SEC Form 4 question

[Groove]

Apologies if this is a simple question but I'm trying to understand Form 4's and insider transactions better. I'm using the following as an example:
SEC Filing | Peloton Interactive, Inc.
I'm noticing that this is a sale of ~20K shares, but then it lists 2 transactions at the top "acquiring" 7,917 and 7,083 shares for $0. Can someone explain what happened in this example? Does that mean he picked up 15K "free" shares from somewhere or was awarded them as compensation?

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[TraderDoc]

I'm not an expert on SEC Forms by any means, but on Form 4 a Transaction Code C -> Conversion of derivative security. Normally this means insider is converting derivative asset/securities into another asset, most commonly this security is options. Simply put the insider is likely exercising ability to convert their stock options into common stock. Hope this helps, and long $PTON

 

[Mman]

Apologies if this is a simple question but I'm trying to understand Form 4's and insider transactions better. I'm using the following as an example:
SEC Filing | Peloton Interactive, Inc.
I'm noticing that this is a sale of ~20K shares, but then it lists 2 transactions at the top "acquiring" 7,917 and 7,083 shares for $0. Can someone explain what happened in this example? Does that mean he picked up 15K "free" shares from somewhere or was awarded them as compensation?

at the bottom of the form it notes those were conversions of class B shares to class A shares. Can't sell class B shares but can convert them to class A which can then be sold (I think).