Form 4: Rubrik Director Yvonne Wassenaar Reports Stock Unit Conversion
SEC Form 4 Filing
Director Yvonne Wassenaar of Rubrik, Inc. reports the conversion of restricted stock units into Class A and Class B common stock.
Summary
- Yvonne Wassenaar, a director at Rubrik, Inc., filed a Form 4 detailing changes in her beneficial ownership of company stock.
- The filing reports the conversion of 16,668 restricted stock units (RSUs) into 16,668 shares of Class B Common Stock on December 17, 2024.
- These Class B shares will automatically convert into Class A Common Stock upon sale or transfer, or at the director's option.
- The director also reports holding 50,000 shares of Class A Common Stock after the transaction.
- The RSUs vested over time, with the final vesting condition being met upon the company's IPO.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to stock ownership by a director, which is generally neutral to positive. The vesting of RSUs tied to the IPO is a positive sign of company progress.
Positives
- The conversion of RSUs to common stock indicates the director's long-term commitment to the company.
- The vesting of RSUs was tied to the company's IPO, which is a positive milestone.
Industry Context
This filing is a routine disclosure of stock ownership changes by a company director, which is common practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The vesting schedule of the RSUs is typical for technology companies, with vesting tied to service and company milestones such as an IPO.
- The conversion of Class B shares to Class A shares upon sale or transfer is a common structure to maintain control by insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it is a routine conversion of existing equity.
Key Dates
| Date | Description |
|---|---|
| 12/15/2022 | 1/3 of the shares subject to the RSU vested on this date. |
| 12/17/2024 | Date of the reported transaction where restricted stock units were converted to Class B Common Stock. |
| 12/19/2024 | Date the Form 4 was signed. |
| 11/01/2028 | Expiration date of the Restricted Stock Units. |
Keywords
Form 4, Rubrik, stock units, beneficial ownership, director, Class A Common Stock, Class B Common Stock, RSU, conversion
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