Form 4: Rubrik Director Asheem Chandna Reports Significant Share Acquisition Following Predibase Merger

Rubrik, Inc. Director and 10% Owner Asheem Chandna reported the acquisition of 384,022 Class A Common Stock shares through Greylock entities, stemming from the merger of Predibase, Inc. into a Rubrik subsidiary.

Summary

• Asheem Chandna, a Director and 10% Owner of Rubrik, Inc. (RBRK), reported changes in beneficial ownership of Class A Common Stock.
• On July 18, 2025, a total of 384,022 shares of Class A Common Stock were acquired indirectly through three Greylock Limited Partnerships: Greylock 16 Limited Partnership (345,623 shares), Greylock 16-A Limited Partnership (12,287 shares), and Greylock 16 Principals Limited Partnership (26,112 shares).
• These shares were issued in exchange for preferred stock of Predibase, Inc. in connection with the merger of Predibase into a wholly-owned subsidiary of Rubrik, Inc.
• The closing price of Rubrik's Class A common stock on the effective date of the merger (July 18, 2025) was $88.11 per share, valuing the acquired shares at approximately $33.84 million.
• Following these transactions, Asheem Chandna's beneficial ownership includes 848,889 shares held directly and 425,857 shares held indirectly through various trusts and the Greylock entities, totaling 1,274,746 shares.
• Asheem Chandna, as a managing member of Greylock 16 GP LLC (the general partner of the Greylock LPs), disclaims beneficial ownership of the shares held by the Greylock entities, except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it reports a significant acquisition and a substantial increase in a director's beneficial ownership, indicating strategic growth and alignment of interests, despite being a non-cash transaction.

Positives

• Rubrik completed the acquisition of Predibase, Inc., indicating strategic growth and expansion.
• The issuance of Rubrik Class A Common Stock as consideration for the merger demonstrates confidence in Rubrik's equity value.
• A significant increase in beneficial ownership by a director and 10% owner, even if indirect and through a merger, can signal alignment of interests with long-term company success.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding Rubrik's future performance or strategic direction beyond the completed merger.

Industry Context

This filing reflects ongoing consolidation and strategic acquisitions within the technology and software sectors, where companies like Rubrik are expanding their capabilities through mergers to enhance their product offerings and market position. The acquisition of Predibase suggests Rubrik's interest in leveraging Predibase's technology or market presence.

Related Party Transactions

• The shares were acquired by Greylock entities, where the reporting person, Asheem Chandna, is a managing member of the general partner (Greylock 16 GP LLC). While the transaction itself is an acquisition of a third-party company (Predibase), the reporting of shares through these entities highlights the indirect beneficial ownership structure related to the director.

Stakeholder Impact

• Shareholders of Rubrik: The acquisition of Predibase could enhance Rubrik's product portfolio and market competitiveness, potentially leading to long-term value creation.
• Former Shareholders of Predibase: Received Rubrik Class A Common Stock as consideration for their Predibase preferred stock, indicating a successful exit for Predibase investors.

Key Dates

Keywords

Rubrik, RBRK, Predibase, Merger, Acquisition, Insider Transaction, Beneficial Ownership, Form 4, Greylock Partners, Class A Common Stock