Tien Tzuo - Apr 25, 2023 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
Apr 25, 2023
Transactions value $
$0
Form type
4
Date filed
4/28/2023, 07:30 PM
Previous filing
Apr 4, 2023
Next filing
Jul 5, 2023

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) Award $0 +700K $0.00 700K Apr 25, 2023 Class A Common Stock 700K Direct F1, F2, F3
holding ZUO Class B Common Stock 7.12M Apr 25, 2023 Class A Common Stock 7.12M By 70 Thirty Trust F4, F5
holding ZUO Class B Common Stock 641K Apr 25, 2023 Class A Common Stock 641K By The Next Left Trust F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Zuora's Class A Common Stock upon vesting for no consideration.
F2 The RSUs vest over three years, with 1/6 of the shares underlying the initial award vesting on September 30, 2023, and the remaining shares vesting as to 1/12 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.
F3 RSUs do not expire; these securities either vest and settle or are canceled prior to the vesting date.
F4 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.
F5 The Reporting Person is a trustee of the 70 Thirty Trust.
F6 The Reporting Person is a trustee of The Next Left Trust.