Ethos (LIFE) 10% Owner SC US (TTGP), Ltd. Sells Shares

What Happened
SC US (TTGP), Ltd., a Sequoia-affiliated 10% owner of Ethos Technologies, converted Class B common stock into Class A shares and sold 142,616 Class A shares in open-market transactions on August 19–20, 2026. The conversions were recorded at $0 (one-for-one conversion of Class B to Class A), and the subsequent sales generated total cash proceeds of approximately $4.71 million. Sales were executed in multiple tranches with weighted-average prices in the low-to-mid $30s per share.

Key Details

• Transaction dates: Aug 19–20, 2026. Form filed Aug 21, 2026 (timely filing).
• Conversions (acquisitions at $0): 19,349; 15,472; 59,897; 47,898 — total 142,616 shares (Class B → Class A; no cash).
• Open-market sales (disposals): total 142,616 shares for combined proceeds ≈ $4,713,232. Reported weighted-average prices by tranche include ~$32.82, ~$32.52, ~$33.37 and ~$34.05; a footnote gives per-trade price ranges across these tranches.
• Shares owned after transaction: not specified in the supplied summary.
• Notable footnotes: F1 confirms Class B → Class A conversion is one-for-one with no expiration; F2–F3 and F8–F9 describe the reporting entity’s relationship to various Sequoia funds and include disclaimers about beneficial ownership; F4–F7 explain that the reported sale prices are weighted averages across multiple trades (ranges provided in the filing).
• Filing timeliness: appears timely (reported Aug 21 for Aug 19–20 transactions). No 10b5-1 plan or tax-withholding notes were disclosed in the provided excerpts.

Context
These entries reflect an institutional holder (Sequoia-affiliated funds) converting convertible shares and then selling the resulting Class A shares — a routine way for early investors to monetize holdings. Conversions were cashless (conversion of Class B to Class A), and matching sales indicate the converted shares were largely sold rather than retained. As a 10% owner and not an executive, this is institutional trading activity rather than executive insider signaling.