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Filing Details

Accession Number:: 0001012975-16-001603
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-11-23 16:09:25
Reporting Period:: 2016-11-21

Filing Date:: 2016-11-23
Accepted Time:: 2016-11-23 16:09:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1659228	Bats Global Markets Inc.	BATS	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1425004	Christopher Mitchell	C/O Spectrum Equity One International Place Boston MA 02110		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2016-11-21	4,493	$31.21	9,630	No	4	S	Indirect	By Spectrum VI Investment Managers' Fund, L.P.
Common Stock	Disposition	2016-11-21	727	$31.21	1,559	No	4	S	Indirect	By Spectrum VI Co-Investment Fund, L.P.
Common Stock	Disposition	2016-11-21	1,859,633	$31.21	3,984,419	No	4	S	Indirect	By Spectrum Equity Investors VI, L.P.
Common Stock	Disposition	2016-11-22	214	$31.20	9,416	No	4	S	Indirect	By Spectrum VI Investment Managers' Fund, L.P.
Common Stock	Disposition	2016-11-22	35	$31.20	1,524	No	4	S	Indirect	By Spectrum VI Co-Investment Fund, L.P.
Common Stock	Disposition	2016-11-22	88,384	$31.20	3,896,035	No	4	S	Indirect	By Spectrum Equity Investors VI, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Spectrum VI Investment Managers' Fund, L.P.
No	4	S	Indirect	By Spectrum VI Co-Investment Fund, L.P.
No	4	S	Indirect	By Spectrum Equity Investors VI, L.P.
No	4	S	Indirect	By Spectrum VI Investment Managers' Fund, L.P.
No	4	S	Indirect	By Spectrum VI Co-Investment Fund, L.P.
No	4	S	Indirect	By Spectrum Equity Investors VI, L.P.

Footnotes

The price reflected is the weighted-average sale price for shares purchased. The range of sale prices for the transactions reported was $31.18 to $31.26 per share. The reporting person undertakes to provide, upon request by the SEC staff, full information regarding the number of shares purchased at each separate price.
On August 31, 2016, in connection with the liquidation of BGM Holding, L.P. ("BGM"), BGM distributed all of the Issuer's shares that it held to its limited partners, including Spectrum Equity Investors VI, L.P. ("SEI VI") and BGM Spectrum Aggregator LLC ("Aggregator"), in accordance with BGM's Amended and Restated Limited Partnership Agreement. The Aggregator then distributed the shares it received from BGM to Spectrum VI Co-Investment Fund, L.P. ("Co-Investment Fund") and Spectrum VI Investment Managers' Fund, L.P. ("IMF"). SEI VI, Co-Investment Fund and IMF received 5,844,052 shares, 2,286 shares and 14,123 shares, respectively, in the distribution. The Reporting Person did not report the distribution in reliance on the exemption from reporting provided by Rule 16a-13 under the Securities Exchange Act of 1934.
The general partner of SEI VI is Spectrum Equity Associates VI, L.P., the general partner of which is SEA VI Management, LLC ("SEA VI LLC"). The general partner of IMF and Co-Investment Fund is SEA VI LLC. The Reporting Person may be deemed to share voting and dispositive power over securities beneficiallly owned by SEA VI LLC. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
The price reflected is the weighted-average sale price for shares purchased. The range of sale prices for the transactions reported was $31.20 to $31.22 per share. The reporting person undertakes to provide, upon request by the SEC staff, full information regarding the number of shares purchased at each separate price.