BOTHA ROELOF 4

What Happened

• Roelof Botha (reported as a 10% owner) made an open‑market purchase of 260,525 shares of Ethos Technologies (LIFE) on 2026-01-29 at $19.00 per share, for a total of $4,949,975.
• On 2026-01-30 the filing shows numerous zero‑dollar transactions tied to the company’s IPO: multiple conversions of preferred/derivative securities into common stock, corresponding dispositions to the issuer, and related grants/awards. The filing reports 12,000,124 shares as zero‑price grants/conversions (and multiple equal zero‑price dispositions to the issuer) associated with the IPO reclassification.

Key Details

• Transaction dates & prices:
  • 2026-01-29: Open‑market purchase — 260,525 shares @ $19.00 = $4,949,975.
  • 2026-01-30: Many conversions, awards and dispositions reported at $0.00 (IPO-related reclassifications and exchanges).
• Reported incremental shares: 260,525 (cash purchase) plus 12,000,124 shares from zero‑price conversions/awards shown on the form. Many of those zero‑price shares were also reported as transferred/disposed to the issuer in connection with the IPO steps.
• Shares owned after transaction: the Form 4 lists the individual conversion/award and disposition line items; the filing’s itemization yields reported additions totaling 12,260,649 shares (260,525 cash purchase + 12,000,124 zero‑price conversions/awards). Note: many zero‑price items reflect IPO conversion and reclassification per the footnotes rather than a cash purchase.
• Notable footnotes:
  • F1: Preferred shares automatically converted to Class A on the IPO and then exchanged 1:1 for Class B common; Class B shares are convertible into Class A. These IPO reclassifications were reported at $0.00 and have no expiration.
  • F2–F3: Botha’s holdings are reported through Sequoia‑affiliated entities; he disclaims beneficial ownership except to the extent of pecuniary interest.
  • F4–F5: Certain amounts include shares held by affiliated entities (Spelunker Channel Holdings, Nalrena LLC).
• Timeliness: Filing date 2026-02-02 for transactions on 2026-01-29 and 2026-01-30 — Form 4 was filed within the required two business days and is timely.

Context

• The large zero‑dollar lines reflect IPO-related automatic conversions/exchanges and awards, not open‑market buys — these are bookkeeping/reclassification entries common around an IPO. The only cash purchase reported was the 260,525 shares at $19 on 1/29 (~$4.95M), which is the clearest bullish signal in this filing.
• As a reported 10% owner and Sequoia‑affiliated investor, Botha’s report mixes institutional fund holdings and corporate reclassifications; the filing includes disclaimers that reduce implication of personal beneficial ownership beyond pecuniary interest.