Ethos Technologies: Sequoia converts 2.37M Class B to A
Sequoia-affiliated funds converted LIFE Class B shares into Class A and distributed them in kind to partners with no cash consideration.
Rhea-AI Filing Summary
Ethos Technologies Inc. (LIFE) reported that on September 8, 2026, investment funds affiliated with Sequoia converted an aggregate 2,371,501 shares of Class B Common Stock into the same number of Class A Common shares on a one-for-one basis. The resulting Class A shares were then distributed pro rata in kind to the funds’ partners or members for no consideration. All holdings are reported as indirect, and SC US (TTGP), Ltd. may be deemed to share voting and dispositive power over the shares held by the related funds but disclaims beneficial ownership except to the extent of its pecuniary interest. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,371,501 shares exercised/converted
Exercise
15 txns
Insider
SC US (TTGP), LTD., SC U.S. Venture XV Management, L.P., SEQUOIA CAPITAL U.S. VENTURE FUND XV, L.P., SEQUOIA CAPITAL U.S. VENTURE PARTNERS FUND XV (Q), L.P., SEQUOIA CAPITAL U.S. VENTURE PARTNERS FUND XV, L.P., SEQUOIA CAPITAL U.S. VENTURE XV PRINCIPALS FUND, L.P., SC U.S. Growth VIII Management, L.P., Sequoia Capital U.S. Growth Fund VIII, L.P.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock F1, F3, F4 | 1,605,456 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F1, F3, F4 | 67,599 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F1, F3, F4 | 24,308 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F1, F3, F4 | 247,656 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F1, F3, F4 | 426,482 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F4 | 1,605,456 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F4 | 67,599 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F4 | 24,308 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F4 | 247,656 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F4 | 426,482 | $0.00 | $0.00 |
| Other | Class A Common Stock F2, F3, F4 | 1,605,456 | $0.00 | $0.00 |
| Other | Class A Common Stock F2, F3, F4 | 67,599 | $0.00 | $0.00 |
| Other | Class A Common Stock F2, F3, F4 | 24,308 | $0.00 | $0.00 |
| Other | Class A Common Stock F2, F3, F4 | 247,656 | $0.00 | $0.00 |
| Other | Class A Common Stock F2, F3, F4 | 426,482 | $0.00 | $0.00 |
Holdings After Transaction:
Class B Common Stock — 4,013,641 contracts (Indirect, Sequoia Capital U.S. Venture Fund XV, L.P.);
Class B Common Stock — 168,999 contracts (Indirect, Sequoia Capital U.S. Venture Partners Fund XV (Q), L.P.);
Class B Common Stock — 60,771 contracts (Indirect, Sequoia Capital U.S. Venture Partners Fund XV, L.P.);
Class B Common Stock — 619,142 contracts (Indirect, Sequoia Capital U.S. Venture XV Principals Fund, L.P.);
Class B Common Stock — 1,066,202 contracts (Indirect, Sequoia Capital U.S. Growth Fund VIII, L.P.);
Class A Common Stock — 0 shares (Indirect, Sequoia Capital U.S. Venture Fund XV, L.P.);
Class A Common Stock — 0 shares (Indirect, Sequoia Capital U.S. Venture Partners Fund XV (Q), L.P.);
Class A Common Stock — 0 shares (Indirect, Sequoia Capital U.S. Venture Partners Fund XV, L.P.);
Class A Common Stock — 0 shares (Indirect, Sequoia Capital U.S. Venture XV Principals Fund, L.P.);
Class A Common Stock — 0 shares (Indirect, Sequoia Capital U.S. Growth Fund VIII, L.P.)
Footnotes (4)
- F1. The Issuer's Class B Common Stock is convertible into the Issuer's Class A Common Stock on a one-for-one basis at the option of the holder thereof and has no expiration date.
- F2. Represents a pro rata in-kind distribution of shares of Class A Common Stock of the Issuer to partners or members for no consideration and includes subsequent pro rata in-kind distributions by general partners or managing members to their respective partners or members for no consideration.
- F3. SC US (TTGP), Ltd. is (i) the general partner of SC U.S. Growth VIII Management, L.P., which is the general partner of Sequoia Capital U.S. Growth Fund VIII, L.P. (GFVIII), and (ii) the general partner of SC U.S. Venture XV Management, L.P., which is the general partner of Sequoia Capital U.S. Venture Fund XV, L.P., Sequoia Capital U.S. Venture Partners Fund XV (Q), L.P., Sequoia Capital U.S. Venture Partners Fund XV, L.P., and Sequoia Capital U.S. Venture XV Principals Fund, L.P. (collectively, the XV Funds).
- F4. [continued from Footnote 3] As a result, SC US (TTGP), Ltd. may be deemed to share voting and dispositive power with respect to the shares held by GFVIII and the XV Funds. Each of SC US (TTGP), Ltd., SC U.S. Growth VIII Management, L.P. and SC U.S. Venture XV Management, L.P. disclaims beneficial ownership of the shares held by GFVIII and the XV Funds, as applicable, except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
Key Figures
Class B shares converted: 2,371,501 shares
Class A shares received by Sequoia Capital U.S. Venture Fund XV, L.P.: 1,605,456 shares
Class B shares remaining for Sequoia Capital U.S. Venture Fund XV, L.P.: 4,013,641 shares
+3 more
6 metrics
Class B shares converted
2,371,501 shares
Aggregate Class B Common Stock converted into Class A on September 8, 2026
Class A shares received by Sequoia Capital U.S. Venture Fund XV, L.P.
1,605,456 shares
Class A Common Stock acquired via conversion of Class B
Class B shares remaining for Sequoia Capital U.S. Venture Fund XV, L.P.
4,013,641 shares
Class B Common Stock held indirectly after the reported conversion
Class A shares received by Sequoia Capital U.S. Growth Fund VIII, L.P.
426,482 shares
Class A Common Stock acquired via conversion of Class B
Class B shares remaining for Sequoia Capital U.S. Growth Fund VIII, L.P.
1,066,202 shares
Class B Common Stock held indirectly after the reported conversion
Restructuring-related shares
2,371,501 shares
Shares involved in pro rata in-kind distributions classified as restructuring transactions
Key Terms
Class B Common Stock, Class A Common Stock, pro rata in-kind distribution, voting and dispositive power, +1 more
5 terms
Class B Common Stock financial
"The Issuer's Class B Common Stock is convertible into the Issuer's Class A"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"distribution of shares of Class A Common Stock of the Issuer to partners"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
pro rata in-kind distribution financial
"Represents a pro rata in-kind distribution of shares of Class A Common"
voting and dispositive power regulatory
"may be deemed to share voting and dispositive power with respect to the shares"
pecuniary interest financial
"disclaims beneficial ownership of the shares held except to the extent of its pecuniary interest"
FAQ
What did Sequoia-affiliated holders report in this Form 4 for LIFE?
They reported converting an aggregate 2,371,501 shares of Class B Common Stock of Ethos Technologies Inc. (LIFE) into the same number of Class A shares on September 8, 2026, followed by pro rata in-kind distributions of those Class A shares to partners for no consideration.
Were there any open-market buys or sells of LIFE stock in this Form 4?
No. The reported transactions are conversions of Class B into Class A Common Stock and pro rata in-kind distributions for no consideration. The filing shows no open-market purchases or sales and a net buy/sell share effect described as neutral.
Are the LIFE transactions reported under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not affirmed, and no footnote describes a Rule 10b5-1 or similar pre-arranged trading plan, so the transactions are reported without reference to such a plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
