Vita Coco Co-Founder Kirban's Stake Drops to 19.1%

TL;DR

**Vita Coco co-founder Michael Kirban's stake is down to 19.1%, keep an eye on insider holdings.**

AI Summary

Michael Kirban, a co-founder of The Vita Coco Company, Inc., filed an amended SC 13G/A on February 9, 2024, indicating his beneficial ownership of 10,772,400 shares of the company's common stock as of December 31, 2023. This represents 19.1% of the company's outstanding shares, a decrease from his previous reported ownership. This matters to investors because it shows a significant insider still holds a large stake, but also that his overall percentage has declined, which could signal a shift in his long-term commitment or a dilution of his stake.

Why It Matters

This filing shows a co-founder's updated ownership percentage, which can influence investor confidence and signal potential future actions regarding his stake in the company.

Risk Assessment

Risk Level: low — The filing indicates a change in beneficial ownership by an insider, which is a routine disclosure and not inherently high-risk.

Analyst Insight

Investors should note the updated insider ownership percentage. While still substantial, a decrease could warrant further investigation into the reasons behind the change, such as share sales or dilution from new share issuances, before making investment decisions.

Key Numbers

• 10,772,400 — Shares Beneficially Owned (This is the total number of common stock shares Michael Kirban reported owning as of December 31, 2023.)
• 19.1% — Percentage of Class (This represents Michael Kirban's beneficial ownership percentage of The Vita Coco Company, Inc.'s common stock.)
• December 31, 2023 — Reporting Date (This is the specific date for which the ownership information is being reported in the filing.)

Key Players & Entities

• Michael Kirban (person) — co-founder and reporting person for The Vita Coco Company, Inc.
• The Vita Coco Company, Inc. (company) — the subject company whose securities are being reported
• 10,772,400 shares (dollar_amount) — number of shares beneficially owned by Michael Kirban
• 19.1% (dollar_amount) — percentage of class beneficially owned by Michael Kirban
• December 31, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Michael Kirban will continue to be a significant shareholder, but his percentage ownership may fluctuate due to company share issuances or personal transactions. (Michael Kirban) — medium confidence, target: Within the next 12 months

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, Par Value $0.01 Per Share (Title of Class of Securiti

Filing Documents

• d597259dsc13ga.htm (SC 13G/A) — 35KB
• 0001193125-24-029898.txt ( ) — 36KB

From the Filing

SC 13G/A 1 d597259dsc13ga.htm SC 13G/A SC 13G/A Securities and Exchange Commission Washington, D.C. 20549 Schedule 13G (Rule 13d-102) Information to be Included in Statements Filed Pursuant to 240.13d-1(b), (c) and (d) and Amendments Thereto Filed Pursuant to 240.13d-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 2)* The Vita Coco Company, Inc. (Name of Issuer) Common Stock, Par Value $0.01 Per Share (Title of Class of Securities) 92846Q107 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 Names of Reporting Persons Michael Kirban 2 Check the Appropriate Box if a Member of a Group (a)(b) 3 SEC Use Only 4 Citizenship or Place of Organization United States of America Number of Shares Beneficially Owned by Each Reporting Person With 5 Sole Voting Power 3,478,947 6 Shared Voting Power 0 7 Sole Dispositive Power 3,478,947 8 Shared Dispositive Power 0 9 Aggregate Amount Beneficially Owned by Each Reporting Person 3,478,947 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares Not Applicable 11 Percent of Class Represented by Amount in Row 9 6.1% 12 Type of Reporting Person IN ITEM1.(a) Name of Issuer: The Vita Coco Company, Inc. (the Issuer). (b) Address of Issuers Principal Executive Offices: 250 Park Avenue South, Seventh Floor, New York, NY 10003 ITEM2.(a) Name of Person Filing: This statement is filed on behalf of Michael Kirban (the Reporting Person). (b) Address or Principal Business Office: The business address of the Reporting Person is c/o The Vita Coco Company, Inc., 250 Park Avenue South, Seventh Floor, New York, NY 10003. (c) Citizenship of each Reporting Person is: Michael Kirban is a citizen of the United States of America. (d) Title of Class of Securities: Common Stock, par value $0.01 per share (Common Stock). (e) CUSIP Number: 92846Q107 ITEM3. If this statement is filed pursuant to 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable. ITEM4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 3,478,947(1) (b) Percent of class: 6.1%(2) (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 3,478,947 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 3,478,947 (iv) Shared power to dispose or to direct the disposition of: 0 (1) Consists of (i) 61,307 shares of Common Stock held of record by the Reporting Person directly, (ii) 715,730 shares of Common Stock that the Reporting Person has the right to acquire upon the exercise of stock options on or prior to March 1, 2024, (iii) 2,026,229 shares of Common Stock held of record by the Michael Kirban 2010 Trust, of which the Reporting Person serves as trustee and has sole voting and dispositive power, and (iv) 675,681 shares of Common Stock held of record by the Michael Kirban Revocable Trust, of which the Reporting Person serves as trustee and has sole voting and dispositive power. (2) Based on 56,756,005 shares of Common Stock outstanding on November 1, 2023, as reported in the Issuers Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 filed with the U.S. Securities and Exchange Commission on November 2, 2023. ITEM5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the Reporting Person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following . ITEM6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable. ITEM7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable. ITEM8. Identification and Classification of Members of the Group. Not applicable. ITEM9. Notice of Dissolution of Group. Not applicable. ITEM10. Certification. Not applicable. SIGNATURE