Tien Tzuo - Sep 30, 2022 Form 4 Insider Report for ZUORA INC (ZUO)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
/s/ Sylvia Lexington as attorney-in-fact for Tien Tzuo
Stock symbol
ZUO
Transactions as of
Sep 30, 2022
Transactions value $
-$47,278
Form type
4
Date filed
10/4/2022, 07:37 PM
Previous filing
Jul 21, 2022
Next filing
Apr 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ZUO Class A Common Stock Options Exercise $0 +12.5K $0.00 12.5K Sep 30, 2022 Direct
transaction ZUO Class A Common Stock Sale -$47.3K -6.15K -49.18% $7.69 6.35K Oct 4, 2022 Direct F1

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 ZUO Restricted Stock Units (RSU)(Class A) Options Exercise $0 -12.5K -9.09% $0.00 125K Sep 30, 2022 Class A Common Stock 12.5K Direct F2, F3, F4
holding ZUO Class B Common Stock 7.11M Sep 30, 2022 Class A Common Stock 7.11M By 70 Thirty Trust F5, F6
holding ZUO Class B Common Stock 641K Sep 30, 2022 Class A Common Stock 641K By The Next Left Trust F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares sold to satisfy the Reporting Person's tax liability in connection with the issuance of Class A Common Stock resulting from the vesting of restricted stock units ("RSUs") as reported in row one of Table I.
F2 Each RSU represents a contingent right to receive one share of Zuora's Class A Common Stock upon vesting for no consideration.
F3 The RSUs vest over four years, with 1/8 of the shares underlying the initial award vesting on September 30, 2021 and the remaining shares vesting as to 1/16 of the shares underlying the initial award quarterly thereafter, so long as the Reporting Person continues to provide services to Zuora through each vesting date.
F4 RSUs do not expire; these securities either vest and settle or are canceled prior to the vesting date.
F5 Each share of Zuora's Class B Common Stock is convertible into one share of Zuora's Class A Common Stock (a) at the option of the holder and (b) automatically upon (i) any transfer, except for certain permitted transfers, and (ii) the date that is the earliest of (x) the date specified by a vote of the holders of not less than 66 2/3% of the outstanding shares of Class B Common Stock, (y) ten years from the effective date of Zuora's initial public offering and (z) the date that the total number of shares of outstanding Class B Common Stock ceases to represent at least 5% of all outstanding shares of Zuora's common stock, and has no expiration date.
F6 The Reporting Person is a trustee of the 70 Thirty Trust.
F7 The Reporting Person is a trustee of The Next Left Trust.