Trinity TVL X, LLC - Jul 21, 2023 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role: 10%+ Owner
Signature: Trinity TVL X, LLC By /s/ Lyle McCulloch, SVP Finance
Stock symbol: TDUP
Transactions as of: Jul 21, 2023
Transactions value $: -$50,984
Form type: 4
Date filed: 7/25/2023, 05:39 PM
Previous filing: Jul 20, 2023
Next filing: Jul 31, 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	+15.6K		$0.00	15.6K	Jul 21, 2023	By Trinity Ventures X, L.P.	F1, F2, F3
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+155		$0.00	155	Jul 21, 2023	By Trinity X Entrepreneurs' Fund, L.P.	F1, F2, F3
transaction	TDUP	Class A Common Stock	Conversion of derivative security	$0	+86		$0.00	86	Jul 21, 2023	By Trinity X Side-By-Side Fund, L.P.	F1, F2, F3
transaction	TDUP	Class A Common Stock	Sale	-$50.2K	-15.6K	-100%	$3.21	0	Jul 21, 2023	By Trinity Ventures X, L.P.	F1, F3, F4
transaction	TDUP	Class A Common Stock	Sale	-$498	-155	-100%	$3.21	0	Jul 21, 2023	By Trinity X Entrepreneurs' Fund, L.P.	F1, F3, F4
transaction	TDUP	Class A Common Stock	Sale	-$276	-86	-100%	$3.21	0	Jul 21, 2023	By Trinity X Side-By-Side Fund, L.P.	F1, F3, F4
holding	TDUP	Class A Common Stock						47	Jul 21, 2023	Direct	F5
holding	TDUP	Class A Common Stock						957	Jul 21, 2023	Direct	F6
holding	TDUP	Class A Common Stock						1.03K	Jul 21, 2023	Direct	F7

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	-15.6K	-0.18%	$0.00	8.54M	Jul 21, 2023	Class A Common Stock	15.6K		By Trinity Ventures X, L.P.	F1, F2, F3, F8
transaction	TDUP	Class B Common Stock	Conversion of derivative security	$0	-155	-0.18%	$0.00	84.6K	Jul 21, 2023	Class A Common Stock	155		By Trinity X Entrepreneurs' Fund, L.P.	F1, F2, F3, F8
transaction	TDUP	Class B Common Stock	Conversion of derivative security	$0	-272	-0.57%	$0.00	47.2K	Jul 21, 2023	Class A Common Stock	272		By Trinity X Side-By-Side Fund, L.P.	F1, F2, F3, F8

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

Explanation of Responses:

Id	Content
F1	This transaction was made pursuant to a Rule 10b5-1 trading plan adopted on June 9, 2023.
F2	Each share of Class B Common Stock was converted into one share of Class A Common Stock for no additional consideration.
F3	Trinity TVL X, LLC is 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 the Management Members of Trinity TVL X, LLC share voting and dispositive power over the shares held by each of the Trinity Funds. The Management Members of Trinity TVL X, LLC are Ajay Chopra, Noel Fenton and Patricia Nakache. Each of Trinity TVL X, LLC, Mr. Chopra and Mr. Fenton disclaims beneficial ownership of the shares reported herein except to the extent of its or his respective pecuniary interest therein. Ms. Nakache is a director of the Issuer and files separate Section 16 reports.
F4	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.21 to $3.22 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 sold at each separate price within the range set forth in this footnote.
F5	Shares are directly held by TVL Management Corp ("TVL Corp"). Each of Ajay Chopra, Noel Fenton and Patricia Nakache is an executive officer and director of TVL Corp and shares voting and dispositive power over the shares held by TVL Corp. Each of Mr. Chopra and Mr. Fenton disclaims beneficial ownership of the shares reported herein except to the extent of his respective pecuniary interest therein. Ms. Nakache is a director of the Issuer and files separate Section 16 reports.
F6	Shares are directly held by Ajay Chopra.
F7	Shares are directly held by Noel J. Fenton.
F8	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.