Form 4: Andreessen Horowitz Funds Report Changes in Beneficial Ownership of Samsara Inc. (IOT) Shares

Andreessen Horowitz and related entities report the acquisition and disposition of Samsara Inc. Class A Common Stock on March 10, 2025, impacting their beneficial ownership.

Summary

• Andreessen Horowitz LSV Fund I, L.P. acquired 219,698 shares of Class A Common Stock through conversion at $0.00 on March 10, 2025.
• AH Parallel Fund V, L.P. acquired 73,233 shares of Class A Common Stock through conversion at $0.00 on March 10, 2025.
• Andreessen Horowitz LSV Fund I, L.P. disposed of 169,818 shares of Class A Common Stock at a weighted average price of $34.06 on March 10, 2025.
• AH Parallel Fund V, L.P. disposed of 56,606 shares of Class A Common Stock at a weighted average price of $34.06 on March 10, 2025.
• Andreessen Horowitz LSV Fund I, L.P. disposed of 49,880 shares of Class A Common Stock at a weighted average price of $34.62 on March 10, 2025.
• AH Parallel Fund V, L.P. disposed of 16,627 shares of Class A Common Stock at a weighted average price of $34.62 on March 10, 2025.
• The reported transactions involve multiple entities affiliated with Andreessen Horowitz, including various LSV Funds and Parallel Funds.
• Benjamin Horowitz, as a managing member of the general partners of these funds, may be deemed to have shared voting and dispositive power over the shares.
• The reporting persons disclaim beneficial ownership of the securities held by the AH LSV Fund I Entities, AH Parallel Fund V Entities, AH LSV Fund III Entities, and AH Fund IV Entities, except to the extent of their pecuniary interest therein.
• This Form 4 is one of three filings related to the same event, reporting holdings for multiple Andreessen Horowitz entities and Benjamin Horowitz.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. The sentiment is neutral as it primarily reports facts without expressing opinions or predictions.

Negatives

• The document indicates the sale of a significant number of shares by Andreessen Horowitz funds, which could be interpreted negatively by the market.

Risks

• The disclaimer of beneficial ownership by the reporting persons, except to the extent of their pecuniary interest, could create uncertainty regarding the actual control and influence over the shares.
• The multiple entities involved and the complex relationships between them could make it difficult to track the overall ownership and trading activity of Andreessen Horowitz in Samsara Inc.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market regarding their transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are a regulatory requirement for individuals and entities deemed insiders, such as officers, directors, and significant shareholders, to report transactions in their company's stock.
• The level of detail provided in this Form 4, including weighted average prices and disclaimers of beneficial ownership, is consistent with industry standards for these types of filings.
• Similar filings can be observed for other companies with significant venture capital or private equity ownership, such as those held by Sequoia Capital, Tiger Global Management, or SoftBank.

Stakeholder Impact

• The transactions reported may influence investor sentiment and potentially impact the stock price of Samsara Inc.
• The changes in ownership may be of interest to other shareholders and stakeholders monitoring the investment activity of major shareholders like Andreessen Horowitz.

Key Dates