Trinity TVL X, LLC - Nov 30, 2021 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role: 10%+ Owner
Signature: Trinity TVL X, LLC By /s/ Lyle McCulloch, SVP Finance
Stock symbol: TDUP
Transactions as of: Nov 30, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/2/2021, 03:31 PM
Previous filing: Aug 2, 2021
Next filing: Mar 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+475K		$0.00	475K	Nov 30, 2021	By Trinity Ventures X, L.P.	F1, F2
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+4.71K		$0.00	4.71K	Nov 30, 2021	By Trinity X Entrepreneurs' Fund, L.P.	F1, F2
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+2.63K		$0.00	2.63K	Nov 30, 2021	By Trinity X Side-By-Side Fund, L.P.	F1, F2
transaction	TDUP	Class A Common Stock	Other	$0	-475K	-100%	$0.00^*	0	Nov 30, 2021	By Trinity Ventures X, L.P.	F2, F3
transaction	TDUP	Class A Common Stock	Other	$0	-4.71K	-100%	$0.00^*	0	Nov 30, 2021	By Trinity X Entrepreneurs' Fund, L.P.	F2, F4
transaction	TDUP	Class A Common Stock	Other	$0	-2.63K	-100%	$0.00^*	0	Nov 30, 2021	By Trinity X Side-By-Side Fund, L.P.	F2, F5
transaction	TDUP	Class A Common Stock	Other	$0	+4.75K		$0.00	4.75K	Nov 30, 2021	By Trinity TVL X, LLC	F2, F6
transaction	TDUP	Class A Common Stock	Other	$0	-4.75K	-100%	$0.00^*	0	Nov 30, 2021	By Trinity TVL X, LLC	F2, F7

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	TDUP	Class B Common Stock	Conversion of derivative security	$0	-475K	-5%	$0.00	9.03M	Nov 30, 2021	Class A Common Stock	475K		By Trinity Ventures X, L.P.	F1, F2, F8
transaction	TDUP	Class B Common Stock	Conversion of derivative security	$0	-4.71K	-5%	$0.00	89.4K	Nov 30, 2021	Class A Common Stock	4.71K		By Trinity X Entrepreneurs' Fund, L.P.	F1, F2, F8
transaction	TDUP	Class B Common Stock	Conversion of derivative security	$0	-2.63K	-5%	$0.00	49.9K	Nov 30, 2021	Class A Common Stock	2.63K		By Trinity X Side-By-Side Fund, L.P.	F1, F2, F8

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

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock was converted into one share of Class A Common Stock for no additional consideration.
F2	Trinity TVL X, LLC is the General Partner of Trinity Ventures X, L.P., Trinity X Entrepreneurs Fund, L.P. and Trinity X Side-By-Side Fund, L.P. (collectively, the Trinity Entities), and the Management Members of Trinity TVL X, LLC share voting and dispositive power over the shares held by each of the Trinity Entities. The Management Members of Trinity TVL X, LLC are Ajay Chopra, Noel Fenton, Patricia Nakache and Larry Orr. Each of Trinity TVL X, LLC, Mr. Chopra, Mr. Fenton, Ms. Labatt and Mr. Orr disclaims beneficial ownership of the shares reported herein except to the extent of his, her or its respective pecuniary interest therein. Ms. Nakache is a director of the Issuer and files separate Section 16 reports.
F3	Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Trinity Ventures X, L.P. to its general partner and limited partners without additional consideration.
F4	Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Trinity X Entrepreneurs' Fund, L.P. to its limited partners without additional consideration.
F5	Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Trinity X Side-By-Side Fund, L.P. to its limited partners without additional consideration.
F6	Represents receipt of shares in the distribution in kind described in footnote (3).
F7	Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Trinity TVL X, LLC to its members without consideration.
F8	Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and upon the occurrence of other events set forth in the Issuer's Certificate of Incorporation.