Form 4: Lightspeed SPV I-B, LLC Reports In-Kind Distribution of Rubrik, Inc. Shares

Lightspeed SPV I-B, LLC reported an in-kind distribution of Rubrik, Inc. Class A Common Stock and Class B Common Stock to its limited partners.

Summary

• Lightspeed SPV I-B, LLC reported an in-kind distribution of 764,208 shares of Class A Common Stock and 764,208 shares of Class B Common Stock.
• Lightspeed SPV I-C, LLC also reported an in-kind distribution of 534,945 shares of Class A Common Stock and 534,945 shares of Class B Common Stock.
• These distributions were made without consideration to their respective limited partners.
• The transactions occurred on January 15, 2025.
• The reporting entities include Lightspeed SPV I-B, LLC, Lightspeed SPV I-C, LLC, LS SPV Management, LLC, Barry Eggers, and Peter Nieh.
• Various other entities associated with Lightspeed Venture Partners also hold significant amounts of Class B Common Stock convertible to Class A Common Stock.

Sentiment

Score: 6

Explanation: The document is a routine SEC filing related to share distribution, which is neither positive nor negative. It's a standard process for venture capital firms.

Risks

• The in-kind distribution of shares could potentially increase the number of shares available in the market, which could have an impact on the stock price.
• The complex ownership structure involving multiple Lightspeed entities could make it difficult to track the ultimate beneficial ownership of the shares.

Industry Context

This filing reflects the ongoing management of shareholdings by venture capital firms like Lightspeed, which is a common activity after a company goes public. The distribution of shares to limited partners is a typical mechanism for returning capital to investors.

Comparison to Industry Standards

• Venture capital firms like Lightspeed often distribute shares to their limited partners after an IPO, which is a standard practice.
• The in-kind distribution is a common method for transferring shares without a direct sale on the open market, similar to distributions seen with other venture-backed companies.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement for insiders and significant shareholders.

Stakeholder Impact

• The distribution of shares may have a minor impact on the stock price due to the increased availability of shares.
• Limited partners of Lightspeed SPV I-B and I-C will receive shares of Rubrik, Inc.

Key Dates

Keywords

Rubrik, Lightspeed, SPV, Class A Common Stock, Class B Common Stock, in-kind distribution, beneficial ownership, SEC Form 4