Patricia Nakache - Aug 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
Aug 9, 2023
Transactions value $
-$775,984
Form type
4
Date filed
8/11/2023, 04:55 PM
Previous filing
Aug 4, 2023
Next filing
Oct 19, 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 +197K $0.00 197K Aug 9, 2023 By Trinity Ventures X, L.P. F1, F2, F3
transaction TDUP Class A Common Stock Conversion of derivative security $0 +1.95K $0.00 1.95K Aug 9, 2023 By Trinity X Entrepreneurs' Fund, L.P. F1, F2, F3
transaction TDUP Class A Common Stock Conversion of derivative security $0 +1.09K $0.00 1.09K Aug 9, 2023 By Trinity X Side-By-Side Fund, L.P. F1, F2, F3
transaction TDUP Class A Common Stock Sale -$764K -197K -100% $3.88 0 Aug 9, 2023 By Trinity Ventures X, L.P. F1, F3, F4
transaction TDUP Class A Common Stock Sale -$7.56K -1.95K -100% $3.88 0 Aug 9, 2023 By Trinity X Entrepreneurs' Fund, L.P. F1, F3, F4
transaction TDUP Class A Common Stock Sale -$4.22K -1.09K -100% $3.88 0 Aug 9, 2023 By Trinity X Side-By-Side Fund, L.P. F1, F3, F4
holding TDUP Class A Common Stock 47 Aug 9, 2023 Direct F5
holding TDUP Class A Common Stock 139K Aug 9, 2023 Direct

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 -197K -2.32% $0.00 8.3M Aug 9, 2023 Class A Common Stock 197K By Trinity Ventures X, L.P. F1, F2, F3, F6
transaction TDUP Class B Common Stock Conversion of derivative security $0 -1.95K -2.32% $0.00 82.1K Aug 9, 2023 Class A Common Stock 1.95K By Trinity X Entrepreneurs' Fund, L.P. F1, F2, F3, F6
transaction TDUP Class B Common Stock Conversion of derivative security $0 -1.09K -2.32% $0.00 45.9K Aug 9, 2023 Class A Common Stock 1.09K By Trinity X Side-By-Side Fund, L.P. F1, F2, F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 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.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.74 to $4.02 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 The Reporting Person is an executive officer and director of TVL Management Corp and shares voting and dispositive power over the shares held by TVL Management Corp. The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of her pecuniary interest therein.
F6 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.