Sec Form 13G Filing - Schusterman Interests LLC filing for Root Inc. (ROOT) - 2024-03-20

CUSIP No. 77664L207

13G

Page 2 of 6 Pages

1

NAME OF REPORTING PERSON

 

SCHUSTERMAN INTERESTS, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐

(b)  ☐

 

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED

BY
EACH
REPORTING
PERSON

WITH

5

SOLE VOTING POWER

 

308,231

6

SHARED VOTING POWER

 

0

7

SOLE DISPOSITIVE POWER

 

308,231

8

SHARED DISPOSITIVE POWER

 

0

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

308,231

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES                                      ☐

 

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

3.2%

12

TYPE OF REPORTING PERSON

 

OO

Item 1(a)

Name of Issuer:

The name of the issuer is Root, Inc. (the “Company”).

Item 1(b)

Address of Issuer's Principal Executive Offices:

The Company’s principal executive offices are located at 80 E. Rich Street, Suite 500, Columbus, Ohio 43215.

Item 2(a)

Name of Person Filing:

This statement is filed by Schusterman Interests, LLC, a Delaware limited liability company (the “Manager”), which serves as the manager of certain accounts (collectively, the “Accounts”).

The foregoing person may be referred to hereinafter as the “Reporting Person.” Any disclosures herein with respect to persons other than the Reporting Person are made on information and belief after making inquiry to the appropriate party.

The filing of this statement should not be construed as an admission that the Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock (as defined below) reported herein.

Item 2(b)

ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

The address of the business office of the Reporting Person is 110 West Seventh Street, Suite 2000, Tulsa, Oklahoma 74119

Item 2(c)

CITIZENSHIP

The Manager and is organized under the laws of the State of Delaware.

Item 2(d)

TITLE OF CLASS OF SECURITIES

Class A common stock, par value $0.0001 per share (“Common Stock”)

Item 2(e)

CUSIP NUMBER

77664L207

Item 3

IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

None

Item 4

OWNERSHIP:

The percentages used herein and in the rest of this Schedule 13G are calculated based upon the 9,600,000 shares of Common Stock issued and outstanding as of February 15, 2024 as reflected in the Company’s Form 10-K for the fiscal year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission on February 21, 2024.

The information required by Items 4(a) – (c) is set forth in Rows 5-11 of the cover page for the Reporting Person and is incorporated herein by reference.

The Reporting Person does not directly own any Common Stock.  Pursuant to agency agreements regarding the Accounts, the Manager maintains voting and dispositive power with respect to the securities held by the Accounts.  Under the rules promulgated by the Securities and Exchange Commission, the Reporting Person may be deemed to beneficially own the Common Stock.  The Reporting Person hereby disclaims beneficial ownership of the securities covered by this statement.

Item 5

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following  [X].

Item 6

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

See Item 2. The Accounts have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock reported herein.

Item 7

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON:

Not applicable.

Item 8

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

Not applicable.

Item 9

NOTICE OF DISSOLUTION OF GROUP:

Not applicable.

Item 10

CERTIFICATION:

By signing below the Reporting Person certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Section 240.14a-11.

SCHUSTERMAN INTERESTS, LLC

By:

Name: Raquel Gozzi

Title:  Treasurer