StepStone Group LP - Nov 10, 2022 Form 4 Insider Report for UserTesting, Inc. (USER)

Role: 10%+ Owner
Signature: /s/ Jennifer Y. Ishiguro - for StepStone Group LP, By: StepStone Group Holdings LLC, its General Partner, By: Jennifer Y. Ishiguro, Chief Legal Officer & Secretary
Stock symbol: USER
Transactions as of: Nov 10, 2022
Transactions value $: $0
Form type: 4
Date filed: 11/15/2022, 03:06 PM
Previous filing: Aug 10, 2022
Next filing: Jan 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USER	Common Stock, $0.0001 par value per share	Other		-3.22M	-100%		0	Nov 10, 2022	See footnotes	F1, F8
holding	USER	Common Stock, $0.0001 par value per share						1.03M	Nov 10, 2022	See footnotes	F2, F8
holding	USER	Common Stock, $0.0001 par value per share						2.86M	Nov 10, 2022	See footnotes	F3, F8
holding	USER	Common Stock, $0.0001 par value per share						276K	Nov 10, 2022	See footnotes	F4, F8
holding	USER	Common Stock, $0.0001 par value per share						4.68M	Nov 10, 2022	See footnotes	F5, F8
holding	USER	Common Stock, $0.0001 par value per share						5.2M	Nov 10, 2022	See footnotes	F6, F8
holding	USER	Common Stock, $0.0001 par value per share						8.63M	Nov 10, 2022	See footnotes	F7, F8

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

Explanation of Responses:

Id	Content
F1	On November 10, 2022, StepStone VC SPV UT, L.P. ("SPV UT") distributed 3,219,090 shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock") in a pro rata distribution to its limited partners (the "Distribution"). SPV UT is managed by StepStone Group LP. The shares held by SPV UT were inadvertently omitted from the Form 3 filed by the Reporting Persons on June 23, 2022 with respect to the Issuer's securities.
F2	Shares received in the Distribution held directly StepStone IL Special II, L.P. StepStone VC IL GP II, LLC is the general partner of StepStone IL Special II, L.P.
F3	Held directly by StepStone VC Global Partners VII-A, L.P. StepStone VC General Partner VII, L.P. is the general partner of StepStone VC Global Partners VII-A, L.P.
F4	Held directly by StepStone VC Global Partners VII-C, L.P. StepStone VC General Partner VII, L.P. is the general partner of StepStone VC Global Partners VII-C, L.P.
F5	Held directly by StepStone VC Opportunities III, L.P. StepStone VC Opportunities General Partner III, L.P. is the general partner of StepStone VC Opportunities III, L.P.
F6	Held directly by StepStone VC Secondaries Fund III, L.P. StepStone VC Secondaries General Partner III, L.P. is the general partner of StepStone VC Secondaries Fund III, L.P.
F7	Held directly by StepStone VC Secondaries Fund IV, L.P. StepStone VC Secondaries General Partner IV, L.P. is the general partner of StepStone VC Secondaries Fund IV, L.P.
F8	StepStone Group LP is the investment manager of StepStone IL Special II, L.P., StepStone VC Global Partners VII-A, L.P., StepStone VC Global Partners VII-C, L.P., StepStone VC Opportunities III, L.P., StepStone VC Secondaries Fund III, L.P., and StepStone VC Secondaries Fund IV, L.P. StepStone Group Holdings LLC is the general partner of Stepstone Group LP, and StepStone Group Inc. is the sole managing member of StepStone Group Holdings LLC. The filing of this Form 4 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owners of any of the securities reported herein. The Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest.