Form 4: GC Venture VIII Distributes Samsara Inc. Class A Common Stock to Partners After Conversion

GC Venture VIII, LLC is distributing 3,943,716 shares of Samsara Inc. Class A Common Stock to its general and limited partners following the conversion of Class B Common Stock.

Summary

• GC Venture VIII, LLC is distributing 3,943,716 shares of Samsara Inc.'s Class A Common Stock to its general and limited partners.
• This distribution follows the conversion of Class B Common Stock to Class A Common Stock on a 1:1 basis.
• The transaction occurred on March 19, 2024.
• The reporting entities include GC Venture VIII, LLC, General Catalyst Group VIII, L.P., GC Venture VIII-B, LLC, General Catalyst Group X Endurance, L.P., and General Catalyst Group XI Endurance, L.P.
• These entities are affiliated through various general partner and management relationships within the General Catalyst structure.
• General Catalyst Group XI Endurance, L.P. directly holds 2,000,000 shares of Class A Common Stock.
• General Catalyst Group VIII, L.P. directly holds 11,187,815 shares of Class B Common Stock convertible to Class A Common Stock.
• GC Venture VIII-B, LLC directly holds 8,588,813 shares of Class B Common Stock convertible to Class A Common Stock.
• General Catalyst Group X Endurance, L.P. directly holds 4,520,428 shares of Class B Common Stock convertible to Class A Common Stock.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to a distribution of shares, indicating a neutral sentiment. It reflects routine transactions within the investment structure of General Catalyst.

Future Outlook

GC Venture VIII, LLC plans to distribute the shares of Class A Common Stock to its partners promptly following the conversion.

Industry Context

This filing reflects standard practice for venture capital firms distributing shares to their limited partners after a conversion event. It's a routine part of managing fund investments and returning capital to investors.

Comparison to Industry Standards

• Venture capital firms like Sequoia Capital, Andreessen Horowitz, and Accel Partners often distribute shares to their limited partners after IPOs or other liquidity events.
• The pro-rata distribution of shares is a common practice to ensure fair allocation among partners based on their investment commitments.
• The reporting requirements under Section 16(a) of the Securities Exchange Act are standard for entities holding more than 10% of a company's shares.

Stakeholder Impact

• The distribution of shares may impact the holdings of the partners of GC Venture VIII, LLC.
• The conversion and distribution do not directly impact Samsara Inc.'s operations or financial condition.

Key Dates