Doug Ulman - Mar 24, 2025 Form 4 Insider Report for Root, Inc. (ROOT)

Role
Director
Signature
/s/ Jodi Baker, Attorney-in-fact
Stock symbol
ROOT
Transactions as of
Mar 24, 2025
Transactions value $
-$348,704
Form type
4
Date filed
3/26/2025, 04:10 PM
Previous filing
Mar 17, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROOT Class A Common Stock Conversion of derivative security +2K +32.25% 8.2K Mar 24, 2025 Direct F1, F2
transaction ROOT Class A Common Stock Sale -$350K -2K -24.39% $175.00 6.2K Mar 24, 2025 Direct F3
holding ROOT Class A Common Stock 9.61K Mar 24, 2025 See Footnote F4
holding ROOT Class A Common Stock 10.4K Mar 24, 2025 See Footnote F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ROOT Stock Option (Right to Buy) Options Exercise $0 -2K -5.66% $0.00 33.4K Mar 24, 2025 Class B Common Stock 2K $0.65 Direct F2, F6
transaction ROOT Class B Common Stock Options Exercise $1.3K +2K $0.65 2K Mar 24, 2025 Class A Common Stock 2K Direct F1, F2
transaction ROOT Class B Common Stock Conversion of derivative security $0 -2K -100% $0.00 0 Mar 24, 2025 Class A Common Stock 2K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.
F2 On March 24, 2025, the Reporting Person exercised stock options regarding 2,000 shares of Class B Common Stock (the "Exercise"). Under the terms of the Exercise, the Reporting received 2,000 shares of Class A Common Stock rather than Class B Common Stock. This report reflects the Exercise as the exempt disposition of the stock options, a deemed exempt acquisition of the underlying Class B Common Stock, and a deemed exempt conversion of such Class B Common Stock into Class A Common Stock.
F3 The shares were sold pursuant to a 10b5-1 trading plan.
F4 Shares held by the Douglas E Ulman 2016 Irrevocable Trust, for which the reporting person's spouse is the trustee.
F5 Shares held by the Douglas E. Ulman Revocable Trust dated March 17, 2016.
F6 The shares subject to the option are immediately exercisable. One-fourth of the shares subject to the option award vested on October 29, 2017, and thereafter one-forty-eighth of the shares subject to the option award vested monthly.