Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]
14 Febbraio 2024 - 6:32PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)*
Sweetgreen,
Inc.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
87043Q108
(CUSIP Number)
December 31, 2023
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to
designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☐ Rule 13d-1(c)
☒ Rule 13d-1(d)
* |
The remainder of this cover page shall be filled out for a reporting persons initial filing on this form
with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 87043Q108
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1. |
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Names of Reporting Persons
Jonathan Neman |
2. |
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Check the Appropriate Box if a Member of
a Group (see instructions) (a) ☐ (b) ☐ |
3. |
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SEC USE ONLY
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4. |
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Citizenship or Place of Organization
United States |
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Number of
Shares Beneficially
Owned by Each
Reporting Person With: |
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5. |
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Sole Voting Power
8,175,666 shares (See Item 4 herein) |
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6. |
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Shared Voting Power
50,000 (See Item 4 herein) |
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7. |
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Sole Dispositive Power
8,175,666 shares (see Item 4 herein) |
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8. |
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Shared Dispositive Power
50,000 (See Item 4 herein) |
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9. |
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Aggregate Amount Beneficially Owned by
Each Reporting Person 8,225,666 shares (See Item 4 herein) |
10. |
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Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (see instructions) ☐ |
11. |
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Percent of Class Represented by
Amount in Row 9 7.14% of Common Stock (7.69% of Class A Common Stock)(See Item
4 herein) |
12. |
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Type of
Reporting Person (see instructions) IN |
CUSIP No. 87043Q108
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1. |
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Names of Reporting Persons
Jonathan Neman Revocable Trust U/T/A dated October 7, 2016 |
2. |
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Check the Appropriate Box if a Member of
a Group (see instructions) (a) ☐ (b) ☐
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3. |
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SEC USE ONLY
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4. |
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Citizenship or Place of Organization
USA |
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Number of
Shares Beneficially
Owned by Each
Reporting Person With: |
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5. |
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Sole Voting Power
3,976,893 shares (see Item 4 herein) |
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6. |
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Shared Voting Power
0 (See Item 4 herein) |
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7. |
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Sole Dispositive Power
3,976,893 shares (see Item 4 herein) |
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8. |
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Shared Dispositive Power
0 (See Item 4 herein) |
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9. |
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Aggregate Amount Beneficially Owned by
Each Reporting Person 3,976,893 shares (See Item 4 herein) |
10. |
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Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (see instructions) ☐ |
11. |
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Percent of Class Represented by
Amount in Row 9 3.53% of Common Stock (3.84% of Class A Common Stock)(See Item
4 herein) |
12. |
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Type of
Reporting Person (see instructions) OO |
CUSIP No. 87043Q108
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1. |
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Names of Reporting Persons
Jonathan Neman 2014 GRAT |
2. |
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Check the Appropriate Box if a Member of
a Group (see instructions) (a) ☐ (b) ☐
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3. |
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SEC USE ONLY
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4. |
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Citizenship or Place of Organization
USA |
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Number of
Shares Beneficially
Owned by Each
Reporting Person With: |
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5. |
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Sole Voting Power
177,040 shares (See Item 4 herein) |
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6. |
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Shared Voting Power
0 (See Item 4 herein) |
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7. |
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Sole Dispositive Power
177,040 shares (See Item 4 herein) |
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8. |
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Shared Dispositive Power
0 (See Item 4 herein) |
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9. |
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Aggregate Amount Beneficially Owned by
Each Reporting Person 177,040 shares (See Item 4 herein) |
10. |
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Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (see instructions) ☐ |
11. |
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Percent of Class Represented by
Amount in Row 9 0.16% of Common Stock (0.18% of Class A Common Stock)(See Item
4 herein) |
12. |
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Type of
Reporting Person (see instructions) OO |
CUSIP No. 87043Q108
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1. |
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Names of Reporting Persons
Neman Descendants Trust U/T/A dated September 3, 2021 |
2. |
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Check the Appropriate Box if a Member of
a Group (see instructions) (a) ☐ (b) ☐
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3. |
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SEC USE ONLY
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4. |
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Citizenship or Place of Organization
USA |
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Number of
Shares Beneficially
Owned by Each
Reporting Person With: |
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5. |
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Sole Voting Power
500,000 shares (See Item 4 herein) |
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6. |
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Shared Voting Power
0 (See Item 4 herein) |
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7. |
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Sole Dispositive Power
500,000 shares (See Item 4 herein) |
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8. |
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Shared Dispositive Power
0 (see Item 4 herein) |
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9. |
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Aggregate Amount Beneficially Owned by
Each Reporting Person 500,000 shares (See Item 4 herein) |
10. |
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Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (see instructions) ☐ |
11. |
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Percent of Class Represented by
Amount in Row 9 0.44% of Common Stock (0.50% of Class A Common Stock)(See Item
4 herein) |
12. |
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Type of
Reporting Person (see instructions) OO |
CUSIP No. 87043Q108
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1. |
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Names of Reporting Persons
The JDRB Trust |
2. |
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Check the Appropriate Box if a Member of
a Group (see instructions) (a) ☐ (b) ☐
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3. |
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SEC USE ONLY
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4. |
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Citizenship or Place of Organization
USA |
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Number of
Shares Beneficially
Owned by Each
Reporting Person With: |
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5. |
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Sole Voting Power
943,991 shares (See Item 4 herein) |
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6. |
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Shared Voting Power
0 (See Item 4 herein) |
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7. |
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Sole Dispositive Power
943,991 shares (See Item 4 herein) |
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8. |
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Shared Dispositive Power
0 (See Item 4 herein) |
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9. |
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Aggregate Amount Beneficially Owned by
Each Reporting Person 943,991 shares (See Item 4 herein) |
10. |
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Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (see instructions) ☐ |
11. |
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Percent of Class Represented by
Amount in Row 9 0.84% of Common Stock (0.95% of Class A Common Stock)(See Item
4 herein) |
12. |
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Type of
Reporting Person (see instructions) OO |
Item 1(a). |
Name of Issuer: Sweetgreen, Inc. |
Item 1(b). |
Address of Issuers Principal Executive Offices: 3102 36th Street, Los Angeles, CA 90018
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Item 2(a). |
Name of Person Filing: |
Jonathan Neman
Jonathan Neman
Revocable Trust U/T/A dated October 7, 2016 (Revocable Trust)
Jonathan Neman 2014 GRAT (2014 GRAT)
The JDRB Trust (JDRB Trust)
Neman Descendants Trust U/T/A dated September 3, 2021 (Descendants Trust)
Item 2(b). |
Address of Principal Business Office or, if none, Residence: The address and principal business office
of the Reporting Person is: |
c/o Sweetgreen, Inc.
3102 36th Street
Los Angeles, CA
90018
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Jonathan Neman |
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US Citizen |
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Revocable Trust |
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California |
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2014 GRAT |
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District of Columbia |
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JDRB Trust |
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California |
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Descendants Trust |
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Delaware |
Item 2(d). |
Title of Class of Securities: Class A Common Stock |
Item 2(e). |
CUSIP Number: 87043Q108 |
Item 3. |
If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: |
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(a) |
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Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); |
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(b) |
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Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); |
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(c) |
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Insurance company as defined in section 3(a)19) of the Act (15 U.S.C. 78c); |
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(d) |
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Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); |
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(e) |
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An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); |
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(f) |
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An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); |
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(g) |
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A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); |
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(h) |
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A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
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(i) |
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A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
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(j) |
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A non-U.S. institution in accordance with §240.13d1(b)(1)(ii)(J); |
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(k) |
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Group, in accordance with §240.13d1(b)(1)(ii)(K). |
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If filing as a non-U.S. institution in accordance with §240.13d1(b)(1)(ii)(J), please specify the type of institution: ____ |
Provide |
the following information regarding the aggregate number and percentage of the class of securities of the
Issuer identified in Item 1. |
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(a) |
Amount Beneficially Owned: |
Includes 3,976,893 shares of Class B Common Stock held by the Revocable Trust, 177,040 shares of Class B Common Stock held by the
2014 GRAT, 500,000 shares of Class B Common Stock held by the Descendants Trust, 943,991 shares of Class A Common Stock held by JDRB Trust, 50,000 shares of Class A Common Stock held by Jonathan Nemans spouse, Leora Kadisha, and
2,577,742 shares of Class A Common Stock issuable pursuant to stock options exercisable within 60 days of December 31, 2023. The Class B Common Stock is convertible at the holders option into the Issuers Class A
Common Stock on a 1-for-1 basis. The holders of Class B Common Stock are entitled to ten votes per shares and the holder of Class A Common Stock are entitled
to one vote per share.
Based on (i) 99,700,052 shares of the Issuers Class A Common Stock issued and outstanding and (ii) 12,939,094 shares of the
Issuers Class B Common Stock (together with the Class A Common Stock, the Common Stock) issued and outstanding, in each case, as of December 31, 2023, and the information set forth in (a) above, Jonathan Neman
beneficially owned 7.14% of the Issuers outstanding Common Stock, representing 21.63% of the total voting power of the Issuers outstanding Common Stock, and beneficially owned 7.69% of the Issuers Class A Common Stock
(treating only those shares of Class B Common Stock beneficially owned by Mr. Neman as converted to Class A Common Stock for purposes of computing this percentage), the Revocable Trust beneficially owned 3.53% of the Issuers
outstanding Common Stock, representing 17.36% of the total voting power of the Issuers outstanding Common Stock, and beneficially owned 3.84% of the Issuers Class A Common Stock (treating only those shares of Class B Common
Stock beneficially owned by the Revocable Trust as converted to Class A Common Stock for purposes of computing this percentage), the 2014 GRAT beneficially owned 0.16% of the Issuers outstanding Common Stock, representing 0.77% of the
total voting power of the Issuers outstanding Common Stock, and beneficially owned 0.18% of the Issuers Class A Common Stock (treating only those shares of Class B Common Stock beneficially owned by the 2014 GRAT as converted
to Class A Common Stock for purposes of computing this percentage), the Descendants Trust beneficially owned 0.44% of the Issuers outstanding Common Stock, representing 2.18% of the total voting power of the Issuers outstanding
Common Stock, and beneficially owned 0.50% of the Issuers Class A Common Stock (treating only those shares of Class B Common Stock beneficially owned by the Descendants Trust as converted to Class A Common Stock for purposes of
computing this percentage) and JDRB beneficially owned 0.84% of the Issuers outstanding Common Stock, representing 0.41% of the total voting power of the Issuers outstanding Common Stock, and beneficially owned 0.95% of the Issuers
Class A Common Stock.
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(c) |
Number of shares as to which the person has: |
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(i) |
Sole power to vote or to direct the vote: |
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Jonathan Neman |
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8,175,666(1) |
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Revocable Trust |
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3,976,893 |
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2014 GRAT |
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177,040 |
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JDRB Trust |
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943,991 |
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Descendants Trust |
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500,000 |
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(ii) |
Shared power to vote or to direct the vote: |
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Jonathan Neman |
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50,000(2) |
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Revocable Trust |
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0 |
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2014 GRAT |
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0 |
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JDRB Trust |
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0 |
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Descendants Trust |
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0 |
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(iii) |
Sole power to dispose or to direct the disposition of: |
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Jonathan Neman |
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8,175,666(1) |
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Revocable Trust |
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3,976,893 |
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2014 GRAT |
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177,040 |
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JDRB Trust |
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943,991 |
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Descendants Trust |
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500,000 |
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(iv) |
Shared power to dispose or to direct the disposition of: |
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Jonathan Neman |
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50,000(2) |
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Revocable Trust |
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0 |
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2014 GRAT |
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0 |
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JDRB Trust |
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0 |
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Descendants Trust |
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0 |
(1) |
Includes 2,577,742 shares of Class A Common Stock issuable pursuant to stock options exercisable within 60
days of December 31, 2023. |
(2) |
Includes 50,000 shares held by Jonathan Nemans spouse. |
Item 5. |
Ownership of 5 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 ☐.
Item 6. |
Ownership of More than 5 Percent on Behalf of Another Person |
Not applicable.
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 a Group |
Not applicable.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 14, 2024
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/s/ Jonathan Neman |
Jonathan Neman |
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JONATHAN NEMAN REVOCABLE TRUST U/T/A DATED OCTOBER 7, 2016 |
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/s/ Jonathan Neman |
By: Jonathan Neman, Trustee |
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JONATHAN NEMAN 2014 GRAT |
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/s/ Nicolas Jammet |
By: Nicolas Jammet, Trustee |
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NEMAN DESCENDANTS TRUST U/T/A DATED SEPTEMBER 3, 2021; J.P. MORGAN TRUST COMPANY
OF DELAWARE, TRUSTEE |
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By: |
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/s/ Nicholas Frederick |
Name: JP Morgan Trust Company of Delaware |
Title: Trustee |
Its: Associate |
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THE JDRB TRUST |
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/s/ John Neman |
By: John Neman, Trustee |
EXHIBITS
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A: |
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Joint Filing Agreement |
EXHIBIT A
JOINT FILING AGREEMENT
In
accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments
thereto) with respect to the Common Stock of Sweetgreen, Inc. and further agree that this agreement be included as an exhibit to such filing. Each party to the agreement expressly authorizes each other party to file on its behalf any and all
amendments to such statement. Each party to this agreement agrees that this joint filing agreement may be signed in counterparts.
In
evidence whereof, the undersigned have caused this Agreement to be executed on their behalf this 14th day of February 2024.
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/s/ Jonathan Neman |
Jonathan Neman |
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JONATHAN NEMAN REVOCABLE TRUST U/T/A DATED OCTOBER 7, 2016 |
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/s/ Jonathan Neman |
By: Jonathan Neman, Trustee |
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JONATHAN NEMAN 2014 GRAT |
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/s/ Nicolas Jammet |
By: Nicolas Jammet, Trustee |
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NEMAN DESCENDANTS TRUST U/T/A DATED SEPTEMBER 3, 2021; J.P. MORGAN TRUST COMPANY
OF DELAWARE, TRUSTEE |
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By: |
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/s/ Nicholas Frederick |
Name: |
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JP Morgan Trust Company of Delaware |
Title: |
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Trustee |
Its: Associate |
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THE JDRB TRUST |
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/s/ John Neman |
By: John Neman, Trustee |
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