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Filing Details

Accession Number:: 0000899243-20-030215
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-11-03 16:05:10
Reporting Period:: 2020-10-30

Accepted Time:: 2020-11-03 16:05:10
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1788882	Root Inc.	ROOT	State Commercial Banks (6022)	DE

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
719739	Group Financial Svb	3003 Tasman Drive Santa Clara CA 95054		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2020-10-30	12,540,250	$0.00	12,540,250	No	4	C	Indirect	See Footnote
Class A Common Stock	Disposition	2020-10-30	1,254,025	$25.52	11,286,225	No	4	S	Indirect	See Footnote
Class A Common Stock	Acquisiton	2020-10-30	3,120,530	$0.00	3,120,530	No	4	C	Indirect	See Footnote
Class A Common Stock	Disposition	2020-10-30	312,530	$25.52	2,808,000	No	4	S	Indirect	See Footnote
Class A Common Stock	Acquisiton	2020-10-30	500,000	$0.81	500,000	No	4	X	Direct
Class A Common Stock	Acquisiton	2020-10-30	97,960	$0.37	597,960	No	4	X	Direct
Class A Common Stock	Disposition	2020-10-30	597,960	$25.52	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	See Footnote
No	4	S	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	S	Indirect	See Footnote
No	4	X	Direct
No	4	X	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class B Common Stock	Series B Preferred Stock	Disposition	2020-10-30	8,379,540	$0.00	8,379,540	$0.00
Class B Common Stock	Series C Preferred Stock	Disposition	2020-10-30	4,160,710	$0.00	4,160,710	$0.00
Class B Common Stock	Series C Preferred Stock	Disposition	2020-10-30	3,120,530	$0.00	3,120,530	$0.00
Class B Common Stock	Series A-3 Preferred Warrant (Right to Buy)	Disposition	2020-10-30	500,000	$0.00	500,000	$0.29
Class B Common Stock	Series B Preferred Warrant (Right to Buy)	Disposition	2020-10-30	97,960	$0.00	97,960	$0.81

Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
	No	4	C	Indirect
	No	4	C	Indirect
	No	4	C	Indirect
2026-07-07	No	4	X	Direct
2027-12-20	No	4	X	Direct

Footnotes

Each share of Series B Preferred Stock and Series C Preferred Stock (a) automatically converted into shares of Class B Common Stock at the applicable conversion ratio set forth in the Issuer's certificate of incorporation immediately prior to the completion of the Issuer's initial public offering of Class B Common Stock and (b) has no expiration date.
Each outstanding share of Class B Common Stock held by the Reporting Person converted into one share of Class A Common Stock following the completion of the Issuer's initial public offering.
These securities are held directly by Capital Partners III, L.P.. The Reporting Person is the managing member of SVB Capital Partners III, LLC, the general partner of Capital Partners III, L.P.. The Reporting Person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
These securities are held directly by Venture Overage Fund, L.P.. The Reporting Person is the managing member of SVB Capital Venture Overage, LLC, the general partner of the Reporting Person. The Reporting Person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
The Series A-3 Preferred Warrant and the Series B Preferred Warrant are exercisable in full within 60 days of the date hereof.
The Reporting Person is a reporting company listed on the Nasdaq Global Select Market. Certain employees of Silicon Valley Bank, a wholly-owned subsidiary of the Reporting Person, have voting and dispositive power with respect to these shares.