SC 13D/A 1 d754888dsc13da.htm SC 13D/A SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)*

EverQuote, Inc.

(Name of Issuer)

 

 

Class A Common Stock, $0.001 Par Value Per Share

(Title of Class of Securities)

30041R108

(CUSIP Number)

Link Ventures LLLP

One Kendall Square

Suite B2106

Cambridge, MA 02139

Attn: Dominic Lloyd

(781) 228-5674

With copy to:

John C. Partigan

Lloyd H. Spencer

Nixon Peabody LLP

799 9th Street NW, Suite 500

Washington, DC 20001

(202) 585-8000

((Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 3, 2024

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☒.

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on 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.

 

 

 


CUSIP No. 30041R108
 1    

 Name of Reporting Person

 

 David B. Blundin

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 United States

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 267,528 shares

    8   

 Shared Voting Power*

 

 7,775,926 shares

    9   

 Sole Dispositive Power

 

 267,528 shares

   10   

 Shared Dispositive Power*

 

 7,775,926 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 8,043,454 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 23.2%

14  

 Type of Reporting Person (See Instructions)

 

 IN

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


CUSIP No. 30041R108

 1    

 Name of Reporting Person

 

 Recognition Capital, LLC

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 0

    8   

 Shared Voting Power

 

 301,201 shares

    9   

 Sole Dispositive Power

 

 0

   10   

 Shared Dispositive Power

 

 301,201 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 301,201 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 0.9%

14  

 Type of Reporting Person (See Instructions)

 

 CO

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


CUSIP No. 30041R108

 1    

 Name of Reporting Person

 

 Link Ventures LLLP

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 0

    8   

 Shared Voting Power*

 

 7,081,357 shares

    9   

 Sole Dispositive Power

 

 0

   10   

 Shared Dispositive Power*

 

 7,081,357 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 7,081,357 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 20.4%

14  

 Type of Reporting Person (See Instructions)

 

 PN

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


CUSIP No. 30041R108

 1    

 Name of Reporting Person

 

 Link Management LLC

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 0

    8   

 Shared Voting Power*

 

 7,081,357 shares

    9   

 Sole Dispositive Power

 

 0

   10   

 Shared Dispositive Power*

 

 7,081,357 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 7,081,357 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 20.4%

14  

 Type of Reporting Person (See Instructions)

 

 CO

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


CUSIP No. 30041R108

 1    

 Name of Reporting Person

 

 Cogo Fund 2020, LLC

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 0

    8   

 Shared Voting Power

 

 393,268 shares

    9   

 Sole Dispositive Power

 

 0

   10   

 Shared Dispositive Power

 

 393,268 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 393,268 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 1.1%

14  

 Type of Reporting Person (See Instructions)

 

 CO

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


CUSIP No. 30041R108

 1    

 Name of Reporting Person

 

 Cogo Labs, LLC

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 0

    8   

 Shared Voting Power

 

 393,268 shares

    9   

 Sole Dispositive Power

 

 0

   10   

 Shared Dispositive Power

 

 393,268 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 393,268 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 1.1%

14  

 Type of Reporting Person (See Instructions)

 

 CO

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


CUSIP No. 30041R108

 1    

 Name of Reporting Person

 

 Link Equity Partners, LLC

 2  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) ☒  (b) ☐

 

 3  

 SEC Use Only

 

 4  

 Source of Funds

 

 OO

 5  

 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 ☐

 6  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares

Beneficially 

Owned by

Each

Reporting

Person

With

 

    7     

 Sole Voting Power

 

 0

    8   

 Shared Voting Power

 

 393,268 shares

    9   

 Sole Dispositive Power

 

 0

   10   

 Shared Dispositive Power

 

 393,268 shares

11    

 Aggregate Amount Beneficially Owned by Each Reporting Person*

 

 393,268 shares

12  

 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 ☐

13  

 Percent of Class Represented by Amount in Row (11)*

 

 1.1%

14  

 Type of Reporting Person (See Instructions)

 

 CO

 

*

Reflects Class B Common Stock of the Issuer on an as-converted to Class A Common Stock basis.


Amendment No. 6 to Schedule 13D

This Amendment No. 6 to Schedule 13D (the “Amendment No. 6”) is being filed by David B. Blundin, Recognition Capital, LLC (“Recognition Capital”), Link Ventures LLLP (“Link Ventures”), Link Management LLC (“Link Management”), Cogo Fund 2020, LLC (“Cogo Fund”), Cogo Labs, LLC (“Cogo Labs”), and Link Equity Partners, LLC (“LEP”). All such parties are collectively referred to herein as the Reporting Persons.

This Amendment No. 6 amends the Schedule 13D filed with the SEC on February 9, 2022, as amended by the Amendment No. 1 to Schedule 13D filed with the SEC on March 3, 2022, as further amended by the Amendment No. 2 to Schedule 13D filed with the SEC on March 28, 2022, as further amended by the Amendment No. 3 to Schedule 13D filed with the SEC on April 25, 2023, as further amended by the Amendment No. 4 to Schedule 13D filed with the SEC on February 20, 2024, and as further amended by the Amendment No. 5 to Schedule 13D filed with the SEC on March 15, 2024 (collectively, as amended, the “Schedule 13D”).

 

Item 1.

Security and Issuer.

Item 1 of the Schedule 13D is hereby amended and restated in its entirety as follows:

The title and class of equity securities to which the Schedule 13D relates is the Class A Common Stock, $0.001 par value per share (the “Class A Common Stock”), of EverQuote, Inc., a Delaware corporation (the “Issuer”). The principal executive offices of the Issuer are located at 210 Broadway, Cambridge, MA 02139.

 

Item 2.

Identity and Background.

Item 2 of the Schedule 13D is hereby revised and supplemented with the following:

(d) – (e) None of the Reporting Persons has, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he, she or it is or was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 4.

Purpose of Transaction.

Item 4 of the Schedule 13D is hereby revised and supplemented with the following:

The Reporting Persons set forth below sold the amount of shares of Class A Common Stock on the date and at the price set forth below by their name in open market transactions. All daily sales of the shares were sold in multiple transactions at varying prices. The Reporting Persons undertakes to provide EverQuote, Inc., any security holder of EverQuote, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this Schedule 13D. Transactions below noted with an “*” were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Persons on September 5, 2023.

March 15, 2024:

 

   

Link Ventures LLLP – 49,683 shares at a weighted average price of $18.09 per share (multiple transactions at prices ranging from $18.00 to $18.25 inclusive).

April 4, 2024:

 

   

David Blundin – 1,115 shares at a weighted average price of $20.08 per share (multiple transactions at prices ranging from $20.00 to $20.15 inclusive);*


   

Recognition Capital, LLC – 1,255 shares at a weighted average price of $20.08 per share (multiple transactions at prices ranging from $20.00 to $20.15 inclusive);* and

 

   

Link Ventures LLLP – 130 shares at a weighted average price of $20.08 per share (multiple transactions at prices ranging from $20.00 to $20.15 inclusive).*

April 12, 2024:

 

   

David Blundin – 936 shares at a weighted average price of $20.00 per share (multiple transactions at prices ranging from $20.00 to $20.03, inclusive);*

 

   

Recognition Capital, LLC – 1,055 shares at a weighted average price of $20.00 per share (multiple transactions at prices ranging from $20.00 to $20.03, inclusive);* and

 

   

Link Ventures LLLP – 109 shares at a weighted average price of $20.00 per share (multiple transactions at prices ranging from $20.00 to $20.03, inclusive).*

April 17, 2024:

 

   

David Blundin – 22,018 shares at a weighted average price of $20.48 per share (multiple transactions at prices ranging from $20.00 to $20.62, inclusive);*

 

   

Recognition Capital, LLC – 24,791 shares at a weighted average price of $20.48 per share (multiple transactions at prices ranging from $20.00 to $20.62, inclusive);* and

 

   

Link Ventures LLLP – 2,573 shares at a weighted average price of $20.48 per share (multiple transactions at prices ranging from $20.00 to $20.62, inclusive).*

April 30, 2024:

 

   

David Blundin – 58,434 shares at a weighted average price of $20.14 per share (multiple transactions at prices ranging from $20.00 to $20.41, inclusive);*

 

   

Recognition Capital, LLC – 65,788 shares at a weighted average price of $20.14 per share (multiple transactions at prices ranging from $20.00 to $20.41, inclusive);* and

 

   

Link Ventures LLLP – 6,830 shares at a weighted average price of $20.14 per share (multiple transactions at prices ranging from $20.00 to $20.41, inclusive).*

May 2, 2024

 

   

David Blundin – 23,362 shares at a weighted average price of $21.88 per share (multiple transactions at prices ranging from $21.70 to $22.26, inclusive);*

 

   

Recognition Capital, LLC – 26,304 shares at a weighted average price of $21.88 per share (multiple transactions at prices ranging from $21.70 to $22.26, inclusive);* and

 

   

Link Ventures LLLP – 2,730 shares at a weighted average price of $21.88 per share (multiple transactions at prices ranging from $21.70 to $22.26, inclusive).*

May 3, 2024

 

   

David Blundin – 41,789 shares at a weighted average price of $21.90 per share (multiple transactions at prices ranging from $21.70 to $22.10, inclusive);*


   

Recognition Capital, LLC – 47,050 shares at a weighted average price of $21.90 per share (multiple transactions at prices ranging from $21.70 to $22.10, inclusive);* and

 

   

Link Ventures LLLP – 4,884 shares at a weighted average price of $21.90 per share (multiple transactions at prices ranging from $21.70 to $22.10, inclusive).*

May 6, 2024

 

   

David Blundin – 11,897 shares at a weighted average price of $21.73 per share (multiple transactions at prices ranging from $21.70 to $21.82, inclusive);*

 

   

Recognition Capital, LLC – 13,396 shares at a weighted average price of $21. 73 per share (multiple transactions at prices ranging from $21.70 to $21.82, inclusive);* and

 

   

Link Ventures LLLP – 1,390 shares at a weighted average price of $21.73 per share (multiple transactions at prices ranging from $21.70 to $21.82, inclusive).*

May 7, 2024

 

   

David Blundin – 6,882 shares at a weighted average price of $22.00 per share (multiple transactions at prices ranging from $21.80 to $22.77, inclusive);*

 

   

David Blundin – 22,850 shares at a weighted average price of $23.42 per share (multiple transactions at prices ranging from $22.82 to $23.81, inclusive); *

 

   

David Blundin – 71,440 shares at a weighted average price of $24.16 per share (multiple transactions at prices ranging from $23.82 to $24.81, inclusive); *

 

   

David Blundin – 89,310 shares at a weighted average price of $25.28 per share (multiple transactions at prices ranging from $24.83 to $25.69, inclusive); *

 

   

Recognition Capital, LLC – 7,748 shares at a weighted average price of $22.00 per share (multiple transactions at prices ranging from $21.80 to $22.77, inclusive);*

 

   

Recognition Capital, LLC – 25,726 shares at a weighted average price of $23.42 per share (multiple transactions at prices ranging from $22.82 to $23.81, inclusive); *

 

   

Recognition Capital, LLC – 80,432 shares at a weighted average price of $24.16 per share (multiple transactions at prices ranging from $23.82 to $24.81, inclusive); *

 

   

Recognition Capital, LLC – 100,552 shares at a weighted average price of $25.28 per share (multiple transactions at prices ranging from $24.83 to $25.69, inclusive); *

 

   

Link Ventures LLLP – 804 shares at a weighted average price of $22.00 per share (multiple transactions at prices ranging from $21.80 to $22.77, inclusive);*

 

   

Link Ventures LLLP – 2,670 shares at a weighted average price of $23.42 per share (multiple transactions at prices ranging from $22.82 to $23.81, inclusive); *

 

   

Link Ventures LLLP – 8,349 shares at a weighted average price of $24.16 per share (multiple transactions at prices ranging from $23.82 to $24.81, inclusive); and*

 

   

Link Ventures LLLP – 10,438 shares at a weighted average price of $25.28 per share (multiple transactions at prices ranging from $24.83 to $25.69, inclusive). *

All of the shares that are held of record by the Reporting Persons as reported herein were acquired for investment purposes. The Reporting Persons retain the right to change their investment intent, from time to time to acquire additional shares of Class A Common Stock, Class B Common Stock or other securities of the Issuer, or to sell or otherwise dispose of all or part of such shares or other securities of the Issuer, if any, beneficially owned by them, in any manner permitted by law. The Reporting Persons may engage from time to time in ordinary course transactions with financial institutions with respect to the securities described herein.

None of the Reporting Persons currently has any other plans or proposals which would be related to or would result in any of the matters described in Items 4(a)-(j) of the Instructions to Schedule 13D. However, as part of the ongoing evaluation of investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the board of directors of the Issuer or other third parties regarding such matters.

 

Item 5.

Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby revised and supplemented with the following:

Please see Items 5, 6, 7, 8, 9 and 11 of each cover sheet for each Reporting Person.

Ownership is stated as of May 7, 2024 and the ownership percentages are based upon 29,121,059 shares of Class A common stock, $0.001 par value per share, issued and outstanding (the “Class A Common Stock”) and 5,604,278 shares of Class B common stock, $0.001 par value per share, issued and outstanding (the “Class B Common Stock”) as of April 8, 2024, as disclosed by the Issuer in its Form 10-Q for the period ended March 31, 2024, filed with the SEC on May 7, 2024. The Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis at the option of the holder.

As of May 7, 2024, (i) Mr. Blundin directly owned 267,528 shares of Class A Common Stock, and indirectly owned 100 shares of Class A Common Stock held by his son, and indirectly owned the shares held by Recognition Capital, Link Ventures and Cogo Fund; (ii) Recognition Capital directly owned 301,201 shares of Class A Common Stock; (iii) Link Ventures directly owned 1,524,895 shares of Class A Common Stock and 5,556,462 shares of Class B Common Stock; and (iv) Cogo Fund directly owned 393,268 shares of Class A Common Stock.

 

  (a)

See the information contained on the cover pages of this Schedule 13D, which is incorporated herein by reference.


  (b)

See the information contained on the cover pages of this Schedule 13D, which is incorporated herein by reference.

 

  (c)

Other than as previously disclosed in this Amendment No. 6, there have been no reportable transactions with respect to the shares of the Issuer since Amendment No. 5 was filed on March 15, 2024, by any of the Reporting Persons.

 

  (d)

Not applicable.

 

  (e)

Not applicable.

 

Item 7.

Material to Be Filed as Exhibits.

 

Exhibit

  

Description

99.1    Joint Filing Agreement, dated May 7, 2024, by and among David B. Blundin, Recognition Capital, LLC, Link Ventures LLLP, Link Management LLC, Cogo Fund 2020, LLC, Cogo Labs, LLC, and Link Equity Partners, LLC.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: May 7, 2024      
    /s/ David B. Blundin
    David B. Blundin
    RECOGNITION CAPITAL, LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Manager
    LINK VENTURES LLLP
    By:   Link Management LLC, its general partner
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Managing Member
    LINK MANAGEMENT LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Managing Member
    LINK EQUITY PARTNERS, LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Managing Member
    COGO FUND 2020, LLC
    By:   COGO LABS, LLC, its sole manager
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Chairman
   

COGO LABS, LLC

    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Chairman


JOINT FILING AGREEMENT

Pursuant to Rule 13d-1(k)(1)(iii) of the Securities Exchange Act of 1934, each of the undersigned agrees that a single joint Schedule 13D and any amendment thereto may be filed on behalf of each of the undersigned with respect to the securities held by each of them in EverQuote, Inc.

 

Dated: May 7, 2024      
    /s/ David B. Blundin
    David B. Blundin
    RECOGNITION CAPITAL, LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Manager
    LINK VENTURES LLLP
    By:   Link Management LLC, its general partner
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Managing Member
    LINK MANAGEMENT LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Managing Member
    LINK EQUITY PARTNERS, LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Managing Member
    COGO FUND 2020, LLC
    By:   COGO LABS, LLC, its sole manager
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Chairman
    COGO LABS, LLC
    By:   /s/ David B. Blundin
    Name:   David B. Blundin
    Title:   Chairman