07/02/2026 | Press release | Distributed by Public on 07/02/2026 15:35
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Performance Stock Units (Rule of 40) | (2) | (3) | (3) | Class A Common Stock | 157,953(4) | 157,953(4) | D | ||||||||
| Restricted Stock Units | (5) | (6) | (6) | Class A Common Stock | 368,557(7) | 368,557(7) | D | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Kangwankij Patti 180 GRAND AVENUE 6TH FLOOR OAKLAND, CA 94612 |
Chief Financial Officer | |||
| /s/ Tracy Foard, Attorney-in-Fact | 07/02/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | The number of shares beneficially owned reflects the 1-for-4 reverse stock split effected June 30, 2026 (the "Reverse Stock Split"). Cash was paid in lieu of any fractional shares resulting from the Reverse Stock Split. |
| (2) | Each performance stock unit ("PSU") is convertible into one share of Class A Common Stock. |
| (3) | Represents the number of shares which may be issued at target under the PSU, granted March 16, 2026, over a period of time following achievement of certain gross profit and adjusted EBITDA targets as set forth in the applicable PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. At maximum achievement, 200% of the shares would vest, |
| (4) | The number of shares subject to PSUs reflects the Reverse Stock Split. |
| (5) | Each restricted stock unit ("RSU") is convertible into one share of Class A Common Stock. |
| (6) | This RSU grant, originally granted March 16, 2026 for 157,953 RSUs (post Reverse Stock Split), of which no RSUs (post Reverse Stock Split) have vested, vests as to one-third (1/3rd) of the RSUs on March 1, 2027 and one-twelfth (1/12th) of the remaining restricted stock units vest quarterly on each June 1, September 1, December 1 and March 1 thereafter, subject to the Reporting Person's continued service to the Issuer as of each vesting date. |
| (7) | The number of shares subject to RSUs reflects the Reverse Stock Split. |