Form 4: Rubrik Director Ravi Mhatre Reports Changes in Beneficial Ownership

Ravi Mhatre, a director at Rubrik, Inc., filed a Form 4 detailing changes in beneficial ownership of Class A and Class B Common Stock due to in-kind distributions and conversions.

Summary

• On September 11, 2024, Ravi Mhatre, a director at Rubrik, Inc., reported changes in beneficial ownership of the company's stock.
• The changes involve Class A Common Stock and Class B Common Stock.
• The transactions include acquisitions and dispositions of shares due to in-kind distributions by Lightspeed Venture Partners and related entities.
• Mhatre disclaims beneficial ownership of the shares except to the extent of his pecuniary interest.
• The report details holdings by various Lightspeed entities, including Lightspeed Venture Partners IX, L.P., Lightspeed Venture Partners Select II, L.P., and Lightspeed SPV I, LLC.
• The report also mentions holdings by Lightspeed General Partner IX, L.P., Lightspeed General Partner Select II, L.P., Lightspeed Management Company, L.L.C., Mhatre Investments LP Fund 2, and Mhatre Investments LP Fund 3.
• 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 changes in stock ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. This filing indicates changes in ownership among key stakeholders, particularly venture capital firms like Lightspeed, which is common after a company goes public.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, as mandated by the SEC.
• The transactions described, involving in-kind distributions to partners and members of venture capital funds, are typical post-IPO activities as funds distribute shares to their investors.
• Similar filings can be observed for insiders and major shareholders of companies like Snowflake, Datadog, and CrowdStrike, especially those with significant venture capital backing.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• The transactions may have implications for the trading volume and price of Rubrik's stock, although the direct impact is likely to be minimal given the nature of the transactions.

Key Dates