David Satterwhite - Nov 15, 2022 Form 4 Insider Report for UserTesting, Inc. (USER)

Role
Chief Revenue Officer
Signature
/s/ Mona Sabet as attorney-in-fact for David A. Satterwhite
Stock symbol
USER
Transactions as of
Nov 15, 2022
Transactions value $
-$108,118
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 +40K +17.41% 270K Nov 15, 2022 Direct F1, F2
transaction USER Common Stock Sale -$108K -14.6K -5.4% $7.42 255K Nov 16, 2022 Direct 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 USER Restricted Stock Units Options Exercise $0 -40K -25% $0.00 120K Nov 15, 2022 Common Stock 40K 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 Includes 5,000 shares of Common Stock acquired under the Issuer's employee stock purchase plan on May 17, 2022 and November 14, 2022.
F3 The sale of shares is for the sole purpose of covering the Reporting Person's tax liability with respect to the settlement of RSUs.
F4 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.