<SEC-DOCUMENT>0001493152-20-019392.txt : 20201013
<SEC-HEADER>0001493152-20-019392.hdr.sgml : 20201013
<ACCEPTANCE-DATETIME>20201013203255
ACCESSION NUMBER:		0001493152-20-019392
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201008
FILED AS OF DATE:		20201013
DATE AS OF CHANGE:		20201013

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Spruce House Partnership LLC
		CENTRAL INDEX KEY:			0001797827
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237820

	BUSINESS ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-661-1774

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SPRUCE HOUSE PARTNERSHIP (AI) LP
		CENTRAL INDEX KEY:			0001389653
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237821

	BUSINESS ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-442-6724

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

	FORMER NAME:	
		FORMER CONFORMED NAME:	SPRUCE HOUSE PARTNERSHIP LP
		DATE OF NAME CHANGE:	20110203

	FORMER NAME:	
		FORMER CONFORMED NAME:	SPRUCE HOUSE PARTNERS LP
		DATE OF NAME CHANGE:	20101227

	FORMER NAME:	
		FORMER CONFORMED NAME:	SPRUCE HOUSE PARTNERSHIP LP
		DATE OF NAME CHANGE:	20101115

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Spruce House Partnership (QP) LP
		CENTRAL INDEX KEY:			0001797552
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237822

	BUSINESS ADDRESS:	
		STREET 1:		435 HUDSON ST #804
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-661-1774

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON ST #804
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Spruce House Capital LLC
		CENTRAL INDEX KEY:			0001472167
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237823

	BUSINESS ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		SUITE 804
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-442-6727

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		SUITE 804
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sternberg Zachary
		CENTRAL INDEX KEY:			0001679333

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237824

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		SUITE 804
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

	FORMER NAME:	
		FORMER CONFORMED NAME:	Sternberg Zach
		DATE OF NAME CHANGE:	20160711

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Stein Benjamin Forester
		CENTRAL INDEX KEY:			0001679335

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237825

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		SUITE 804
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

	FORMER NAME:	
		FORMER CONFORMED NAME:	Stein Ben Forester
		DATE OF NAME CHANGE:	20160711

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SPRUCE HOUSE INVESTMENT MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001543170
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36666
		FILM NUMBER:		201237826

	BUSINESS ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-442-6727

	MAIL ADDRESS:	
		STREET 1:		435 HUDSON STREET
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Wayfair Inc.
		CENTRAL INDEX KEY:			0001616707
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		IRS NUMBER:				364791999
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4 COPLEY PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617 532 6100

	MAIL ADDRESS:	
		STREET 1:		4 COPLEY PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-10-08</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001616707</issuerCik>
        <issuerName>Wayfair Inc.</issuerName>
        <issuerTradingSymbol>W</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001797827</rptOwnerCik>
            <rptOwnerName>Spruce House Partnership LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SPRUCE HOUSE CAPITAL LLC</rptOwnerStreet1>
            <rptOwnerStreet2>435 HUDSON STREET, 8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001389653</rptOwnerCik>
            <rptOwnerName>SPRUCE HOUSE PARTNERSHIP (AI) LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SPRUCE HOUSE CAPITAL LLC</rptOwnerStreet1>
            <rptOwnerStreet2>435 HUDSON STREET, 8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001797552</rptOwnerCik>
            <rptOwnerName>Spruce House Partnership (QP) LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SPRUCE HOUSE CAPITAL LLC</rptOwnerStreet1>
            <rptOwnerStreet2>435 HUDSON STREET, 8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001472167</rptOwnerCik>
            <rptOwnerName>Spruce House Capital LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>435 HUDSON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001679333</rptOwnerCik>
            <rptOwnerName>Sternberg Zachary</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>SPRUCE HOUSE INVESTMENT MANAGEMENT LLC</rptOwnerStreet1>
            <rptOwnerStreet2>435 HUDSON STREET, 8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001679335</rptOwnerCik>
            <rptOwnerName>Stein Benjamin Forester</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>SPRUCE HOUSE INVESTMENT MANAGEMENT LLC</rptOwnerStreet1>
            <rptOwnerStreet2>435 HUDSON STREET, 8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001543170</rptOwnerCik>
            <rptOwnerName>SPRUCE HOUSE INVESTMENT MANAGEMENT LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>435 HUDSON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10014</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2020-10-08</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>93197</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>305.9977</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7156803</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2020-10-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>179610</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>301.8972</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6977193</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2020-10-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>296.6405</value>
                    <footnoteId id="F5"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6927193</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2020-10-12</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>293493</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>297.0210</value>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6633700</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2020-10-13</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>250000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>307.6444</value>
                    <footnoteId id="F7"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6383700</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reported securities are held in the account of The Spruce House Partnership LLC (the &quot;Aggregator&quot;), its sole members being The Spruce House Partnership (AI) LP (f/k/a The Spruce House Partnership LP) and The Spruce House Partnership (QP) LP (collectively, the &quot;Funds)&quot;, each a private investment fund managed by Spruce House Investment Management LLC (the &quot;Investment Manager&quot;).</footnote>
        <footnote id="F2">The reported securities may be deemed to be beneficially owned by the Investment Manager, the general partner of the Funds, Spruce House Capital LLC (the &quot;General Partner&quot;), and by Zachary Sternberg and Benjamin Stein, managing members of the Investment Manager and the General Partner (the &quot;Managing Members&quot;). Each of the Funds, the Investment Manager, the General Partner and the Managing Members disclaim beneficial ownership of the reported securities held by the Aggregator, except to the extent of his or its pecuniary interest therein. The Aggregator, the Funds, the Investment Manager, the General Partner and the Managing Members (collectively, the &quot;Reporting Persons&quot;) affirmatively disclaim being a &quot;group&quot; for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</footnote>
        <footnote id="F3">This transaction was executed in multiple trades at prices ranging from $303.9475 to $311.4050. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.</footnote>
        <footnote id="F4">This transaction was executed in multiple trades at prices ranging from $292.0000 to $308.2550. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.</footnote>
        <footnote id="F5">This transaction was executed in multiple trades at prices ranging from $293.1250 to $299.0900. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.</footnote>
        <footnote id="F6">This transaction was executed in multiple trades at prices ranging from $293.9900 to $301.2050. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.</footnote>
        <footnote id="F7">This transaction was executed in multiple trades at prices ranging from $304.0000 to $310.6550. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>The Spruce House Partnership LLC By: /s/ Thomas Walker, Authorized Person</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>The Spruce House Partnership (AI) LP By: /s/ Thomas Walker, Authorized Person</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>The Spruce House Partnership (QP) LP By: /s/ Thomas Walker, Authorized Person</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Spruce House Capital LLC By: /s/ Thomas Walker, Authorized Person</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Zachary Sternberg By: /s/ Thomas Walker, (Attorney-in fact)</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Benjamin Stein By: /s/ Thomas Walker, (Attorney-in fact)</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Spruce House Investment Management LLC By: /s/ Thomas Walker, Authorized Person</signatureName>
        <signatureDate>2020-10-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
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</SEC-DOCUMENT>
