Kaj van de Loo - Nov 15, 2022 Form 4 Insider Report for UserTesting, Inc. (USER)

Role: Chief Technology Officer
Signature: s/ Mona Sabet as attorney-in-fact for Kaj van de Loo
Stock symbol: USER
Transactions as of: Nov 15, 2022
Transactions value $: -$101,362
Form type: 4
Date filed: 11/17/2022, 08:55 PM
Previous filing: Nov 16, 2021
Next filing: Jan 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USER	Common Stock	Options Exercise		+37.5K	+14.64%		294K	Nov 15, 2022	Direct	F1
transaction	USER	Common Stock	Sale	-$101K	-13.7K	-4.65%	$7.42	280K	Nov 16, 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	Options Exercise	$0	-37.5K	-25%	$0.00	113K	Nov 15, 2022	Common Stock	37.5K		Direct	F1, F3

* 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	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.