Sec Form 4 Filing - SCFF MANAGEMENT LLC @ Elevate Credit, Inc. - 2020-03-13

Insider filing report for Changes in Beneficial Ownership
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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
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1. Name and Address of Reporting Person
SCFF MANAGEMENT LLC
2. Issuer Name and Ticker or Trading Symbol
Elevate Credit, Inc. [ ELVT]
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)
2800 SAND HILL ROAD, SUITE 101
3. Date of Earliest Transaction (MM/DD/YY)
03/13/2020
(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
Common Stock 03/13/2020 S 10,932 D $ 2.537 ( 1 ) 3,642,506 I By Sequoia Capital Growth Fund III, L.P. ( 4 ) ( 7 )
Common Stock 03/16/2020 S 7,320 D $ 2.216 ( 2 ) 3,635,186 I By Sequoia Capital Growth Fund III, L.P. ( 4 ) ( 7 )
Common Stock 03/17/2020 S 11,442 D $ 1.969 ( 3 ) 3,623,744 I By Sequoia Capital Growth Fund III, L.P. ( 4 ) ( 7 )
Common Stock 03/13/2020 S 1,925 D $ 2.537 ( 1 ) 641,537 I By Sequoia Capital IX, L.P. ( 5 ) ( 7 )
Common Stock 03/16/2020 S 1,289 D $ 2.216 ( 2 ) 640,248 I By Sequoia Capital IX, L.P. ( 5 ) ( 7 )
Common Stock 03/17/2020 S 2,015 D $ 1.969 ( 3 ) 638,233 I By Sequoia Capital IX, L.P. ( 5 ) ( 7 )
Common Stock 03/13/2020 S 1,835 D $ 2.537 ( 1 ) 611,602 I By Sequoia Capital Franchise Fund, L.P. ( 6 ) ( 7 )
Common Stock 03/16/2020 S 1,229 D $ 2.216 ( 2 ) 610,373 I By Sequoia Capital Franchise Fund, L.P. ( 6 ) ( 7 )
Common Stock 03/17/2020 S 1,921 D $ 1.969 ( 3 ) 608,452 I By Sequoia Capital Franchise Fund, L.P. ( 6 ) ( 7 )
Common Stock 03/13/2020 S 535 D $ 2.537 ( 1 ) 178,391 I By Sequoia Capital Growth III Principals Fund, LLC ( 4 ) ( 7 )
Common Stock 03/16/2020 S 359 D $ 2.216 ( 2 ) 178,032 I By Sequoia Capital Growth III Principals Fund, LLC ( 4 ) ( 7 )
Common Stock 03/17/2020 S 560 D $ 1.969 ( 3 ) 177,472 I By Sequoia Capital Growth III Principals Fund, LLC ( 4 ) ( 7 )
Common Stock 03/13/2020 S 250 D $ 2.537 ( 1 ) 83,389 I By Sequoia Capital Franchise Partners, L.P. ( 6 ) ( 7 )
Common Stock 03/16/2020 S 168 D $ 2.216 ( 2 ) 83,221 I By Sequoia Capital Franchise Partners, L.P. ( 6 ) ( 7 )
Common Stock 03/17/2020 S 262 D $ 1.969 ( 3 ) 82,959 I By Sequoia Capital Franchise Partners, L.P. ( 6 ) ( 7 )
Common Stock 03/13/2020 S 120 D $ 2.537 ( 1 ) 40,253 I By Sequoia Capital Growth Partners III, L.P. ( 4 ) ( 7 )
Common Stock 03/16/2020 S 81 D $ 2.216 ( 2 ) 40,172 I By Sequoia Capital Growth Partners III, L.P. ( 4 ) ( 7 )
Common Stock 03/17/2020 S 126 D $ 1.969 ( 3 ) 40,046 I By Sequoia Capital Growth Partners III, L.P. ( 4 ) ( 7 )
Common Stock 03/13/2020 S 80 D $ 2.537 ( 1 ) 26,726 I By Sequoia Capital Entrepreneurs Annex Fund, L.P. ( 5 ) ( 7 )
Common Stock 03/16/2020 S 54 D $ 2.216 ( 2 ) 26,672 I By Sequoia Capital Entrepreneurs Annex Fund, L.P. ( 5 ) ( 7 )
Common Stock 03/17/2020 S 84 D $ 1.969 ( 3 ) 26,588 I By Sequoia Capital Entrepreneurs Annex Fund, L.P. ( 5 ) ( 7 )
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
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SCFF MANAGEMENT LLC
2800 SAND HILL ROAD, SUITE 101
MENLO PARK, CA94025
X
SC IX.I MANAGEMENT, LLC
2800 SAND HILL ROAD, SUITE 101
MENLO PARK, CA94025
X
Signatures
/s/ Jung Yeon Son, by power of attorney for Douglas M. Leone, a Managing Member of SCFF Management, LLC 03/17/2020
Signature of Reporting Person Date
/s/ Jung Yeon Son, by power of attorney for Douglas M. Leone, a Managing Member of SC IX.I Management, LLC 03/17/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.43 to $2.60, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.
( 2 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.10 to $2.30, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4.
( 3 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.90 to $2.05, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3) to this Form 4.
( 4 )SCGF III Management, LLC is the general partner of each of Sequoia Capital Growth Partners III, L.P. and Sequoia Capital Growth Fund III, L.P., and is the managing member of Sequoia Capital Growth III Principals Fund, LLC. As a result, SCGF III Management, LLC may be deemed to share voting and dispositive power with respect to the shares held by Sequoia Capital Growth Partners III, L.P., Sequoia Capital Growth Fund III, L.P. and Sequoia Capital Growth III Principals Fund, LLC.
( 5 )SC IX.I Management, LLC is the general partner of each of Sequoia Capital IX, L.P. and Sequoia Capital Entrepreneurs Annex Fund, L.P. As a result, SC IX.I Management, LLC may be deemed to share voting and dispositive power with respect to the shares held by Sequoia Capital IX, L.P. and Sequoia Capital Entrepreneurs Annex Fund, L.P.
( 6 )SCFF Management, LLC is the general partner of Sequoia Capital Franchise Fund L.P. and Sequoia Capital Franchise Partners, L.P. The managing members of SCFF Management, LLC are Douglas M. Leone and Michael J. Moritz. SCFF Management, LLC and each of the managing members of SCFF Management, LLC may be deemed to share beneficial ownership of the shares held by the Sequoia Capital Franchise Fund L.P. and Sequoia Capital Franchise Partners, L.P. As a result, SCFF Management, LLC and each of the managing members of SCFF Management, LLC may be deemed to share voting and dispositive power with respect to the shares held by Sequoia Capital Franchise Fund L.P. and Sequoia Capital Franchise Partners, L.P.
( 7 )Each of the Reporting Persons disclaims beneficial ownership of these securities except to the extent of his or its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes

Remarks:
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