Company: GROVW
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001628280-25-020642
Chunk: 39

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 39
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 (as adjusted for stock splits, combinations, stock dividends, recapitalizations and the like). The “Conversion Price” for shares of Preferred Stock is $2.11 (as adjusted for stock splits, combinations, stock dividends, recapitalizations and the like) per share. The “Subsequent Issuance Share Adjustment” for shares of Preferred Stock is initially equal to zero and shall be adjusted as set forth in Section 5(h) of the Amended and Restated Certificate of Designation of the Series A Convertible Preferred Stock. The Conversion Price is subject to adjustment for customary anti-dilution protections, including for stock dividends, splits, and combinations, rights offerings, spin-offs, distributions of cash or other property (to the extent not participating on an as-converted basis) and above market self-tender or exchange offers. The “Change of Control Limitation” is the maximum number of shares that may be beneficially owned by the holder of such shares without exceeding 29.99% of the voting power or the aggregate number of shares of Class A Common Stock on an as converted basis, issued and outstanding following such conversion.

For so long as 50% of the Preferred Shares remain outstanding, the Company will be prohibited, without the consent of the holders of at least a majority of the Preferred Shares, from taking various corporate actions. For so long as Volition Capital Fund IV and its affiliates continues to hold or beneficially own at least 20% of the Preferred Shares, it has a right to participate as investors in certain future financing transactions by the Company and may designate a director for appointment to the Board, provided such director is acceptable to the Company. Volition Capital Fund IV also cannot take certain actions if such action would result in Volition Capital Fund IV beneficially owning or voting in excess of 29.99% of the Company’s outstanding Class A Common Stock.

Larry Cheng is a director of the Company, a co-founder of Volition Capital, the investment firm that manages Volition Capital Fund IV, and has served as a managing partner of Volition Capital since 2010.

Certain Relationships and Related Person Transactions — Grove Collaborative, Inc.

Family Relationships

Alexandra Crane, Stuart Landesberg’s sister-in-law, is an employee of Grove. Her employment began in May 2015, prior to her marriage to Mr. Landesberg’s brother. Ms. Crane does not report to Mr. Landesberg. In 2024, Ms. Crane received a base salary of $200,050