Norwest Venture Partners XII, LP - 02 Nov 2021 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role
10%+ Owner
Signature
/s/ Ken Hirschman, by power of attorney for Norwest Venture Partners XII, LP
Issuer symbol
UDMY
Transactions as of
02 Nov 2021
Net transactions value
$0
Form type
4
Filing time
02 Nov 2021, 19:00:27 UTC
Previous filing
28 Oct 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Conversion of derivative security +11,552,940 +1275% 12,458,934 02 Nov 2021 See footnote F1, F2, F3

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 UDMY Series C Convertible Preferred Stock Conversion of derivative security -10,134,082 -100% 0 02 Nov 2021 Common Stock 10,134,082 See footnote F1, F3
transaction UDMY Series D Convertible Preferred Stock Conversion of derivative security -1,418,858 -100% 0 02 Nov 2021 Common Stock 1,418,858 See footnote F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Norwest Venture Partners XII, LP is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each share of Series C Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
F2 Each share of Series D Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
F3 The shares are held of record by Norwest Venture Partners XII, LP. Genesis VC Partners XII, LLC is the general partner of Norwest Venture Partners XII, LP, and NVP Associates, LLC is the managing member of Genesis VC Partners XII, LLC. Each of Promod Haque, Jeffrey Crowe, and Jon Kossow, who are co-chief executive officers of NVP Associates, LLC, may be deemed to share voting and dispositive power over the shares held by Norwest Venture Partners XII, LP. Each of the reporting entities and individuals disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.