Benchmark Capital Management Co. V, L.L.C. - Jun 14, 2021 Form 4 Insider Report for 1stdibs.com, Inc. (DIBS)

Role: 10%+ Owner
Signature: By: /s/ An-Yen Hu, by power of attorney for Benchmark Capital Management Co. V, L.L.C.
Stock symbol: DIBS
Transactions as of: Jun 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/16/2021, 05:31 PM
Previous filing: Jun 9, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DIBS	Common Stock	Conversion of derivative security		+7.22M			7.22M	Jun 14, 2021	See footnotes	F1, F2, F3, F4
transaction	DIBS	Common Stock	Conversion of derivative security		+87.2K			87.2K	Jun 14, 2021	See footnotes	F2, F3, F5, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DIBS	Series A Preferred Stock	Conversion of derivative security	$0	-7.22M	-100%	$0.00^*	0	Jun 14, 2021	Common Stock	7.22M		See footnotes	F1, F2, F3, F4
transaction	DIBS	Series B Preferred Stock	Conversion of derivative security	$0	-87.2K	-100%	$0.00^*	0	Jun 14, 2021	Common Stock	87.2K		See footnotes	F2, F3, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Issuer's Series A Preferred Stock converted into Common Stock on a 1-for-1 basis immediately prior to the closing of the Issuer's initial public offering (the "IPO").
F2	The shares are held directly by (i) Benchmark Capital Partners V, L.P. ("BCP V") for itself and as nominee for Benchmark Founders' Fund V, L.P. ("BFF V"), Benchmark Founders' Fund V-A, L.P. ("BFF V-A"), Benchmark Founders' Fund V-B, L.P. ("BFF V-B") and related individuals and (ii) Benchmark Capital Partners VII, L.P. ("BCP VII") for itself and as nominee for Benchmark Founders' Fund VII, L.P. ("BFF VII") and Benchmark Founders' Fund VII-B, L.P. ("BFF VII-B"). Benchmark Capital Management Co. V, L.L.C. ("BCMC V"), the general partner of BCP V, BFF V, BFF V-A and BFF V-B, and Benchmark Capital Management Co. VII, L.L.C. ("BCMC VII"), the general partner for BCP VII, BFF VII and BFF VII-B may be deemed to have sole voting and dispositive power over the securities.
F3	(Continued from Footnote 2) Alexandre Balkanski, Robert C. Kagle, Bruce W. Dunlevie, Peter H. Fenton, J. William Gurley, Kevin R. Harvey, Mitchell H. Lasky and Steven M. Spurlock are the managing members of BCMC V, and each of them may be deemed to share voting and dispositive power over the securities held by such entities. Matthew R. Cohler, a member of the Issuer's board of directors, Bruce W. Dunlevie, Peter H. Fenton, J. William Gurley, Kevin R. Harvey, Mitchell H. Lasky and Steven M. Spurlock are the managing members of BCMC VII, and each of them may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims the existence of a "group" and disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities.
F4	Consists of 3,610,333 shares held of record by BCP V and 3,610,333 shares held of record by BCP VII.
F5	The Issuer's Series B Preferred Stock converted into Common Stock on a 1-for-1 basis immediately prior to the closing of the Issuer's IPO.
F6	Consists of 43,583 shares held of record by BCP V and 43,583 shares held of record by BCP VII.

Remarks:

This report is one of three reports, each on a separate Form 3, but relating to the same holdings being filed by entities affiliated with Benchmark and their applicable members. The filing of this statement shall not be deemed an admission that the reporting person is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any equity securities covered by this statement.