Form 4: Rubrik Director Asheem Chandna Reports Share Distributions and Transfers

Asheem Chandna, a director at Rubrik, Inc., reported a series of transactions involving the distribution and transfer of Class A and Class B Common Stock, including pro-rata in-kind distributions to partners and members of affiliated funds.

Summary

• On December 11, 2024, Asheem Chandna reported the acquisition of 4,476,447 shares of Class A Common Stock and Class B Common Stock indirectly through Greylock XIV Limited Partnership.
• Additionally, 248,691 shares of Class A Common Stock and Class B Common Stock were acquired indirectly through both Greylock XIV-A Limited Partnership and Greylock XIV Principals LLC on the same date.
• On December 19, 2024, a pro-rata, in-kind distribution resulted in the disposal of 4,476,447 shares held by Greylock XIV Limited Partnership, 248,691 shares held by Greylock XIV-A Limited Partnership, and 248,691 shares held by Greylock XIV Principals LLC.
• On the same date, Asheem Chandna acquired 280,034 shares of Class A Common Stock directly and 2,324 shares indirectly through the Chandna Children's Trust, as well as 11,621 shares indirectly through The Revocable Trust of Asheem Chandna and Aarti Chandna.
• These transactions involved distributions made in accordance with exemptions afforded by Rules 16a-9 and 16a-13 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing share transactions, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency regarding insider transactions.
• Similar filings are common among directors and officers of companies like Snowflake, Datadog, and CrowdStrike, reflecting routine adjustments in their holdings.
• The pro-rata distribution is a common mechanism for distributing shares to partners in venture capital firms like Greylock, aligning with standard practices in the investment industry.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the redistribution of shares.
• The pro-rata distribution impacts the partners and members of the affiliated funds.

Key Dates