Leach Bryan 4

What Happened

• Bryan Leach, a 10% owner of Ibotta, exercised stock options to acquire 9,326 shares at $3.99 per share (total reported exercise cost $37,211) and completed multiple open‑market sales of common stock on July 6, 2026. The reported sales produced aggregate proceeds of approximately $311,238, with individual sale prices ranging roughly from $32.11 to $35.28 per share (weighted averages reported for blocks).
• In addition, small conversions of Class B to Class A shares (38‑share lots) were reported. The transactions were effected pursuant to a Rule 10b5‑1 trading plan established March 5, 2026.

Key Details

• Transaction date: July 6, 2026; Form 4 filed July 8, 2026.
• Option exercise: 9,326 shares at $3.99 (total reported cost $37,211).
• Open‑market sales: multiple blocks totaling roughly 9.4K shares with weighted average sale prices in the $32.11–$35.28 range; total proceeds ≈ $311,238.
• Conversions: several 38‑share Class B→Class A conversions reported (non‑cash, 1‑for‑1 per footnotes).
• Plan / restrictions: trades were made under a pre‑established Rule 10b5‑1 plan (est. March 5, 2026).
• Shares owned after the transactions: not disclosed in the provided excerpt.
• Filing timing: Form 4 covers 7/6/26 transactions and was filed 7/8/26 (within the typical two‑business‑day reporting window).

Context

• Derivative explanation: The filing reports exercising options (code M) to acquire shares and conversions of Class B into Class A stock (no cash). Some of the exercised/converted shares were sold the same day, which results in immediate cash proceeds after paying exercise costs and any taxes/withholdings (if applicable).
• Investor takeaway: This was primarily a sale of shares funded by an option exercise under a 10b5‑1 plan. Sales by insiders can be routine (liquidity/tax reasons); purchases generally carry stronger bullish signals. This filing is factual reporting of transactions, not an explanation of the insider’s motivations.