Current Report Filing (8-k)
September 30 2021 - 8:47AM
Edgar (US Regulatory)
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2021-09-27
2021-09-27
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UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d)
of the Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): September 27, 2021
UBER TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-38902
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45-2647441
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(State or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(I.R.S. Employer Identification No.)
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1515 Third Street
San Francisco,
California 94158
(Address
of principal executive offices, including zip code)
(415) 612-8582
(Registrant’s
telephone number, including area code)
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
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Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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Common
Stock, par value $0.00001 per share
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UBER
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New
York Stock Exchange
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
o
If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events.
On September 27, 2021, Aleka Insurance, Inc. (“Aleka”),
a wholly-owned subsidiary of Uber Technologies, Inc. (“Uber”), entered into a Loss Portfolio Transfer Reinsurance Agreement
(the “LPTA”) with James River Insurance Company and James River Casualty Company, both wholly-owned subsidiaries of James
River Group Holdings, Ltd. (“James River”).
Pursuant to the LPTA, Aleka will reinsure certain automobile liability
insurance risks relating to activity on the Uber platform between 2013 and 2019 in exchange for payment by James River to Aleka of a premium
in the amount of approximately $345.1 million (“Premium”). In connection with the LPTA, claims currently administered by James
River will be transferred to a third-party claims administrator for ongoing handling. Uber expects to record expenses associated with
this transaction in the third quarter of 2021, which will be excluded from the quarter’s Adjusted EBITDA. The Premium and assets
presented as Collateral Held by Insurer on Uber’s consolidated balance sheet as of June 30, 2021 will be deposited into trusts and
presented as restricted cash, with an associated benefit to cash flows from operations in the third quarter of 2021.
Forward-Looking Statements
This Form 8-K contains forward-looking statements regarding our future
business expectations which involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported
results should not be considered as an indication of future performance. Forward-looking statements include all statements that are not
historical facts and can be identified by terms such as “anticipate,” “believe,” “contemplate,” “continue,”
“could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,”
“objective,” “ongoing,” “plan,” “potential,” “predict,” “project,”
“should,” “target,” “will,” or “would” or similar expressions and the negatives of those
terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking statements. These risks, uncertainties and other factors relate to, among others: the outcome of a tax case before the
UK tax authority related to classification as a transportation provider, developments in the COVID-19 pandemic and the resulting impact
on our business and operations, competition, managing our growth and corporate culture, financial performance, investments in new products
or offerings, our ability to attract drivers, consumers and other partners to our platform, our brand and reputation and other legal and
regulatory developments, particularly with respect to our relationships with drivers and couriers. For additional information on other
potential risks and uncertainties that could cause actual results to differ from the results predicted, please see our Annual Report on
Form 10-K for the year ended December 31, 2020 and subsequent quarterly reports and other filings filed with the Securities and Exchange
Commission from time to time. All information provided in this Form 8-K is as of the date of this Form 8-K and any forward-looking statements
contained herein are based on assumptions that we believe to be reasonable as of this date. Undue reliance should not be placed on the
forward-looking statements in this Form 8-K, which are based on information available to us on the date hereof. We undertake no duty to
update this information unless required by law.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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UBER
TECHNOLOGIES, INC.
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Date:
September 30, 2021
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By:
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/s/
Dara Khosrowshahi
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Dara Khosrowshahi
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Chief Executive Officer
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Uber Technologies (NYSE:UBER)
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