Form 4: Lightspeed Venture Partners Distributes Rubrik Shares In-Kind

Lightspeed Venture Partners IX, L.P. reports an in-kind distribution of Rubrik, Inc. Class A Common Stock to its partners, resulting in changes in beneficial ownership.

Summary

• Lightspeed Venture Partners IX, L.P. filed a Form 4 detailing changes in beneficial ownership of Rubrik, Inc. (RBRK) Class A Common Stock.
• The filing indicates an in-kind distribution of shares by Lightspeed IX, Lightspeed Select II, and Lightspeed SPV I to their respective partners and members without direct consideration.
• These distributions resulted in a decrease in the direct holdings of Class A Common Stock by Lightspeed IX from 4,440,000 to 0 shares.
• Similarly, indirect holdings through Lightspeed Venture Partners Select II, L.P. and Lightspeed SPV I, LLC also decreased due to in-kind distributions.
• The filing also reflects changes in holdings by Lightspeed General Partner IX, L.P., Lightspeed General Partner Select II, L.P., Lightspeed Management Company, L.L.C., Eggers Investments LP Fund 2, Nieh Family Investments LP Fund 2, and Nieh Family Investments LP Fund 4.
• The document outlines the relationships between various Lightspeed entities and their general partners, including Lightspeed General Partner IX, L.P. (LGP IX) and Lightspeed Ultimate General Partner IX, Ltd. (LUGP IX).
• Barry Eggers, Ravi Mhatre, and Peter Nieh are identified as directors or managing members of several Lightspeed entities and share voting and dispositive power over the shares.
• The filing clarifies that these individuals disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.
• Class B Common Stock is convertible into Class A Common Stock under certain conditions.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing share distributions, with no inherent positive or negative sentiment. It's a factual report of transactions.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market.

Stakeholder Impact

• The in-kind distribution of shares may have a minor impact on the shareholder base of Rubrik, Inc.

Key Dates