Christopher Olsen - Aug 31, 2022 Form 4 Insider Report for Root, Inc. (ROOT)

Role: 10%+ Owner
Signature: /s/ Christopher Olsen
Stock symbol: ROOT
Transactions as of: Aug 31, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/2/2022, 07:54 PM
Previous filing: Nov 24, 2021

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		+112 K			112 K	Aug 31, 2022	See Footnote	F1, F2, F3
transaction	ROOT	Class A Common Stock	Conversion of derivative security		+54.4 K			54.4 K	Aug 31, 2022	See Footnote	F1, F2, F4
transaction	ROOT	Class A Common Stock	Conversion of derivative security		+1.59 K			1.59 K	Aug 31, 2022	See Footnote	F1, F2, F5
holding	ROOT	Class A Common Stock						25.2 K	Aug 31, 2022	See Footnote	F2, F6

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	Class B Common Stock	Conversion of derivative security	$0	-112 K	-100%	$0.00	0	Aug 31, 2022	Class A Common Stock	112 K		See Footnote	F2, F3, F7
transaction	ROOT	Class B Common Stock	Conversion of derivative security	$0	-54.4 K	-100%	$0.00	0	Aug 31, 2022	Class A Common Stock	54.4 K		See Footnote	F2, F4, F7
transaction	ROOT	Class B Common Stock	Conversion of derivative security	$0	-1.59 K	-100%	$0.00	0	Aug 31, 2022	Class A Common Stock	1.59 K		See Footnote	F2, F5, F7
holding	ROOT	Class B Common Stock						1.44 M	Aug 31, 2022	Class A Common Stock	1.44 M		See Footnote	F2, F7, F8

Explanation of Responses:

Id	Content
F1	These shares were converted from Class B Common Stock into Class A Common Stock on a one-for-one basis for no consideration.
F2	The issuer effected a 1-for-18 reverse stock split of its Class A Common Stock and Class B Common Stock on August 12, 2022. The number of securities reported on this Form 4 has been adjusted to reflect the reverse stock split.
F3	The shares are held of record by Drive Capital Overdrive Fund I, L.P. ("Overdrive I"). Drive Capital Overdrive Fund I (GP), LLC ("Overdrive GP I") is the General Partner of Overdrive I. Christopher Olsen ("Olsen") is the managing member of Overdrive GP I and has voting and dispositive power with respect to the shares held of record by Overdrive I. Overdrive GP I and Olsen disclaim beneficial ownership of such shares except to the extent of their pecuniary interests therein.
F4	The shares are held of record by Drive Capital Overdrive Fund I (TE), L.P. ("Overdrive TE I"). Drive Capital Overdrive Fund I (GP), LLC ("Overdrive GP I") is the General Partner of Overdrive TE I. Christopher Olsen ("Olsen") is the managing member of Overdrive GP I and has voting and dispositive power with respect to the shares held of record by Overdrive TE I. Overdrive GP I and Olsen disclaim beneficial ownership of such shares except to the extent of their pecuniary interests therein.
F5	The shares are held of record by Drive Capital Overdrive Ignition Fund I, L.P. ("Overdrive Ignition I"). Drive Capital Overdrive Fund I (GP), LLC ("Overdrive GP I") is the General Partner of Overdrive Ignition I. Christopher Olsen ("Olsen") is the managing member of Overdrive GP I and has voting and dispositive power with respect to the shares held of record by Overdrive Ignition I. Overdrive GP I and Olsen disclaim beneficial ownership of such shares except to the extent of their pecuniary interests therein.
F6	The shares are held of record by Drive Capital I (GP), LLC ("GP I"). Christopher Olsen ("Olsen") is the managing member of GP I and has voting and dispositive power with respect to the shares held of record by GP I. Olsen disclaims beneficial ownership of such shares except to the extent of their pecuniary interests therein.
F7	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.
F8	The shares are held of record by DC I Investment LLC ("DC I Investment"). Christopher Olsen is the Managing Director of DC I Investment and has sole voting and dispositive power with respect to the shares held of record by DC I Investment.

Remarks:

This Form 4 is one of two Form 4s filed with respect to the conversion of these shares. The Reporting Person for the other Form 4 is Drive Capital Overdrive Fund I, L.P.