08/18/2026 | Press release | Distributed by Public on 08/18/2026 16:39
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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 | ||||||||
| Class B Common Stock | (1) | 06/24/2026 | C | 1,391,131 | (22) | (22) | Class A Common Stock | 1,391,131 | (1) | 12,520,174 | I | By Foundation Capital VIII, L.P.(2) | |||
| Class B Common Stock | (1) | 06/24/2026 | C | 29,963 | (22) | (22) | Class A Common Stock | 29,963 | (1) | 269,664 | I | By Foundation Capital VIII Principals Fund, LLC(3) | |||
| Class B Common Stock | (1) | 06/24/2026 | C | 109,141 | (22) | (22) | Class A Common Stock | 109,141 | (1) | 982,270 | I | By Foundation Capital Leadership Fund II, L.P.(4) | |||
| Class B Common Stock | (1) | 08/14/2026 | C | 347,782 | (22) | (22) | Class A Common Stock | 347,782 | (1) | 12,172,392 | I | By Foundation Capital VIII, L.P.(2) | |||
| Class B Common Stock | (1) | 08/14/2026 | C | 7,490 | (22) | (22) | Class A Common Stock | 7,490 | (1) | 262,174 | I | By Foundation Capital VIII Principals Fund, LLC(3) | |||
| Class B Common Stock | (1) | 08/14/2026 | C | 27,285 | (22) | (22) | Class A Common Stock | 27,285 | (1) | 954,985 | I | By Foundation Capital Leadership Fund II, L.P.(4) | |||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Vassallo Steven C/O FOUNDATION CAPITAL 550 HIGH STREET, 3RD FLOOR PALO ALTO, CA 94301 |
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| /s/ Steven Vassallo | 08/18/2026 | |
| **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) | Each share of Class B Common Stock was converted into one share of Class A Common Stock for no additional consideration. |
| (2) | Securities are directly held by Foundation Capital VIII, L.P. ("FC8"). Foundation Capital Management Co. VIII, L.L.C. ("FCM8") is the general partner of FC8. The Reporting Person is a manager of FCM8 and may be deemed to beneficially own such shares. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein. |
| (3) | Securities are directly held by Foundation Capital VIII Principals Fund, L.L.C. ("FC8P"). Foundation Capital Management Co. VIII, L.L.C. ("FCM8") is the manager of FC8P. The Reporting Person is a manager of FCM8 and may be deemed to beneficially own such shares. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein. |
| (4) | Securities are directly held by Foundation Capital Leadership Fund II, L.P. ("FCLF2"). Foundation Capital Management Co. LF II, L.L.C. ("FCMLF2") is the general partner of FCLF2. The Reporting Person is a manager of FCMLF2 and may be deemed to beneficially own such shares. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein. |
| (5) | Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by FC8 to its general partner and limited partners without additional consideration. |
| (6) | Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by FC8P to its general partner and limited partners without additional consideration. |
| (7) | Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by FCLF2 to its general partner and limited partners without additional consideration. |
| (8) | Represents receipt of shares in the distributions in kind described in footnotes (5) and (6). |
| (9) | Securities are directly held by FCM8. The Reporting Person is a manager of FCM8 and may be deemed to beneficially own such shares. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein. |
| (10) | Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by FCM8 to its members without additional consideration. |
| (11) | Represents receipt of shares in the distribution in kind described in footnote (7). |
| (12) | Securities are directly held by FCMLF2. The Reporting Person is a manager of FCMLF2 and may be deemed to beneficially own such shares. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein. |
| (13) | Represents receipt of shares in the distributions in kind described in footnotes (6) and (10). |
| (14) | The securities are held by a revocable family trust, of which the Reporting Person is a co-trustee. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his proportionate pecuniary interest therein. |
| (15) | Represents receipt of shares in the distribution in kind described in footnote (10). |
| (16) | The securities are held by an irrevocable GST trust, of which the Reporting Person is a co-trustee. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. |
| (17) | The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $215.79 to $216.78 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote. |
| (18) | The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $216.87 to $217.86 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote. |
| (19) | The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $217.90 to $218.89 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote. |
| (20) | The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $218.90 to $219.89 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote. |
| (21) | The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $219.90 to $220.15 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote. |
| (22) | Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder and does not expire. |