Ethos (LIFE) 10% Owner SC US (TTGP) Converts 1.78M Shares

What Happened
SC US (TTGP), Ltd., listed as a 10% owner (a Sequoia-related general partner), converted a total of 1,778,626 derivative/Class B shares into Class A common stock and then distributed those shares pro rata to partners/members. The conversions and distributions were recorded at $0.00 per share (total proceeds $0). The conversion appears to be a one-for-one conversion of Class B into Class A (see footnote F1) followed by in-kind distributions (footnote F2).

Key Details

• Transaction date: 2026-08-17; Form 4 filed 2026-08-19 (appears timely).
• Transaction types/codes: C (conversion of derivative security) and J (other acquisition/disposition — pro rata in-kind distribution).
• Shares converted/distributed (total): 1,778,626 shares (breakdown: 1,204,092; 319,862; 185,742; 50,699; 18,231).
• Price/value: $0.00 per share; total reported proceeds $0.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1 — Class B convertible 1:1 into Class A with no expiration; F2 — distributions were pro rata in-kind to partners/members; F3–F4 — SC US (TTGP) is GP for Sequoia fund entities and may be deemed to share voting/dispositive power, but disclaims beneficial ownership except for pecuniary interest.

Context

• These were derivative conversions and in-kind distributions by an institutional 10% owner (a general partner), not an executive selling or buying stock in the open market. There were no cash proceeds and this does not indicate a market purchase or sale.
• For retail investors: institutional conversions and internal distributions like this are administrative and related to fund/partnership mechanics rather than a direct bullish or bearish trade by company insiders.