[Form 4] HUBSPOT, INC. Insider Trading Activity

Rhea-AI Filing Summary

RWC Asset Management LLP, a UK-based investment adviser, filed Amendment No. 4 to Schedule 13G disclosing ownership of 1,523,942 ordinary shares of Auna S.A. (CUSIP L0415A103) as of 30 June 2025.

The stake equals 5.07 % of AUNA’s outstanding shares, surpassing the 5 % threshold that triggers a passive ownership filing under Section 13(d).

• Sole voting power: 1,523,942 shares
• Sole dispositive power: 1,523,942 shares
• No shared voting or dispositive power
• Reporting person classification: Investment Adviser (IA)

No intentions, transaction details, or control arrangements are disclosed. The filing simply confirms a significant but passive institutional position in Auna.

Insights

Financial Analyst

TL;DR: RWC’s 5.07% passive stake signals modest institutional support with limited strategic impact.

RWC Asset Management’s control of 1.52 million shares provides a credible endorsement of Auna but remains below levels that typically influence governance. The position is filed under Rule 13d-1(b), indicating passive intent. Sole voting and dispositive authority eliminate complexities around control groups, while the absence of purchase data or activist language suggests routine portfolio allocation. Market impact should be mildly positive, driven by increased liquidity and visibility rather than fundamental change.

Corporate Governance Specialist

TL;DR: Filing shows compliance; no group formation, so governance implications are minimal.

The amendment certifies that RWC operates independently, holding both voting and dispositive power without shared arrangements. This limits takeover or coalition risk. The certification language satisfies SEC requirements for foreign advisers, demonstrating regulatory discipline. From a governance standpoint, the disclosure is routine and does not alter Auna’s control landscape.

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

OMB APPROVAL

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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).

X

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Bueker Kathryn

(Last) (First) (Middle)

C/O HUBSPOT, INC.

2 CANAL PARK

(Street)

CAMBRIDGE MA 02141

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HUBSPOT INC [ HUBS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		F(1)		1,154	D	$557.86	41,701	D
Common Stock	07/02/2025		S(2)		615	D	$551.79	41,086	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares withheld by Issuer to cover taxes associated with settlement of restricted stock units.

2. This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 2/18/2025.

	/s/ Joseph Theis, attorney-in-fact	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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