Form 4: Sequoia Capital Distributes Unity Software Shares to Partners
SEC Form 4
Sequoia Capital distributed Unity Software shares pro rata to its partners and members across various funds, resulting in changes in beneficial ownership.
Summary
- This Form 4 filing details changes in beneficial ownership of Unity Software Inc. common stock by Sequoia Capital and related entities.
- The transactions involve a pro rata distribution of Unity Software shares to partners or members of the distributing funds for no consideration.
- These distributions occurred on May 14, 2024, and May 16, 2024.
- The reporting entities include SC US (TTGP), Ltd., Sequoia Capital Fund, LP, Sequoia Capital Fund Parallel, LLC, and several other Sequoia Capital funds and related entities.
- The distributions resulted in both disposals and acquisitions of shares by the reporting entities, with the net effect being a change in the amount of securities beneficially owned.
- For example, Sequoia Capital Fund, LP acquired 12,695,003 shares and now beneficially owns 28,746,492 shares.
- Sequoia Capital Fund Parallel, LLC acquired 1,479,681 shares on May 14, 2024, resulting in beneficial ownership of 3,620,981 shares, and then disposed of 2,311 shares on May 16, 2024, resulting in beneficial ownership of 3,618,670 shares.
- Douglas Leone and James Goetz, as directors and stockholders of SC US (TTGP), Ltd., may be deemed to share voting and dispositive power with respect to shares held by certain funds.
- The reporting persons disclaim beneficial ownership of the shares held by the various funds, except to the extent of their pecuniary interest therein.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing share distributions, with no inherent positive or negative sentiment.
Industry Context
This type of distribution is common among venture capital firms to allocate shares to their limited partners.
Stakeholder Impact
- The distribution of shares may have a minor impact on the overall shareholder base of Unity Software Inc.
Key Dates
| Date | Description |
|---|---|
| 05/14/2024 | Pro rata distribution of Common Stock of the Issuer to partners or members of the applicable distributing fund |
| 05/16/2024 | Pro rata distribution of Common Stock of the Issuer to partners or members of the applicable distributing fund |
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