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RBC Trust Emerges as Major Symbotic Shareholder with Multi-Vote Share Control

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

RBC Millennium GST Non-Exempt Trust filed an initial Statement of Beneficial Ownership (Form 3) for Symbotic (SYM), reporting significant holdings following a distribution from The RBC 2021 4 Year GRAT on June 12, 2025. The trust is classified as a 10% owner of Symbotic.

Key holdings include:

  • 2,292,405 shares of Class V-1 Common Stock (1 vote per share)
  • 163,355,074 shares of Class V-3 Common Stock (3 votes per share)
  • 165,647,479 Restricted Stock Units convertible into Class A Common Stock

The securities were received as part of the GRAT Remainder distribution following the termination of The RBC 2021 4 Year GRAT on March 31, 2025. Both Class V-1 and V-3 shares have no economic rights but differ in voting power. These shares, combined with Symbotic Holdings Units, are redeemable on a one-for-one basis for Class A Common Stock.

Positive

  • None.

Negative

  • None.
Insider RBC Millennium GST Non-Exempt Trust
Role 10% Owner
Type Security Shares Price Value
holding Restricted Stock Units -- -- --
holding Class V-1 Common Stock -- -- --
holding Class V-3 Common Stock -- -- --
Holdings After Transaction: Restricted Stock Units — 165,647,479 shares (Direct); Class V-1 Common Stock — 2,292,405 shares (Direct); Class V-3 Common Stock — 163,355,074 shares (Direct)
Footnotes (1)
  1. The term "Symbotic Holdings Units" is used herein to represent limited liability company units of Symbotic Holdings and an equal number of paired shares of Class V-1 Common Stock or Class V-3 Common Stock of the Issuer, which, pursuant to the limited liability company agreement of Symbotic Holdings, are together redeemable by the holder on a one-for-one basis for a share of Class A Common Stock of the Issuer, subject to conversion rate adjustments for stock splits, stock dividends, reclassification and other similar transactions, and in accordance with other terms and conditions set forth in Symbotic Holdings' Second Amended and Restated Limited Liability Company Agreement, dated as of June 7, 2022. Upon redemption, the Issuer will cancel the Symbotic Holdings Units and cancel and retire for no consideration the redeemed shares of Class V-1 Common Stock or Class V-3 Common Stock, as applicable. Shares of Class V-1 Common Stock of the Issuer have no economic rights and each share of Class V-1 Common Stock entitles its holder to 1 vote per share. Shares of Class V-3 Common Stock of the Issuer have no economic rights and each share of Class V-3 Common Stock entitles its holder to 3 votes per share. According to the terms of The RBC 2021 4 Year GRAT's trust agreement, The RBC 2021 4 Year GRAT terminated on March 31, 2025 and the remainder of The RBC 2021 4 Year GRAT (after full and final payment of any annuity amounts owed to Richard B. Cohen) (the "GRAT Remainder"), was to be distributed to the RBC Millennium Trust. The trustees of the RBC Millennium Trust resolved to accept the GRAT Remainder and hold and administer the GRAT Remainder in a separate, GST non-exempt trust apart from the principal and income held by the Millennium Trust. On June 12, 2025, The RBC 2021 4 Year GRAT distributed the GRAT Remainder to The RBC Millennium GST Non-Exempt Trust (the "Distribution"). (Continued) (Continued from Footnote 3) As a result of the Distribution, The RBC Millennium GST Non-Exempt Trust received in the aggregate the 165,647,479 common units in Symbotic Holdings LLC ("OpCo"), 163,355,074 shares of Symbotic Class V-3 Common Stock and 2,292,405 shares of Symbotic Class V-1 Common Stock previously held by The RBC 2021 4 Year GRAT.
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SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
RBC Millennium GST Non-Exempt Trust
(Last) (First) (Middle)
7 CORPORATE DRIVE
(Street)
KEENE NH 03431
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
06/12/2025 		3. Issuer Name and Ticker or Trading Symbol
Symbotic Inc. [ SYM ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
5. 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 Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class V-1 Common Stock(1)(2) 2,292,405(3)(4) D
Class V-3 Common Stock(1)(2) 163,355,074(3)(4) D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units(1)(2) (1)(2) (1)(2) Class A Common Stock 165,647,479(3)(4) (1)(2) D
Explanation of Responses:
1. The term "Symbotic Holdings Units" is used herein to represent limited liability company units of Symbotic Holdings and an equal number of paired shares of Class V-1 Common Stock or Class V-3 Common Stock of the Issuer, which, pursuant to the limited liability company agreement of Symbotic Holdings, are together redeemable by the holder on a one-for-one basis for a share of Class A Common Stock of the Issuer, subject to conversion rate adjustments for stock splits, stock dividends, reclassification and other similar transactions, and in accordance with other terms and conditions set forth in Symbotic Holdings' Second Amended and Restated Limited Liability Company Agreement, dated as of June 7, 2022. Upon redemption, the Issuer will cancel the Symbotic Holdings Units and cancel and retire for no consideration the redeemed shares of Class V-1 Common Stock or Class V-3 Common Stock, as applicable.
2. Shares of Class V-1 Common Stock of the Issuer have no economic rights and each share of Class V-1 Common Stock entitles its holder to 1 vote per share. Shares of Class V-3 Common Stock of the Issuer have no economic rights and each share of Class V-3 Common Stock entitles its holder to 3 votes per share.
3. According to the terms of The RBC 2021 4 Year GRAT's trust agreement, The RBC 2021 4 Year GRAT terminated on March 31, 2025 and the remainder of The RBC 2021 4 Year GRAT (after full and final payment of any annuity amounts owed to Richard B. Cohen) (the "GRAT Remainder"), was to be distributed to the RBC Millennium Trust. The trustees of the RBC Millennium Trust resolved to accept the GRAT Remainder and hold and administer the GRAT Remainder in a separate, GST non-exempt trust apart from the principal and income held by the Millennium Trust. On June 12, 2025, The RBC 2021 4 Year GRAT distributed the GRAT Remainder to The RBC Millennium GST Non-Exempt Trust (the "Distribution"). (Continued)
4. (Continued from Footnote 3) As a result of the Distribution, The RBC Millennium GST Non-Exempt Trust received in the aggregate the 165,647,479 common units in Symbotic Holdings LLC ("OpCo"), 163,355,074 shares of Symbotic Class V-3 Common Stock and 2,292,405 shares of Symbotic Class V-1 Common Stock previously held by The RBC 2021 4 Year GRAT.
Remarks:
/s/ Corey Dufresne, Attorney-in-Fact for The RBC Millennium GST Non-Exempt Trust 06/25/2025
** 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 5 (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.

Source: View Original Filing on SEC EDGAR

FAQ

How many shares of SYM Class V-3 Common Stock does RBC Millennium GST Non-Exempt Trust own?

According to the Form 3 filing, RBC Millennium GST Non-Exempt Trust owns 163,355,074 shares of Symbotic (SYM) Class V-3 Common Stock, which was received as part of a distribution from The RBC 2021 4 Year GRAT on June 12, 2025.

What voting rights do SYM's Class V-1 and Class V-3 shares have?

According to the filing, SYM's Class V-1 Common Stock entitles holders to 1 vote per share, while Class V-3 Common Stock entitles holders to 3 votes per share. Both share classes have no economic rights.

How many Restricted Stock Units of SYM does the RBC Millennium GST Non-Exempt Trust hold?

The filing shows that RBC Millennium GST Non-Exempt Trust holds Restricted Stock Units convertible into 165,647,479 shares of SYM Class A Common Stock.

When did RBC Millennium GST Non-Exempt Trust acquire its SYM shares?

The trust acquired its SYM shares on June 12, 2025, through a distribution from The RBC 2021 4 Year GRAT, which terminated on March 31, 2025. This distribution included 163,355,074 shares of Class V-3 Common Stock, 2,292,405 shares of Class V-1 Common Stock, and 165,647,479 common units in Symbotic Holdings LLC.

What is RBC Millennium GST Non-Exempt Trust's relationship to SYM?

According to the Form 3 filing, RBC Millennium GST Non-Exempt Trust is classified as a 10% Owner of Symbotic Inc. (SYM), as indicated by the checkbox in Section 4 of the form.