Patricia Nakache - 09 Mar 2023 Form 4 Insider Report for ThredUp Inc. (TDUP)

Signature
/s/ Patricia E. Nakache
Issuer symbol
TDUP
Transactions as of
09 Mar 2023
Net transactions value
-$722,109
Form type
4
Filing time
13 Mar 2023, 16:32:10 UTC
Previous filing
17 Feb 2023
Next filing
05 May 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 +293,859 $0.000000 293,859 09 Mar 2023 By Trinity Ventures X, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +2,909 $0.000000 2,909 09 Mar 2023 By Trinity X Entrepreneurs' Fund, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +1,624 $0.000000 1,624 09 Mar 2023 By Trinity X Side-By-Side Fund, L.P. F1, F2
transaction TDUP Class A Common Stock Sale $711,139 -293,859 -100% $2.42 0 09 Mar 2023 By Trinity Ventures X, L.P. F2, F3
transaction TDUP Class A Common Stock Sale $7,040 -2,909 -100% $2.42 0 09 Mar 2023 By Trinity X Entrepreneurs' Fund, L.P. F2, F3
transaction TDUP Class A Common Stock Sale $3,930 -1,624 -100% $2.42 0 09 Mar 2023 By Trinity X Side-By-Side Fund, L.P. F2, F3
holding TDUP Class A Common Stock 47 09 Mar 2023 By TVL Management Corp
holding TDUP Class A Common Stock 69,945 09 Mar 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 -293,859 -3.3% $0.000000 8,738,565 09 Mar 2023 Class A Common Stock 293,859 By Trinity Ventures X, L.P. F1, F2, F5
transaction TDUP Class B Common Stock Conversion of derivative security $0 -2,909 -3.3% $0.000000 86,515 09 Mar 2023 Class A Common Stock 2,909 By Trinity X Entrepreneurs' Fund, L.P. F1, F2, F5
transaction TDUP Class B Common Stock Conversion of derivative security $0 -1,624 -3.3% $0.000000 48,294 09 Mar 2023 Class A Common Stock 1,624 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.