0001209191-23-045423.txt : 20230811 0001209191-23-045423.hdr.sgml : 20230811 20230811160945 ACCESSION NUMBER: 0001209191-23-045423 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230809 FILED AS OF DATE: 20230811 DATE AS OF CHANGE: 20230811 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Bonakdarpour Mahtiyar CENTRAL INDEX KEY: 0001913361 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39658 FILM NUMBER: 231164147 MAIL ADDRESS: STREET 1: 80 E. RICH STREET, SUITE 500 CITY: COLUMBUS STATE: OH ZIP: 43215 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Root, Inc. CENTRAL INDEX KEY: 0001788882 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 842717903 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 80 E RICH STREET STREET 2: SUITE 500 CITY: COLUMBUS STATE: OH ZIP: 43215 BUSINESS PHONE: (614) 591-4568 MAIL ADDRESS: STREET 1: 80 E RICH STREET STREET 2: SUITE 500 CITY: COLUMBUS STATE: OH ZIP: 43215 FORMER COMPANY: FORMER CONFORMED NAME: Root Stockholdings, Inc. DATE OF NAME CHANGE: 20190919 4 1 doc4.xml FORM 4 SUBMISSION X0508 4 2023-08-09 0 0001788882 Root, Inc. ROOT 0001913361 Bonakdarpour Mahtiyar C/O ROOT, INC. 80 E. RICH STREET, SUITE 500 COLUMBUS OH 43215 0 1 0 0 Chief Technology Officer 0 Class A Common Stock 2023-08-09 4 A 0 72316 0.00 A 283065 D Class A Common Stock 168444 I See Footnote Performance-Based Restricted Stock Units 2023-08-09 4 A 0 143476 0.00 A 2028-04-01 Class A Common Stock 143476 143476 D Represents the grant of restricted stock units ("RSUs"). The shares subject to the RSUs vest on the following schedule: 16,031 on April 1, 2025; 24,399 on April 1, 2026; 31,886 on April 1, 2027. These shares are held by Drive Capital Overdrive Fund I, L.P. ("DCOF I") (112,469), Drive Capital Overdrive Fund I (TE), L.P. ("DCOF I TE") (54,382), and Drive Capital Overdrive Ignition Fund I, L.P. ("DCOIF I") (1,593). Drive Capital Overdrive Fund I (GP), LLC ("DCOIF I GP"), the general partner of each of DCOF I, DCOF I TE and DEOIF I, may be deemed to have sole power to vote these shares. The Reporting Person's spouse does not have voting or investment control over these shares but may be deemed to have an indirect pecuniary interest in such shares through her carried interest in DCOIF I GP. The Reporting Person's exact pecuniary interest is not readily determinable because it is subject to several variables. The Reporting Person disclaims beneficial ownership of any of these shares except to the extent of his spouse's pecuniary interest therein. Each Performance-Based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of ROOT Class A common stock. The PSUs vest in tranches of 14,348 on April 1, 2024; 28,695 on April 1, 2025; 43,043 on April 1, 2026; and 57,390 on April 1, 2027 and upon ROOT Class A common stock achieving a specified price per share over 45 consecutive trading days after such dates. Per share price achievement levels for the four tranches are: $16.76; $25.14; $33.52; and $41.90. /s/ Jodi Baker, Attorney-in-fact 2023-08-11