrik, Inc.'s Class B Common Stock.
- Each Class B share is convertible into one Class A share and is entitled to 20 votes per share, whereas each Class A share is entitled to one vote per share.
- As of May 31, 2025, Rubrik had 123,563,326 shares of Class A Common Stock and 69,930,024 shares of Class B Common Stock outstanding.
- Greylock XIV GP LLC's aggregate holding represents approximately 3.87% of the outstanding Class A Common Stock (on an as-converted basis) and 6.54% of the aggregate combined voting power of Class A and Class B Common Stock.
Sentiment
Score: 5
Explanation: Neutral, as this is a routine ownership disclosure and does not contain performance or strategic updates about the company.
Risks
- Rubrik, Inc.'s dual-class share structure, where Class B Common Stock carries 20 votes per share compared to Class A Common Stock's one vote, concentrates significant voting power with Class B holders, potentially limiting the influence of Class A shareholders.
Future Outlook
This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding Rubrik, Inc.'s future performance or outlook.
Industry Context
This Schedule 13G filing is a routine disclosure of beneficial ownership by a venture capital firm in a technology company, reflecting ongoing institutional investment in the sector. It does not provide broader industry trends or competitive analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Share Structure Disclosure | Rubrik, Inc. operates with a dual-class share structure, where Class B Common Stock provides 20 votes per share compared to Class A Common Stock's single vote. This structure concentrates significant voting power with Class B holders. | N/A | This structure allows founders and early investors to maintain control over the company's strategic direction despite potentially holding a minority economic interest, which can limit the influence of public Class A shareholders on corporate governance matters. |
Stakeholder Impact
- Shareholders: Class A shareholders have significantly less voting power compared to Class B shareholders due to the 20:1 voting ratio, which may dilute their influence on corporate decisions.
Key Dates
| Date | Description |
|---|---|
| 05/31/2025 | Date for outstanding Class A and Class B share counts as reported in Rubrik's Quarterly Report on Form 10-Q. |
| 06/09/2025 | Date Rubrik's Quarterly Report on Form 10-Q was filed with the SEC. |
| 06/30/2025 | Date of event which required the filing of this statement. |
| 08/14/2025 | Date this Schedule 13G Amendment No. 3 was signed and filed. |
Keywords
Rubrik, Greylock, Schedule 13G, beneficial ownership, Class A Common Stock, Class B Common Stock, voting power, institutional ownership, SEC filing
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