Patricia Nakache - 18 Jul 2024 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role
Director
Signature
/s/ Patricia E. Nakache
Issuer symbol
TDUP
Transactions as of
18 Jul 2024
Net transactions value
-$130,263
Form type
4
Filing time
22 Jul 2024, 17:03:56 UTC
Previous filing
17 Jul 2024
Next filing
25 Jul 2024
SEC
View on sec.gov

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 +62,577 $0.000000 62,577 18 Jul 2024 By Trinity Ventures X, L.P. F1, F2, F3
transaction TDUP Class A Common Stock Conversion of derivative security $0 +620 $0.000000 620 18 Jul 2024 By Trinity X Entrepreneurs' Fund, L.P. F1, F2, F3
transaction TDUP Class A Common Stock Conversion of derivative security $0 +346 $0.000000 346 18 Jul 2024 By Trinity X Side-By-Side Fund, L.P. F1, F2, F3
transaction TDUP Class A Common Stock Sale $128,283 -62,577 -100% $2.05 0 18 Jul 2024 By Trinity Ventures X, L.P. F1, F3, F4
transaction TDUP Class A Common Stock Sale $1,271 -620 -100% $2.05 0 18 Jul 2024 By Trinity X Entrepreneurs' Fund, L.P. F1, F3, F4
transaction TDUP Class A Common Stock Sale $709 -346 -100% $2.05 0 18 Jul 2024 By Trinity X Side-By-Side Fund, L.P. F1, F3, F4
holding TDUP Class A Common Stock 47 18 Jul 2024 By TVL Management Corp. F5
holding TDUP Class A Common Stock 240,438 18 Jul 2024 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 -62,577 -0.89% $0.000000 6,940,697 18 Jul 2024 Class A Common Stock 62,577 By Trinity Ventures X, L.P. F1, F2, F3, F6
transaction TDUP Class B Common Stock Conversion of derivative security $0 -620 -0.89% $0.000000 68,718 18 Jul 2024 Class A Common Stock 620 By Trinity X Entrepreneurs' Fund, L.P. F1, F2, F3, F6
transaction TDUP Class B Common Stock Conversion of derivative security $0 -346 -0.89% $0.000000 38,358 18 Jul 2024 Class A Common Stock 346 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 March 15, 2024. The Reporting Person did not participate in the consideration or the adoption of the Rule 10b5-1 Plan.
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 $2.05 to $2.08 inclusive. The Reporting Person undertakes 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.