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 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol Coinbase Global, Inc. [ COIN ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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| 3. Date of Earliest Transaction (Month/Day/Year) 05/21/2021 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A Common Stock | 05/21/2021 | C(1) | 5,220,839 | A | $0.00(2) | 5,220,839 | I | By Andreessen Horowitz Fund III, L.P.(3) | ||
| Class A Common Stock | 05/21/2021 | C(4) | 454,334 | A | $0.00(2) | 454,334 | I | By AH Parallel Fund III, L.P.(5)(6) | ||
| Class A Common Stock | 05/21/2021 | C(7) | 322,110 | A | $0.00(2) | 425,185 | I | By a16z Seed-III, LLC(8) | ||
| Class A Common Stock | 05/21/2021 | J(9) | 425,185 | D | $0.00 | 0 | I | By a16z Seed-III, LLC(8) | ||
| Class A Common Stock | 05/21/2021 | J(9) | 425,185 | A | $0.00 | 5,646,024 | I | By Andreessen Horowitz Fund III, L.P.(3) | ||
| Class A Common Stock | 05/21/2021 | J(10) | 5,542,949 | D | $0.00 | 103,075 | I | By Andreessen Horowitz Fund III, L.P.(3) | ||
| Class A Common Stock | 05/21/2021 | J(11) | 454,334 | D | $0.00 | 0 | I | By AH Parallel Fund III, L.P.(5)(6) | ||
| Class A Common Stock | 05/21/2021 | J(12) | 1,154,711 | D | $0.00 | 2,263,232 | I | By Andreessen Horowitz LSV Fund I, L.P.(13) | ||
| Class A Common Stock | 05/21/2021 | J(14) | 17,473 | A | $0.00 | 17,473 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/21/2021 | J(16) | 424,072 | A | $0.00 | 842,687 | I | By Trust(17) | ||
| Class A Common Stock | 05/24/2021 | S | 873 | D | $224.9947(18) | 16,600 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/24/2021 | S | 7,700 | D | $225.9701(19) | 8,900 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/24/2021 | S | 5,799 | D | $226.7931(20) | 3,101 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/24/2021 | S | 1,201 | D | $227.714(21) | 1,900 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/24/2021 | S | 1,600 | D | $228.8786(22) | 300 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/24/2021 | S | 200 | D | $229.73(23) | 100 | I | By AH Capital Management, L.L.C.(15) | ||
| Class A Common Stock | 05/24/2021 | S | 100 | D | $230.95 | 0 | I | By AH Capital Management, L.L.C.(15) | ||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 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) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Class B Common Stock | (2) | 05/21/2021 | C(1) | 5,220,839 | (2) | (2) | Class A Common Stock | 5,220,839 | $0.00(2) | 10,761,104 | I | By Andreessen Horowitz Fund III, L.P.(3) | |||
| Class B Common Stock | (2) | 05/21/2021 | C(4) | 454,334 | (2) | (2) | Class A Common Stock | 454,334 | $0.00(2) | 890,493 | I | By AH Parallel Fund III, L.P.(5)(6) | |||
| Class B Common Stock | (2) | 05/21/2021 | C(7) | 322,110 | (2) | (2) | Class A Common Stock | 322,110 | $0.00(2) | 0 | I | By a16z Seed-III, LLC(8) | |||
1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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| Explanation of Responses: |
| 1. Represents the conversion of 5,220,839 shares of Class B Common Stock held of record by Andreessen Horowitz Fund III, L.P. into Class A Common Stock. |
| 2. 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. |
| 3. These securities are held by Andreessen Horowitz Fund III, L.P., for itself and as nominee for Andreessen Horowitz Fund III-A, L.P., Andreessen Horowitz Fund III-B, L.P., and Andreessen Horowitz Fund III-Q, L.P. (collectively, the "AH Fund III Entities"). AH Equity Partners III, L.L.C. ("AH EP III"), the general partner of the AH Fund III Entities, has sole voting and dispositive power with regard to the securities held by the AH Fund III Entities. Marc Andreessen and Ben Horowitz are the managing members of AH EP III and share voting and dispositive power with respect to the shares held by the AH Fund III Entities. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Fund III Entities and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any. |
| 4. Represents the conversion of 454,334 shares of Class B Common Stock held of record by AH Parallel Fund III, L.P. into Class A Common Stock. |
| 5. These securities are held by AH Parallel Fund III, L.P., for itself and as nominee for AH Parallel Fund III-A, L.P., AH Parallel Fund III-B, L.P., and AH Parallel Fund III-Q, L.P. (collectively, the "AH Parallel Fund III Entities"). AH Equity Partners III (Parallel), L.L.C. ("AH EP III Parallel"), the general partner of the AH Parallel Fund III Entities, has sole voting and dispositive power with regard to the shares held by the AH Parallel Fund III Entities. Marc Andreessen and Ben Horowitz are the managing members of AH EP III Parallel and share voting and dispositive power with respect to the shares held by the AH Parallel Fund III Entities. |
| 6. (Continued from Footnote 5) Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Parallel Fund III Entities and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any. |
| 7. Represents the conversion of 322,110 shares of Class B Common Stock held of record by a16z Seed-III, LLC ("a16z Seed") into Class A Common Stock. |
| 8. These securities are held of record by a16z Seed. The securities held directly by a16z Seed are indirectly held by the AH Fund III Entities, the members of a16z Seed. AH EP III, the general partner of the AH Fund III Entities, has sole voting and dispositive power with regard to the shares held by a16z Seed. Marc Andreessen and Ben Horowitz are the managing members of AH EP III and share voting and dispositive power with respect to the shares held by a16z Seed. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by a16z Seed and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any. |
| 9. On May 21, 2021, a16z Seed distributed, for no consideration, 425,185 shares of the Issuer's Class A Common Stock (the "a16z Seed Shares") to the AH Fund III Entities, representing each such member's pro rata interest in such a16z Seed Shares. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. |
| 10. On May 21, 2021, the AH Fund III Entities distributed, for no consideration, 5,542,949 shares of the Issuer's Class A Common Stock (the "AH Fund III Shares") to their limited partners and to AH EP III, the general partner of the AH Fund III Entities, representing each such partner's pro rata interest in such AH Fund III Shares. On the same date, AH EP III distributed, for no consideration, the AH Fund III Shares it received in the distribution by the AH Fund III Entities to its members, representing each such member's pro rata interest in such AH Fund III Shares. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. |
| 11. On May 21, 2021, the AH Parallel Fund III Entities distributed, for no consideration, 454,334 shares of the Issuer's Class A Common Stock (the "AH Parallel Fund III Shares") to their limited partners and to AH EP III Parallel, the general partner of the AH Parallel Fund III Entities, representing each such partner's pro rata interest in such AH Parallel Fund III Shares. On the same date, AH EP III Parallel distributed, for no consideration, the AH Parallel Fund III Shares it received in the distribution by the AH Parallel Fund III Entities to its members, representing each such member's pro rata interest in such AH Parallel Fund III Shares. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. |
| 12. On May 21, 2021, the AH LSV Fund I Entities (as defined below) distributed, for no consideration, 1,154,711 shares of the Issuer's Class A Common Stock (the "AH LSV Fund I Shares") to their limited partners and to AH EP LSV I (as defined below), the general partner of the AH LSV Fund I Entities, representing each such partner's pro rata interest in such AH LSV Fund I Shares. On the same date, AH EP LSV I distributed, for no consideration, the AH LSV Fund I Shares it received in the distribution by the AH LSV Fund I Entities to its members, representing each such member's pro rata interest in such AH LSV Fund I Shares. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. |
| 13. These securities are held by Andreessen Horowitz LSV Fund I, L.P., for itself and as nominee for Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P. (collectively, the "AH LSV Fund I Entities"). AH Equity Partners LSV I, L.L.C. ("AH EP LSV I"), the general partner of the AH LSV Fund I Entities, has sole voting and dispositive power with regard to the shares held by the AH LSV Fund I Entities. Marc Andreessen and Ben Horowitz are the managing members of AH EP LSV I and share voting and dispositive power with respect to the shares held by the AH LSV Fund I Entities. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund I Entities and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any. |
| 14. Represents shares received by AH Capital Management, L.L.C. pursuant to pro rata distributions by AH EP III, AH EP III Parallel and AH EP LSV I, for no consideration, of shares of the Issuer's Class A Common Stock to their respective members. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. |
| 15. The securities are held of record by AH Capital Management, L.L.C. The members of AH Capital Management, L.L.C. are Marc Andreessen and Ben Horowitz, who share voting and dispositive power with respect to the shares held by AH Capital Management, L.L.C. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by AH Capital Management, L.L.C. and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any. |
| 16. Represents shares received by the 1997 Horowitz Family Trust pursuant to pro rata distributions by the AH Fund III Entities, the AH Parallel Fund III Entities, the AH LSV Fund I Entities, AH EP III, AH EP III Parallel, and AH EP LSV I, for no consideration, of shares of the Issuer's Class A Common Stock to their respective partners or members, as applicable. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. |
| 17. These securities are held of record by a family trust for which Ben Horowitz is a trustee. Each of the Reporting Persons disclaims the existence of a "group" and, other than Ben Horowitz, disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any. |
| 18. Represents the weighted average sale price. The lowest price at which shares were sold was $224.33 and the highest price at which shares were sold was $225.32. The Reporting Persons undertake to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or the Issuer's stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (18) through (23) to this Form 4. |
| 19. Represents the weighted average sale price. The lowest price at which shares were sold was $225.34 and the highest price at which shares were sold was $226.335. |
| 20. Represents the weighted average sale price. The lowest price at which shares were sold was $226.34 and the highest price at which shares were sold was $227.30. |
| 21. Represents the weighted average sale price. The lowest price at which shares were sold was $227.35 and the highest price at which shares were sold was $228.05. |
| 22. Represents the weighted average sale price. The lowest price at which shares were sold was $228.49 and the highest price at which shares were sold was $229.46. |
| 23. Represents the weighted average sale price. The lowest price at which shares were sold was $229.67 and the highest price at which shares were sold was $229.79. |
| Remarks: |
| This Form 4 is one of two Form 4s filed relating to the same event. Combined, the two reports report the holdings and/or transactions for the following reporting persons: Andreessen Horowitz Fund III, L.P., Andreessen Horowitz Fund III-A, L.P., Andreessen Horowitz Fund III-B, L.P., Andreessen Horowitz Fund III-Q, L.P., AH Equity Partners LSV I, L.L.C., Andreessen Horowitz LSV Fund I, L.P., Andreessen Horowitz LSV Fund I-B, L.P., Andreessen Horowitz LSV Fund I-Q, L.P., AH Parallel Fund III, L.P., AH Parallel Fund III-A, L.P., AH Parallel Fund III-B L.P., AH Parallel Fund III-Q, L.P., a16z Seed-III, LLC, AH Equity Partners III, L.L.C., AH Equity Partners III (Parallel), L.L.C., AH Capital Management, L.L.C. and Benjamin Horowitz. This Form 4 has been split into two filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 reporting persons. |
| Andreessen Horowitz LSV Fund I, L.P., By: AH Equity Partners LSV I, L.L.C., Its: General Partner, By: /s/ Scott Kupor, Scott Kupor, Chief Operating Officer | 05/25/2021 | |
| Andreessen Horowitz LSV Fund I-B, L.P., By: AH Equity Partners LSV I, L.L.C., Its: General Partner, By: /s/ Scott Kupor, Scott Kupor, Chief Operating Officer | 05/25/2021 | |
| Andreessen Horowitz LSV Fund I-Q, L.P., By: AH Equity Partners LSV I, L.L.C., Its: General Partner, By: /s/ Scott Kupor, Scott Kupor, Chief Operating Officer | 05/25/2021 | |
| AH Equity Partners LSV I, L.L.C., By: /s/ Scott Kupor, Scott Kupor, Chief Operating Officer | 05/25/2021 | |
| AH Equity Partners III (Parallel), L.L.C., By: /s/ Scott Kupor, Scott Kupor, Chief Operating Officer | 05/25/2021 | |
| AH Capital Management, L.L.C., By: /s/ Scott Kupor, Scott Kupor, Chief Operating Officer | 05/25/2021 | |
| /s/ Scott Kupor, Attorney-in-Fact for Benjamin Horowitz | 05/25/2021 | |
| ** 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. | ||