Form 4: Rubrik Director Enrique Salem Reports Conversion of Preferred Stock to Common Stock Following IPO

Enrique Salem, a director at Rubrik, Inc., reported the conversion of Series E Preferred Stock to Class B Common Stock and subsequent holdings of Class A Common Stock following the company's initial public offering.

Summary

• Enrique Salem, a director of Rubrik, Inc., filed a Form 4 with the SEC detailing changes in his beneficial ownership of the company's securities.
• The filing reports the conversion of 2,759,640 shares of Series E Preferred Stock into Class B Common Stock on April 29, 2024, immediately prior to Rubrik's IPO.
• These Class B Common Stock shares then convert into Class A Common Stock.
• Salem's ownership is indirect, held through Bain Capital Venture Entities, where he shares voting and dispositive power as a Partner of Bain Capital Venture Investors, LLC.
• He disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to an IPO. It doesn't contain overtly positive or negative information, but the IPO itself is generally a positive event.

Industry Context

Form 4 filings are standard practice following significant events like IPOs, providing transparency into the holdings of company insiders.

Key Dates