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Insider Trading - May 19, 2022
Khosla Ventures entities distributed ~28.75M shares internally ($0).
Brief
Khosla Ventures affiliates, reporting persons including Director Vinod Khosla (10% owner), executed pro rata distributions of 28,751,198 Common Stock shares among related funds on 05/17/2022. Transactions coded 'J' at $0.00 with no open market activity. Neutral signal indicating internal reorganization without disposition.
Detailed Brief
This joint Form 4 filing details three non-derivative transactions on May 17, 2022, by Khosla Ventures entities (Seed B L.P., Seed B (CF) L.P., and V L.P.), controlled ultimately by Vinod Khosla (Director and 10% Owner). KV Seed B distributed 13,440,701 shares pro rata to partners, retaining 34,945,825 indirectly; KV Seed B (CF) distributed 762,952, retaining 1,983,677; KV V distributed 14,547,545, retaining 37,823,617. Further distributions occurred to general partners like KVA entities and then to VK Services (9,121,569 shares received), all for no consideration. No 10b5-1 plan noted; represents fund-level distributions/liquidations without external sales, preserving group beneficial ownership (~74.75M shares post). No prior pattern context in filing; neutral housekeeping event.
Key Telemetry
- • Internal pro rata distributions of 28.75M shares (~38% of pre-transaction holdings in those funds), no economic change or external sale.
- • Post-transaction group indirect holdings: ~74.75M shares, significant 10%+ position maintained.
- • Transaction at $0.00 via 'J' code; no price impact or market timing evident (mid-May 2022, pre-earnings).
- • Neutral as reorganization within VC funds, common for distributions to LPs.
Impact Vector
This internal redistribution signals no change in insider confidence, as Khosla group retains substantial beneficial ownership without selling shares externally. Neutral event unlikely to impact stock sentiment.