Form 4: Tempus AI CEO Eric Lefkofsky Reports Changes in Beneficial Ownership Following IPO

Following Tempus AI's IPO, CEO Eric Lefkofsky reports changes in beneficial ownership due to the conversion of preferred stock and pro rata distributions to members of investment entities he manages.

Summary

• Eric Lefkofsky, CEO and Chairman of Tempus AI, Inc., filed a Form 4 detailing changes in beneficial ownership of Class A Common Stock following the company's IPO.
• The transactions occurred on June 17, 2024, and involve the conversion of preferred stock into Class A Common Stock and pro rata distributions of securities by various investment entities managed by Lefkofsky to their members.
• These entities include Tempus Series A Investments, LLC, Innovation Group Investors, L.P., Lightbank Investments 1B, LLC, Blue Media, LLC, Gray Media, LLC, Tempus Series B Investments, LLC, Tempus Series B-1 Investments, LLC, Tempus Series B-2 Investments, LLC and Tempus Series C Investments, LLC.
• The report indicates both acquisitions and dispositions of Class A Common Stock, with the reporting person's indirect ownership through these entities changing as a result of the IPO and subsequent distributions.
• Accrued and unpaid dividends on preferred stock were paid in shares of Class A Common Stock upon the IPO closing.
• The filing covers transactions involving millions of shares, reflecting the complex ownership structure and the impact of the IPO on the holdings of related entities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in stock ownership, so it has a neutral sentiment.

Industry Context

Form 4 filings are standard practice for company insiders following significant events like an IPO, providing transparency into changes in ownership.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of Tempus AI following its IPO.
• It informs stakeholders about the holdings of key insiders and related entities.

Key Dates