Patricia Nakache - Mar 9, 2023 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role: Director, 10%+ Owner
Signature: /s/ Patricia E. Nakache
Stock symbol: TDUP
Transactions as of: Mar 9, 2023
Transactions value $: -$722,109
Form type: 4
Date filed: 3/13/2023, 04:32 PM
Previous filing: Feb 17, 2023
Next filing: May 5, 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	+294K		$0.00	294K	Mar 9, 2023	By Trinity Ventures X, L.P.	F1, F2
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+2.91K		$0.00	2.91K	Mar 9, 2023	By Trinity X Entrepreneurs' Fund, L.P.	F1, F2
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+1.62K		$0.00	1.62K	Mar 9, 2023	By Trinity X Side-By-Side Fund, L.P.	F1, F2
transaction	TDUP	Class A Common Stock	Sale	-$711K	-294K	-100%	$2.42	0	Mar 9, 2023	By Trinity Ventures X, L.P.	F2, F3
transaction	TDUP	Class A Common Stock	Sale	-$7.04K	-2.91K	-100%	$2.42	0	Mar 9, 2023	By Trinity X Entrepreneurs' Fund, L.P.	F2, F3
transaction	TDUP	Class A Common Stock	Sale	-$3.93K	-1.62K	-100%	$2.42	0	Mar 9, 2023	By Trinity X Side-By-Side Fund, L.P.	F2, F3
holding	TDUP	Class A Common Stock						47	Mar 9, 2023	By TVL Management Corp
holding	TDUP	Class A Common Stock						69.9K	Mar 9, 2023	Direct	F4

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	-294K	-3.25%	$0.00	8.74M	Mar 9, 2023	Class A Common Stock	294K		By Trinity Ventures X, L.P.	F1, F2, F5
transaction	TDUP	Class B Common Stock	Conversion of derivative security	$0	-2.91K	-3.25%	$0.00	86.5K	Mar 9, 2023	Class A Common Stock	2.91K		By Trinity X Entrepreneurs' Fund, L.P.	F1, F2, F5
transaction	TDUP	Class B Common Stock	Conversion of derivative security	$0	-1.62K	-3.25%	$0.00	48.3K	Mar 9, 2023	Class A Common Stock	1.62K		By Trinity X Side-By-Side Fund, L.P.	F1, F2, F5

* 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	The Reporting Person is a Management Member of Trinity TVL X, LLC, 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 Funds"), and shares voting and dispositive power with the other Management Members over the shares held by each of the Trinity Funds. The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of her pecuniary interest therein.
F3	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.40 to $2.51 inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F4	The shares held by the Reporting Person reported herein reflect the receipt of shares in a distribution in kind that constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.
F5	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.