Cortese Thomas Form 4 PELOTON INTERACTIVE / Thomas Cortese ownership change

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^*

Cortese Thomas

(Last)

(First)

(Middle)

C/O PELOTON INTERACTIVE, INC.

125 WEST 25TH STREET, 11TH FLOOR

(Street)

NEW YORK

10001

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PELOTON INTERACTIVE, INC. [ PTON ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
COO and Head of Prod. Dev.

3. Date of Earliest Transaction (Month/Day/Year)
12/09/2020

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)
Class A Common Stock	11/16/2020		G	V	6,250⁽¹⁾	D	$0	413	D
Class A Common Stock	12/09/2020		C		40,000⁽²⁾	A	$0	40,413	D
Class A Common Stock	12/09/2020		S⁽³⁾		4,946	D	$110.7711⁽⁴⁾	35,467	D
Class A Common Stock	12/09/2020		S⁽³⁾		3,319	D	$111.934⁽⁵⁾	32,148	D
Class A Common Stock	12/09/2020		S⁽³⁾		2,934	D	$112.8083⁽⁶⁾	29,214	D
Class A Common Stock	12/09/2020		S⁽³⁾		1,900	D	$114.3542⁽⁷⁾	27,314	D
Class A Common Stock	12/09/2020		S⁽³⁾		8,146	D	$116.4838⁽⁸⁾	19,168	D
Class A Common Stock	12/09/2020		S⁽³⁾		9,655	D	$117.2252⁽⁹⁾	9,513	D
Class A Common Stock	12/09/2020		S⁽³⁾		5,700	D	$118.3554⁽¹⁰⁾	3,813	D
Class A Common Stock	12/09/2020		S⁽³⁾		3,100	D	$119.2355⁽¹¹⁾	713	D
Class A Common Stock	12/09/2020		S⁽³⁾		300	D	$119.9⁽¹²⁾	413	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)
Class B Common Stock	⁽¹³⁾	11/13/2020		G	V		65,000	⁽¹³⁾	⁽¹³⁾	Class A Common Stock	65,000	$0	1,154,922	D
Class B Common Stock	⁽¹³⁾	11/13/2020		G	V	65,000		⁽¹³⁾	⁽¹³⁾	Class A Common Stock	65,000	$0	342,052	I	By The Harbor View Trust⁽¹⁴⁾
Stock Option (right to buy Class B Common Stock)	$0.7525	12/09/2020		M			40,000	⁽¹⁵⁾	04/19/2026	Class B Common Stock⁽¹³⁾	40,000	$0	460,000	D
Class B Common Stock	⁽¹³⁾	12/09/2020		M		40,000		⁽¹³⁾	⁽¹³⁾	Class A Common Stock	40,000	$0	1,194,922	D
Class B Common Stock	⁽¹³⁾	12/09/2020		C			40,000⁽¹⁶⁾	⁽¹³⁾	⁽¹³⁾	Class A Common Stock	40,000	$0	1,154,922	D

Explanation of Responses:

1. Represents shares of the issuer's Class A Common Stock that the reporting person donated as a gift to a donor advised fund.

2. Represents the number of shares that were acquired upon conversion of Class B Common Stock to Class A Common Stock.

3. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.40 to $111.37 per share, 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 shares sold at each separate price within the range set forth in this footnote.

5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.45 to $112.44 per share, 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 shares sold at each separate price within the range set forth in this footnote.

6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.47 to $113.36 per share, 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 shares sold at each separate price within the range set forth in this footnote.

7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.76 to 114.61 per share, 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 shares sold at each separate price within the range set forth in this footnote.

8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.80 to $116.79 per share, 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 shares sold at each separate price within the range set forth in this footnote.

9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.82 to $117.75 per share, 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 shares sold at each separate price within the range set forth in this footnote.

10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $117.82 to $118.80 per share, 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 shares sold at each separate price within the range set forth in this footnote.

11. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.83 to $119.73 per share, 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 shares sold at each separate price within the range set forth in this footnote.

12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.88 to $119.91 per share, 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 shares sold at each separate price within the range set forth in this footnote.

13. Each share of the issuer's Class B Common Stock will automatically convert into one (1) share of the issuer's Class A Common Stock (a) at the option of the holder and (b) immediately prior to the close of business on the earliest of (i) ten (10) years from the closing of the issuer's initial public offering, (ii) the date on which the outstanding shares of Class B Common Stock represent less than one percent (1%) of the aggregate number of shares of Class A Common Stock and Class B Common Stock then outstanding or (iii) the date specified by the affirmative vote of the holders of Class B Common Stock representing not less than two-thirds (2/3) of the voting power of the outstanding shares of Class B Common Stock, voting separately as a single class, and has no expiration date.

14. These securities are held of record by Rachel Cortese and Craig Eckenthal, Trustees of The Harbor View Trust dated 12/22/2017.

15. The option is fully vested and exercisable.

16. The holder elected to convert the Class B common stock to Class A common stock on a 1-for-1 basis.

Remarks:

	/s/ Hisao Kushi as attorney-in-fact for Thomas Cortese	12/11/2020
	** 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.

Cortese Thomas Form 4PELOTON INTERACTIVE / Thomas Cortese ownership change