Sec Form 4 Filing - TCV IX Cycle, L.P. @ PELOTON INTERACTIVE, INC. - 2021-11-16

Insider filing report for Changes in Beneficial Ownership
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5
1. Name and Address of Reporting Person
TCV IX Cycle, L.P.
2. Issuer Name and Ticker or Trading Symbol
PELOTON INTERACTIVE, INC. [ PTON]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
May be part of 13(d) group
(Last) (First) (Middle)
C/O TCV, 250 MIDDLEFIELD ROAD
3. Date of Earliest Transaction (MM/DD/YY)
11/16/2021
(Street)
MENLO PARK, CA94025
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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 11/18/2021 P 1,084,678 A $ 46 1,312,859 I TCV IX, L.P.( 1 )
Class A Common Stock 11/18/2021 P 306,056 A $ 46 370,440 I TCV IX (A) Opportunities, L.P.( 2 )
Class A Common Stock 11/18/2021 P 57,930 A $ 46 70,116 I TCV IX (B), L.P.( 3 )
Class A Common Stock 11/18/2021 P 83,629 A $ 46 101,221 I TCV Member Fund, L.P.( 4 )
Class A Common Stock 11/16/2021 C 57,089( 5 ) A $ 0 1,289,585 D( 6 )
Class A Common Stock 11/16/2021 C 16,109( 5 ) A $ 0 363,879 I TCV IX Cycle (A), L.P.( 7 )
Class A Common Stock 11/16/2021 C 3,050( 5 ) A $ 0 68,880 I TCV IX Cycle (B), L.P.( 8 )
Class A Common Stock 11/16/2021 C 4,403( 5 ) A $ 0 99,433 I TCV IX Cycle (MF), L.P.( 9 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 ( 10 ) 11/16/2021 C 57,089( 11 ) ( 10 ) ( 10 ) Class A Common Stock 57,089 $ 0 9,091,405 D( 6 )
Class B Common Stock ( 10 ) 11/16/2021 C 16,109( 11 ) ( 10 ) ( 10 ) Class A Common Stock 16,109 $ 0 2,565,254 I TCV IX Cycle (A), L.P.( 7 )
Class B Common Stock ( 10 ) 11/16/2021 C 3,050( 11 ) ( 10 ) ( 10 ) Class A Common Stock 3,050 $ 0 485,543 I TCV IX Cycle (B), L.P.( 8 )
Class B Common Stock ( 10 ) 11/16/2021 C 4,403( 11 ) ( 10 ) ( 10 ) Class A Common Stock 4,403 $ 0 704,842 I TCV IX Cycle (MF), L.P.( 9 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
TCV IX Cycle, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X May be part of 13(d) group
TCV IX Cycle (A), L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of 13(d) group
TCV IX Cycle (B), L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of 13(d) group
TCV IX Cycle (MF), L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of 13(d) group
TCV IX, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X May be part of 13(d) group
TCV IX (B), L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of 13(d) group
TCV Member Fund, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
May be part of 13(d) group
Technology Crossover Management IX, Ltd.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X May be part of 13(d) group
Technology Crossover Management IX, L.P.
C/O TCV
250 MIDDLEFIELD ROAD
MENLO PARK, CA94025
X May be part of 13(d) group
Signatures
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX Cycle, L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX Cycle (A), L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX Cycle (B), L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX (B), L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX Cycle (MF), L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX, L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV IX (A) Opportunities, L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for Technology Crossover Management IX, L.P. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory Technology Crossover Management IX, Ltd. 11/18/2021
Signature of Reporting Person Date
/s/ Frederic D. Fenton, Authorized Signatory for TCV Member Fund, L.P. 11/18/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These shares are directly held by TCV IX, L.P. ("TCV IX"). Jay C. Hoag is a Class A Member of Technology Crossover Management IX, Ltd. ("Management IX") and a limited partner of Technology Crossover Management IX, L.P. ("TCM IX"). Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX. Mr. Hoag, Management IX, and TCM IX may be deemed to beneficially own the shares held by TCV IX but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 2 )These shares are directly held by TCV IX (A) Opportunities, L.P. ("TCV IX A Opportunities"). Mr. Hoag is a Class A Member of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX A Opportunities. Management IX is also the sole general partner of TCV IX (A), L.P. which is sole shareholder of TCV IX (A) Opportunities, Ltd., which in turn is the sole limited partner of TCV IX A Opportunities. Mr. Hoag, Management IX, TCM IX, TCV IX (A), L.P. and TCV IX (A) Opportunities, Ltd. may be deemed to beneficially own the shares held by TCV IX A Opportunities but each disclaims beneficial ownership of such shares except to the except of their pecuniary interest therein.
( 3 )These shares are directly held by TCV IX (B), L.P. ("TCV IX (B)"). Jay C. Hoag is a Class A Member of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX (B). Mr. Hoag, Management IX, and TCM IX may be deemed to beneficially own the shares held by TCV IX (B) but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 4 )These shares are directly held by TCV Member Fund, L.P. ("TCV MF"). Mr. Hoag is a Class A Member of Management IX. Management IX is a general partner of TCV MF. Mr. Hoag is also a limited partner of TCV MF. Mr. Hoag and Management IX may be deemed to beneficially own the shares held by TCV MF but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 5 )Represents the number of shares that were acquired upon conversion of Class B Common Stock to Class A Common Stock.
( 6 )These shares are directly held by TCV IX Cycle, L.P. ("Cycle IX"). Jay C. Hoag is a Class A Member of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX, which in turn is the sole member of TCV IX Cycle GP, LLC ("TCV IX Cycle GP"), which in turn is the sole general partner of Cycle IX. Mr. Hoag, Management IX, TCM IX, TCV IX, L.P. and TCV IX Cycle GP may be deemed to beneficially own the shares held by Cycle IX but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 7 )These shares are directly held by TCV IX Cycle (A), L.P. ("Cycle A IX"). Mr. Hoag is a Class A Member of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX, which in turn is the sole member of TCV IX Cycle GP, which in turn is the sole general partner of Cycle A IX. Mr. Hoag, Management IX, TCM IX, TCV IX and TCV IX Cycle GP may be deemed to beneficially own the shares held by Cycle A IX but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 8 )These shares are directly held by TCV IX Cycle (B), L.P. ("Cycle B IX"). Mr. Hoag is a Class A Member of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX, which in turn is the sole member of TCV IX Cycle GP, which in turn is the sole general partner of Cycle B IX. Mr. Hoag, Management IX, TCM IX, TCV IX and TCV IX Cycle GP may be deemed to beneficially own the shares held by Cycle B IX but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 9 )These shares are directly held by TCV Cycle IX (MF), L.P. ("Cycle MF IX"). Mr. Hoag is a Class A Member of Management IX and a limited partner of TCM IX. Management IX is the sole general partner of TCM IX, which in turn is the sole general partner of TCV IX, which in turn is the sole member of TCV IX Cycle GP, which in turn is the sole general partner of Cycle MF IX. Mr. Hoag is also a limited partner of TCV MF, which is the sole limited partner of Cycle MF IX. Mr. Hoag, Management IX, TCM IX, TCV IX and TCV IX Cycle GP may be deemed to beneficially own the shares held by Cycle MF IX but each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein.
( 10 )Each share of the issuer's Class B Common Stock will automatically be converted into one (1) share of the issuer's Class A Common Stock (a) at the option of the holder and (b) immediately prior to the close of business on the earliest of (i) ten (10) years from the closing of the issuer's IPO, (ii) the date on which the outstanding shares of Class B Common Stock represent less than one percent (1%) of the aggregate number of shares of Class A Common Stock and Class B Common Stock then outstanding or (iii) the date specified by the affirmative vote of the holders of Class B Common Stock representing not less than two-thirds (2/3) of the voting power of the outstanding shares of Class B Common Stock, voting separately as a single class, and has no expiration date.
( 11 )The holder elected to convert the Class B Common Stock to Class A Common Stock on a 1-for-1 basis.

Remarks:
This Form 4 is filed by more than one Reporting Person and is a joint filing with the Form 4 filed by TCV X Cycle, L.P., TCV X Cycle (A), L.P., TCV X Cycle (B), L.P., TCV X Cycle (MF), L.P., TCV X, L.P., TCV X (A), L.P., TCV X (B), L.P., TCV X Member Fund, L.P., Technology Crossover Management X, L.P., Technology Crossover Management X, Ltd., and Jay C. Hoag on November 18, 2021.

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 Number.