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FIT Fitbit Inc

6.93
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Fitbit Inc NYSE:FIT NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.93 0 01:00:00

Statement of Changes in Beneficial Ownership (4)

17/11/2016 8:57pm

Edgar (US Regulatory)


FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

True Venture Partners II, L.L.C.
2. Issuer Name and Ticker or Trading Symbol

FITBIT INC [ FIT ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

530 LYTTON AVE., SUITE 303
3. Date of Earliest Transaction (MM/DD/YYYY)

11/16/2016
(Street)

PALO ALTO, CA 94301
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock   11/16/2016     C    2000005   A $0.00   (1) 2000005   I   By True Ventures II, L.P.   (2)
Class A Common Stock   11/16/2016     J (3)    2000005   D $0.00   0   I   By True Ventures II, L.P.   (2)
Class A Common Stock   11/16/2016     J (3)    120526   A $0.00   969337   I   See footnote   (4)
Class A Common Stock   11/16/2016     J (3)    2258   A $0.00   20966   I   See footnote   (5)
Class A Common Stock                  13671   I   By True Venture Management, L.L.C.   (6)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock     (1) 11/16/2016     C         2000005      (1)   (1) Class A Common Stock   2000005     (1) 14297079   I   By True Ventures II, L.P.   (2)

Explanation of Responses:
( 1)  Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. The Class B Common Stock will convert automatically into Class A Common Stock on the same basis upon the earlier of: (i) any transfer, whether or not for value, except for certain "Permitted Transfers" as defined in the Issuer's restated certificate of incorporation in effect as of the date hereof, (ii) the affirmative vote of the holders of Class B Common Stock representing not less than a majority of the outstanding shares of Class B Common Stock, or (iii) June 17, 2027.
( 2)  Shares held of record by True Ventures II, L.P., or TV II, a Delaware limited partnership, for itself and as nominee for True Ventures II-A, L.P., or TV II-A, a Delaware limited partnership. True Venture Partners II, L.L.C., or TVP II, a Delaware limited liability company, is the general partner of each of TV II and TV II-A. Jon Callaghan, a member of the Issuer's Board of Directors, and Philip Black are the managing members of TVP II and, therefore, may be deemed to share voting and dispositive power over the shares held by TV II and TV II-A.
( 3)  Represents a pro-rata, in-kind distribution by True Ventures II, L.P. and its affiliated funds and associated persons, without additional consideration, to their respective partners, members and assigns.
( 4)  Shares are held directly by a family trust controlled by Philip D. Black.
( 5)  Shares are held directly by a limited liability company controlled by Philip D. Black.
( 6)  Shares are held directly by True Venture Management, L.L.C., which is controlled by Jon Callaghan and Philip D. Black.

Remarks:
Each Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of any securities (except to the extent of such person's pecuniary interest in such securities). *This report is one of two reports, each on a separate Form 4, but relating to the same transaction being filed by entities affiliated with True Ventures and their associated managing members.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
True Venture Partners II, L.L.C.
530 LYTTON AVE., SUITE 303
PALO ALTO, CA 94301

X

Black Philip Douglas
530 LYTTON AVE., SUITE 303
PALO ALTO, CA 94301

X

True Ventures II, L.P.
530 LYTTON AVE., SUITE 303
PALO ALTO, CA 94301

X

True Ventures II-A, L.P.
530 LYTTON AVE., SUITE 303
PALO ALTO, CA 94301

X


Signatures
/s/ James G. Stewart, attorney-in-fact, for True Ventures II, L.L.C. 11/17/2016
** Signature of Reporting Person Date

James G. Stewart, attorney-in-fact, for Philip D. Black 11/17/2016
** Signature of Reporting Person Date

James G. Stewart, attorney-in-fact, for True Ventures II, L.L.C., the general partner of True Ventures II, L.P. 11/17/2016
** Signature of Reporting Person Date

James G. Stewart, attorney-in-fact, for True Ventures II, L.L.C., the general partner of True Ventures II-A, L.P. 11/17/2016
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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