Patricia Nakache - Aug 2, 2021 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role
Director, 10%+ Owner
Signature
/s/ Alon Rotem, Attorney-in-Fact
Stock symbol
TDUP
Transactions as of
Aug 2, 2021
Transactions value $
-$24,842,908
Form type
4
Date filed
8/2/2021, 07:09 PM
Next filing
Aug 5, 2021

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 +1.06M $0.00 1.06M Aug 2, 2021 By Trinity Ventures X, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +10.5K $0.00 10.5K Aug 2, 2021 By Trinity X Entrepreneurs' Fund, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +5.84K $0.00 5.84K Aug 2, 2021 By Trinity X Side-By-Side Fund, L.P. F1, F2
transaction TDUP Class A Common Stock Sale -$24.5M -1.06M -100% $23.16* 0 Aug 2, 2021 By Trinity Ventures X, L.P. F2, F3
transaction TDUP Class A Common Stock Sale -$242K -10.5K -100% $23.16* 0 Aug 2, 2021 By Trinity X Entrepreneurs' Fund, L.P. F2, F3
transaction TDUP Class A Common Stock Sale -$135K -5.84K -100% $23.16* 0 Aug 2, 2021 By Trinity X Side-By-Side Fund, L.P. F2, F3

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 -1.06M -10% $0.00 9.51M Aug 2, 2021 Class A Common Stock 1.06M By Trinity Ventures X, L.P. F1, F2, F4
transaction TDUP Class B Common Stock Conversion of derivative security $0 -10.5K -10% $0.00 94.1K Aug 2, 2021 Class A Common Stock 10.5K By Trinity X Entrepreneurs' Fund, L.P. F1, F2, F4
transaction TDUP Class B Common Stock Conversion of derivative security $0 -5.84K -10% $0.00 52.5K Aug 2, 2021 Class A Common Stock 5.84K By Trinity X Side-By-Side Fund, L.P. F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock was converted into one share of Class A Common Stock at the option of the holder in connection with the registered public offering of shares of the Issuer's Class A Common Stock, pursuant to a final prospectus dated July 28, 2021, which offering was consummated on August 2, 2021.
F2 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 Entities"), and shares voting and dispositive power with the other Management Members over the shares held by each of the Trinity Entities. The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of her pecuniary interest therein.
F3 Pursuant to an underwriting agreement and in connection with the registered public offering of shares of the Issuer's Class A Common Stock, pursuant to a final prospectus dated July 28, 2021, which offering was consummated on August 2, 2021, Trinity Ventures X, L.P. sold 1,056,423 shares of Class A Common Stock, Trinity X Entrepreneurs' Fund, L.P. sold 10,459 shares of Class A Common Stock and Trinity X Side-By-Side Fund, L.P. sold 5,838 shares of Class A Common Stock, each at a price per share of $23.1588 (after underwriting discounts and commissions). The Trinity Entities were selling stockholders in the registered public offering.
F4 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.