Madrone Sold 750,000 StoneCo Shares At A $11.90 Average; Penner Group Still Holds 10.8%
Amendment No. 3 to the Schedule 13D reports one open-market sale and contains no board letter, nominations or demands.
Madrone Partners, the venture capital firm where Gregory Penner is a managing director, sold 750,000 StoneCo Class A shares on the open market, according to Amendment No. 3 to its Schedule 13D, filed Wednesday. Penner and four affiliated reporting persons still report beneficial ownership of 10.8% of the class, or 25,228,161 shares.
What the amendment says
The filing's event date is October 5. The only transaction listed is Madrone's sale of 750,000 shares at a weighted average price of $11.90, within a range of $11.75 to $12.02.
The reporting persons say they will give the issuer, any security holder or SEC staff the breakdown of shares sold at each separate price, on request.
The amendment contains no board letter, no nominations and no demands. It amends and supplements the original statement and says information not amended remains unchanged. It is a position update, not an escalation.
The percentages rest on 232,663,503 Class A shares outstanding as of December 31, 2025, as reported in StoneCo's annual report on Form 20-F filed April 23, 2026.
Who holds what
The reporting persons are Madrone Partners, its general partner Madrone Capital Partners, and managing directors Penner, Jameson McJunkin and Thomas Patterson. Madrone's principal business is venture capital investments.
Madrone holds 24,589,276 shares directly, or 10.6% of the class. McJunkin reports 10.7%, or 24,911,276 shares, which includes 322,000 held through the McJunkin Living Trust, where he is a co-trustee.
Penner's 25,228,161 shares include 638,885 held through Shimoda Holdings LLC, a family LLC he manages as a managing member, on top of the Madrone position over which he shares voting power. Patterson reports the same 24,589,276 shares as Madrone.
Filing history and the stock
The Schedule 13D was first filed on November 7, 2018. The filing says it was amended on December 12, 2018 and December 18, 2020.
StoneCo shares closed at $11.51 on Wednesday, down 0.95%, and were unchanged in after-hours trading, according to market data. The company's market capitalization was $2.7 billion.
The filing reports no transactions by any reporting person in the past sixty days other than Madrone's October 5 sale.
