Rubrik (RBRK): Lightspeed Distributes 9.6M Shares via Form 4

Q: What type of transactions did Lightspeed report in Rubrik (RBRK) Form 4?

Code C conversions of Class B to Class A shares and Code J in-kind distributions among related entities; no open-market trades.

Q: How many Rubrik Class A shares did Lightspeed Venture Partners IX distribute?

Lightspeed IX converted and then distributed 4,440,000 Class A shares, ending with zero direct holdings.

Q: Was any cash paid for the shares reported in the Form 4?

No. All entries list a $0 price, indicating non-cash internal transfers.

Q: Did Lightspeed funds remain 10 % owners after these transactions?

Several funds鈥� direct stakes fell to 0 shares; some affiliated entities still collectively own ~766,000 shares.

Q: What do transaction codes "C" and "J" mean in this filing?

"C" denotes conversion of Class B into Class A; "J" denotes other, in-kind distributions to partners or affiliates.

[Form 4] Redfin Corporation Insider Trading Activity

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Rubrik, Inc. (RBRK) 鈥� Lightspeed Form 4 dated 06/30/2025

The filing covers a complex series of internal equity movements among multiple Lightspeed Venture Partners funds and affiliated entities that are each listed as 10% owners of Rubrik. All transactions occurred on 06/26/2025 and involve two basic steps:

Code C 鈥� Conversions: A total of 9,641,000 shares of Class B were automatically converted, one-for-one, into the same number of Class A shares (no cash consideration).
Code J 鈥� Distributions/Other: The newly issued Class A shares were then largely distributed in-kind from the venture funds to their general partners, management companies, or individual partners. These distributions also carried no cash consideration.

Key size metrics reported in Table I:

Lightspeed Venture Partners IX: 4,440,000 Class A shares received, then distributed, ending balance 0.
Lightspeed SPV I / I-B / I-C: Combined 4,170,000 Class A shares received and then distributed, each ending balance 0.
Lightspeed Venture Partners Select II: 1,031,000 shares converted and subsequently distributed, ending balance 0.
Receiving entities (e.g., Lightspeed Management Company L.L.C., Eggers Investments LP-Fund 2, Nieh Family Investments vehicles) now collectively hold ~766,000 Class A shares.

There was no open-market purchase or sale; the transactions merely shift ownership among related parties. Several Lightspeed funds no longer hold Rubrik shares directly, while individual partners and affiliated management companies now hold modest blocks. These internal realignments could increase Rubrik鈥檚 freely transferable Class A float, but no immediate sale obligation is disclosed.

Rubrik, Inc. (RBRK) 鈥� Lightspeed Form 4, 2025雲� 6鞗� 30鞚检瀽

鞚� 鞝滌稖靹滊電� 鞐煬 Lightspeed Venture Partners 韼€霌� 氚� 瓿勳棿靷� 臧勳潣氤奠灐頃� 雮措秬歆€攵� 鞚措彊鞚� 雼る（氅�, 臧侁皝鞚€ Rubrik鞚� 10% 靻岇湢欤茧 霌膘灛霅橃柎鞛堨姷雼堧嫟. 氇摖瓯半灅電� 2025雲� 6鞗� 26鞚检棎氚滌儩頄堨溂氅� 霊� 臧€歆€ 旮半掣雼硠搿� 鞚措（鞏挫牳鞛堨姷雼堧嫟:

旖旊摐 C 鈥� 鞝勴櫂: 齑� 9,641,000欤� 韥措灅鞀� B臧€ 鞛愲彊鞙茧 1:1 牍勳湪搿� 霃欖澕頃� 靾橃潣韥措灅鞀� A 欤检嫕鞙茧 鞝勴櫂霅橃棃鞀惦媹雼�(順勱笀雽€臧€ 鞐嗢潓).
旖旊摐 J 鈥� 氚半秳/旮绊儉: 靸堧 氚滍枆霅� 韥措灅鞀� A 欤检嫕鞚€ 氩れ矘韼€霌滌棎靹� 攴鸽摛鞚� 鞚茧皹韺岉姼雱�, 甏€毽� 須岇偓霕愲姅臧滊硠韺岉姼雱堨棎瓴� 欤茧 順勲搿� 氚半秳霅橃棃鞀惦媹雼�. 鞚� 氚半秳鞐嫓順勱笀雽€臧€臧€ 鞐嗢棃鞀惦媹雼�.

響� I鞐� 氤搓碃霅� 欤检殧攴滊 歆€響�:

Lightspeed Venture Partners IX: 4,440,000 韥措灅鞀� A 欤检嫕靾橂牴頉� 氚半秳, 斓滌 鞛旍暋 0.
Lightspeed SPV I / I-B / I-C: 齑� 4,170,000 韥措灅鞀� A 欤检嫕靾橂牴氚� 氚半秳, 臧� 鞛旍暋 0.
Lightspeed Venture Partners Select II: 1,031,000欤� 鞝勴櫂頉� 氚半秳, 斓滌 鞛旍暋 0.
靾橂牴旮瓣磤(鞓�: Lightspeed Management Company L.L.C., Eggers Investments LP-Fund 2, Nieh 臧€臁� 韴瀽彀焿)鞚€ 順勳灛鞎� 766,000 韥措灅鞀� A 欤检嫕鞚� 歆戫暕鞝侅溂搿� 氤挫湢欷�.

鞁滌灔雮� 瓿店皽毵るГ電� 鞐嗢棃鞙茧┌, 瓯半灅電� 雼 甏€霠� 雼轨偓鞛� 臧� 靻岇湢甓� 鞚措彊鞐� 攵堦臣頃╇媹雼�. 鞐煬 Lightspeed 韼€霌滊姅雿� 鞚挫儊歆侅爲 Rubrik 欤检嫕鞚� 氤挫湢頃橃 鞎婌溂氅�, 臧滊硠韺岉姼雱� 氚� 瓿勳棿甏€毽� 須岇偓臧€ 靻岆焿鞚� 欤检嫕鞚� 氤挫湢頃橁碃鞛堨姷雼堧嫟. 鞚措煬頃� 雮措秬鞛“鞝曥潃 Rubrik鞚� 鞛愳湢搿矊鞏戨弰臧€電ロ暅韥措灅鞀� A 欤检嫕鞙犿喌氍茧焿鞚� 電橂Υ 靾� 鞛堨溂雮�, 歃夑皝鞝侅澑毵る弰鞚橂電� 瓿店皽霅橃 鞎婌晿鞀惦媹雼�.

Rubrik, Inc. (RBRK) 鈥� Formulaire Lightspeed 4 dat茅 du 30/06/2025

Le d茅p么t couvre une s茅rie complexe de mouvements internes d鈥檃ctions entre plusieurs fonds Lightspeed Venture Partners et entit茅s affili茅es, chacune 茅tant list茅e comme d茅tentrice de 10% de Rubrik. Toutes les transactions ont eu lieu le 26/06/2025 et impliquent deux 茅tapes principales :

Code C 鈥� Conversions : Un total de 9 641 000 actions de Classe B ont 茅t茅 automatiquement converties, 脿 raison d鈥檜ne action de Classe B pour une action de Classe A (sans contrepartie en esp猫ces).
Code J 鈥� Distributions/Autres : Les actions de Classe A nouvellement 茅mises ont ensuite 茅t茅 principalement distribu茅es en nature des fonds de capital-risque vers leurs partenaires g茅n茅raux, soci茅t茅s de gestion ou partenaires individuels. Ces distributions n鈥檕nt 茅galement donn茅 lieu 脿 aucune contrepartie en esp猫ces.

M茅triques cl茅s rapport茅es dans le Tableau I :

Lightspeed Venture Partners IX : 4 440 000 actions de Classe A re莽ues puis distribu茅es, solde final 0.
Lightspeed SPV I / I-B / I-C : au total 4 170 000 actions de Classe A re莽ues puis distribu茅es, chacun avec un solde final de 0.
Lightspeed Venture Partners Select II : 1 031 000 actions converties puis distribu茅es, solde final 0.
Les entit茅s b茅n茅ficiaires (par exemple, Lightspeed Management Company L.L.C., Eggers Investments LP-Fund 2, v茅hicules d鈥檌nvestissement de la famille Nieh) d茅tiennent d茅sormais collectivement environ 766 000 actions de Classe A.

Il n鈥檡 a eu aucun achat ou vente sur le march茅 ouvert ; les transactions ne font que transf茅rer la propri茅t茅 entre parties li茅es. Plusieurs fonds Lightspeed ne d茅tiennent plus directement des actions Rubrik, tandis que des partenaires individuels et soci茅t茅s de gestion affili茅es d茅tiennent d茅sormais des blocs modestes. Ces r茅alignements internes pourraient augmenter le flottant librement transf茅rable des actions de Classe A de Rubrik, mais aucune obligation de vente imm茅diate n鈥檈st divulgu茅e.

Positive

Conversion clarifies capital structure: 9.6 million Class B shares converted to Class A, simplifying Rubrik鈥檚 share classes.
No cash outflow or insider sales: Transactions are non-cash internal transfers, avoiding direct market selling pressure at the time of filing.

Negative

Potential share overhang: ~9.6 million newly free Class A shares are now held by entities more likely to liquidate positions.
Reduced insider alignment: Several Lightspeed funds, previously 10 % owners, now report zero direct Rubrik holdings.

Insights

TL;DR: Large internal share conversions and distributions; no cash, no open-market selling; key Lightspeed funds鈥� direct stakes fall to zero.

The filing shows 9.6 million Class B shares converted into Class A and immediately distributed among Lightspeed affiliates. Transaction codes C and J confirm non-cash internal transfers, so no direct price discovery occurred. Nevertheless, the structural shift removes several venture funds as direct 10 % holders, potentially signaling portfolio exit planning. Newly created Class A blocks totalling ~9.6 million shares are now dispersed among smaller entities and individuals, marginally boosting Rubrik鈥檚 float and reducing voting concentration. Because the shares were not sold, the near-term impact on trading dynamics is limited; however, the overhang risk inches higher if recipients decide to liquidate.

TL;DR: Venture fund distributions increase potential supply; ownership concentration drops; medium overhang risk, but no immediate cash sales.

From a liquidity-risk standpoint, the conversion of super-voting Class B into single-vote Class A eliminates conversion uncertainty and paves the way for smoother eventual divestitures. The fact that the originating funds now hold zero shares suggests Lightspeed is preparing to exit Rubrik, transferring residual exposure to GP vehicles and partners who may have shorter investment horizons. Approximately 9.6 million additional Class A shares鈥攐ver 5 % of Rubrik鈥檚 estimated public float鈥攃an now be freely sold once any lock-ups expire. While not an outright negative event, the dilution of insider alignment and the latent selling pressure warrant monitoring.

Rubrik, Inc. (RBRK) 鈥� Lightspeed Form 4, 2025雲� 6鞗� 30鞚检瀽

旖旊摐 C 鈥� 鞝勴櫂: 齑� 9,641,000欤� 韥措灅鞀� B臧€ 鞛愲彊鞙茧 1:1 牍勳湪搿� 霃欖澕頃� 靾橃潣韥措灅鞀� A 欤检嫕鞙茧 鞝勴櫂霅橃棃鞀惦媹雼�(順勱笀雽€臧€ 鞐嗢潓).
旖旊摐 J 鈥� 氚半秳/旮绊儉: 靸堧 氚滍枆霅� 韥措灅鞀� A 欤检嫕鞚€ 氩れ矘韼€霌滌棎靹� 攴鸽摛鞚� 鞚茧皹韺岉姼雱�, 甏€毽� 須岇偓霕愲姅臧滊硠韺岉姼雱堨棎瓴� 欤茧 順勲搿� 氚半秳霅橃棃鞀惦媹雼�. 鞚� 氚半秳鞐嫓順勱笀雽€臧€臧€ 鞐嗢棃鞀惦媹雼�.

響� I鞐� 氤搓碃霅� 欤检殧攴滊 歆€響�:

Lightspeed Venture Partners IX: 4,440,000 韥措灅鞀� A 欤检嫕靾橂牴頉� 氚半秳, 斓滌 鞛旍暋 0.
Lightspeed SPV I / I-B / I-C: 齑� 4,170,000 韥措灅鞀� A 欤检嫕靾橂牴氚� 氚半秳, 臧� 鞛旍暋 0.
Lightspeed Venture Partners Select II: 1,031,000欤� 鞝勴櫂頉� 氚半秳, 斓滌 鞛旍暋 0.
靾橂牴旮瓣磤(鞓�: Lightspeed Management Company L.L.C., Eggers Investments LP-Fund 2, Nieh 臧€臁� 韴瀽彀焿)鞚€ 順勳灛鞎� 766,000 韥措灅鞀� A 欤检嫕鞚� 歆戫暕鞝侅溂搿� 氤挫湢欷�.

Rubrik, Inc. (RBRK) 鈥� Formulaire Lightspeed 4 dat茅 du 30/06/2025

Code C 鈥� Conversions : Un total de 9 641 000 actions de Classe B ont 茅t茅 automatiquement converties, 脿 raison d鈥檜ne action de Classe B pour une action de Classe A (sans contrepartie en esp猫ces).
Code J 鈥� Distributions/Autres : Les actions de Classe A nouvellement 茅mises ont ensuite 茅t茅 principalement distribu茅es en nature des fonds de capital-risque vers leurs partenaires g茅n茅raux, soci茅t茅s de gestion ou partenaires individuels. Ces distributions n鈥檕nt 茅galement donn茅 lieu 脿 aucune contrepartie en esp猫ces.

M茅triques cl茅s rapport茅es dans le Tableau I :

Lightspeed Venture Partners IX : 4 440 000 actions de Classe A re莽ues puis distribu茅es, solde final 0.
Lightspeed SPV I / I-B / I-C : au total 4 170 000 actions de Classe A re莽ues puis distribu茅es, chacun avec un solde final de 0.
Lightspeed Venture Partners Select II : 1 031 000 actions converties puis distribu茅es, solde final 0.
Les entit茅s b茅n茅ficiaires (par exemple, Lightspeed Management Company L.L.C., Eggers Investments LP-Fund 2, v茅hicules d鈥檌nvestissement de la famille Nieh) d茅tiennent d茅sormais collectivement environ 766 000 actions de Classe A.

06/30/2025 - 09:29 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Slavet James

(Last)

(First)

(Middle)

C/O REDFIN CORPORATION

1099 STEWART STREET, SUITE 600

(Street)

SEATTLE

98101

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Redfin Corp [ RDFN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/26/2025		M		17,080	A	⁽¹⁾	309,867	D
Common Stock	06/26/2025		M		3,767⁽²⁾	A	⁽¹⁾	313,634	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽¹⁾	06/26/2025		M			17,080	⁽³⁾	⁽⁴⁾	Common Stock	17,080	$0	0	D
Phantom Stock	⁽¹⁾	06/26/2025		M			3,767	⁽²⁾	⁽⁴⁾	Common Stock	3,767	$0	0	D

Explanation of Responses:

1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis upon settlement.

2. Represents 3,767 shares of Redfin Corporation's ("the Company") common stock in respect of RSUs that previously vested, for which settlement was deferred pursuant to the Company's director deferral program until the earlier of (i) the reporting person's termination of service with the Company and (ii) a change in control of the Company. In connection with the pending merger contemplated by the Merger Agreement (as defined below), these previously deferred RSUs were settled on June 26, 2025.

3. These RSUs vested on June 26, 2025 pursuant to the terms of the Company's Equity Incentive Plan in connection with the pending acquisition of the Company by Rocket Companies, Inc. ("Parent") pursuant to the Agreement and Plan of Merger, dated March 9, 2025, by and among the Company, Parent and Neptune Merger Sub, Inc., a wholly owned subsidiary of Parent.

4. RSUs do not expire; they either vest or are canceled prior to the vesting date.

Remarks:

	/s/ Anthony Kappus, attorney-in-fact	06/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.

Source:

FAQ

What type of transactions did Lightspeed report in Rubrik (RBRK) Form 4?

Code C conversions of Class B to Class A shares and Code J in-kind distributions among related entities; no open-market trades.

How many Rubrik Class A shares did Lightspeed Venture Partners IX distribute?

Lightspeed IX converted and then distributed 4,440,000 Class A shares, ending with zero direct holdings.

Was any cash paid for the shares reported in the Form 4?

No. All entries list a $0 price, indicating non-cash internal transfers.

Did Lightspeed funds remain 10 % owners after these transactions?

Several funds鈥� direct stakes fell to 0 shares; some affiliated entities still collectively own ~766,000 shares.

What do transaction codes "C" and "J" mean in this filing?

"C" denotes conversion of Class B into Class A; "J" denotes other, in-kind distributions to partners or affiliates.

AG真人官方

[Form 4] Redfin Corporation Insider Trading Activity

Insights

FAQ

What type of transactions did Lightspeed report in Rubrik (RBRK) Form 4?

How many Rubrik Class A shares did Lightspeed Venture Partners IX distribute?

Was any cash paid for the shares reported in the Form 4?

Did Lightspeed funds remain 10 % owners after these transactions?

What do transaction codes "C" and "J" mean in this filing?

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[Form 4] Redfin Corporation Insider Trading Activity

Insights

Securities Analyst neutral

Risk Analyst negative

FAQ

What type of transactions did Lightspeed report in Rubrik (RBRK) Form 4?

How many Rubrik Class A shares did Lightspeed Venture Partners IX distribute?

Was any cash paid for the shares reported in the Form 4?

Did Lightspeed funds remain 10 % owners after these transactions?

What do transaction codes "C" and "J" mean in this filing?

NASDAQ:RDFN

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