Kenneth A. Fox - Nov 2, 2021 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role
Director
Signature
/s/ Ken Hirschman, by power of attorney
Stock symbol
UDMY
Transactions as of
Nov 2, 2021
Transactions value $
$0
Form type
4
Date filed
11/3/2021, 05:00 PM
Previous filing
Oct 28, 2021
Next filing
Jun 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Conversion of derivative security +5.78M +514.18% 6.9M Nov 2, 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 A-1 Convertible Preferred Stock Conversion of derivative security -765K -100% 0 Nov 2, 2021 Common Stock 765K See footnote F1, F3
transaction UDMY Series D Convertible Preferred Stock Conversion of derivative security -5.01M -100% 0 Nov 2, 2021 Common Stock 5.01M See footnote F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series A-1 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 held of record by Stripes III, LP, or Stripes III. Stripes GP III, LLC, or Stripes GP, the general partner of Stripes III, has sole voting and dispositive power over such shares and voting decisions with respect to such shares are made by Stripes Holdings, LLC, or Stripes Holdings, as the managing member of Stripes GP. The reporting person owns and controls Stripes Holdings but disclaims beneficial ownership of the reported securities except to the extent of 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.