Sabrina Mekhalfa - 04 Apr 2022 Form 4 Insider Report for UserTesting, Inc.

Role: Chief Accounting Officer
Signature: /s/ Mona Sabet as attorney-in-fact for Sabrina Mekhalfa
Issuer symbol: N/A
Transactions as of: 04 Apr 2022
Net transactions value: -$41,341
Form type: 4
Filing time: 17 Nov 2022, 20:49:32 UTC
Previous filing: 16 Nov 2021
Next filing: 30 Jun 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USER	Common Stock	Options Exercise		+1,653	+52%		4,858	15 Aug 2022	Direct	F1
transaction	USER	Common Stock	Sale	$3,059	-636	-13%	$4.81	4,222	16 Aug 2022	Direct	F2
transaction	USER	Common Stock	Options Exercise		+12,500	+186%		19,222	15 Nov 2022	Direct	F1, F3
transaction	USER	Common Stock	Options Exercise		+1,654	+8.6%		20,876	15 Nov 2022	Direct	F1
transaction	USER	Common Stock	Sale	$38,282	-5,156	-25%	$7.42	15,720	16 Nov 2022	Direct	F2

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	USER	Restricted Stock Units	Award	$0	+26,463		$0.000000	26,463	04 Apr 2022	Common Stock	26,463		Direct	F1, F4
transaction	USER	Restricted Stock Units	Options Exercise	$0	-1,653	-6.2%	$0.000000	24,810	15 Aug 2022	Common Stock	1,653		Direct	F1, F4
transaction	USER	Restricted Stock Units	Options Exercise	$0	-12,500	-25%	$0.000000	37,500	15 Nov 2022	Common Stock	12,500		Direct	F1, F5
transaction	USER	Restricted Stock Units	Options Exercise	$0	-1,654	-6.7%	$0.000000	23,156	15 Nov 2022	Common Stock	1,654		Direct	F1, F4

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

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one (1) share of the Issuer's Common Stock upon settlement for no consideration.
F2	The sale of shares is for the sole purpose of covering the Reporting Person's tax liability with respect to the settlement of RSUs.
F3	Includes 2,500 shares of Common Stock acquired under the Issuer's employee stock purchase plan on November 14, 2022.
F4	The RSUs shall vest quarterly over four years with the first vesting date being August 15, 2022, with the remainder of shares vesting on each subsequent November 15, February 15, May 15, and August 15, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F5	The RSUs shall vest as to 25% of the total shares on November 15, 2022, with an additional 6.25% of the total shares vesting on each subsequent February 15, May 15, August 15, and November 15 thereafter until such time as the RSUs are 100% vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.