Root, Inc. Files 8-K for Regulation FD Disclosure
Ticker: ROOT · Form: 8-K · Filed: May 30, 2024 · CIK: 1788882
| Field | Detail |
|---|---|
| Company | Root, INC. (ROOT) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $10.6 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: disclosure, regulation-fd
Related Tickers: ROOT
TL;DR
Root Inc. filed an 8-K for a Reg FD disclosure on 5/30/24.
AI Summary
On May 30, 2024, Root, Inc. filed an 8-K to disclose information regarding a Regulation FD disclosure. The filing does not contain specific financial figures or material events beyond the disclosure itself.
Why It Matters
This filing indicates Root, Inc. is making a public disclosure under Regulation FD, which ensures all investors receive timely and non-public information simultaneously.
Risk Assessment
Risk Level: low — The filing is a standard procedural disclosure and does not contain information about significant financial changes, legal issues, or operational disruptions.
Key Players & Entities
- Root, Inc. (company) — Registrant
- 0001788882 (company) — Central Index Key
- May 30, 2024 (date) — Date of Report
FAQ
What is the purpose of this 8-K filing for Root, Inc.?
The purpose of this 8-K filing is to provide a Regulation FD disclosure.
What is the exact date of the earliest event reported in this filing?
The date of the earliest event reported is May 30, 2024.
What is Root, Inc.'s state of incorporation?
Root, Inc. is incorporated in Delaware.
What is the principal executive office address for Root, Inc.?
The principal executive office address is 80 E. Rich Street, Suite 500, Columbus, Ohio 43215.
What is Root, Inc.'s telephone number?
Root, Inc.'s telephone number is (866) 980-9431.
Filing Stats: 589 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-05-30 07:32:22
Key Financial Figures
- $0.0001 — hich registered Class A Common Stock, $0.0001 par value ROOT The Nasdaq Stock Market
- $10.6 million — ter ending June 30, 2024, approximately $10.6 million of tax liability related to the vesting
Filing Documents
- root-20240530.htm (8-K) — 23KB
- 0001628280-24-025674.txt ( ) — 146KB
- root-20240530.xsd (EX-101.SCH) — 2KB
- root-20240530_lab.xml (EX-101.LAB) — 22KB
- root-20240530_pre.xml (EX-101.PRE) — 13KB
- root-20240530_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. As previously disclosed, Root, Inc. (the "Company") maintains an equity incentive plan for the issuance and grant of equity awards, including restricted stock units ("RSUs") and performance stock units ("PSUs") to its officers, directors, employees and certain advisors. When RSU and PSU awards vest, the Company funds the related payroll tax withholding and remittance obligations by either (i) withholding shares of its Class A common stock that would otherwise be issued with respect to such awards and pay the relevant tax authorities in cash to satisfy such tax obligations or (ii) allowing holders of such awards to pay the Company an amount in cash, via a broker, sufficient to cover the applicable tax withholding obligations. In connection with its earnings call for the quarter ended March 31, 2024, the Company had indicated that, for the second quarter ending June 30, 2024, approximately $10.6 million of tax liability related to the vesting of RSUs and PSUs would be recorded to General and administrative expenses and Technology and development on the Company's Condensed Statements of Operations and Comprehensive Loss (unaudited). However, this estimated amount will not be recorded as an Operating expense, but instead would be classified as Additional paid-in capital on the Company's Condensed Consolidated Balance Sheets (unaudited) and Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (unaudited).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ROOT, INC. Dated: May 30, 2024 By: /s/ Alexander Timm Alexander Timm Chief Executive Officer and Director