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

Role
Director
Signature
/s/ Alon Rotem, Attorney-in-Fact
Stock symbol
TDUP
Transactions as of
Aug 2, 2021
Transactions value $
-$23,478,669
Form type
4
Date filed
8/2/2021, 07:25 PM
Previous filing
May 18, 2021
Next filing
Aug 11, 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 +171K $0.00 171K Aug 2, 2021 By Upfront Growth I, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +257K $0.00 257K Aug 2, 2021 By Upfront Growth II, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +554K $0.00 554K Aug 2, 2021 By Upfront IV, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +31.8K $0.00 31.8K Aug 2, 2021 By Upfront IV Ancillary, L.P. F1, F2
transaction TDUP Class A Common Stock Sale -$3.97M -171K -100% $23.16* 0 Aug 2, 2021 By Upfront Growth I, L.P. F2, F3
transaction TDUP Class A Common Stock Sale -$5.95M -257K -100% $23.16* 0 Aug 2, 2021 By Upfront Growth II, L.P. F2, F3
transaction TDUP Class A Common Stock Sale -$12.8M -554K -100% $23.16* 0 Aug 2, 2021 By Upfront IV, L.P. F2, F3
transaction TDUP Class A Common Stock Sale -$735K -31.8K -100% $23.16* 0 Aug 2, 2021 By Upfront IV Ancillary, 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 -171K -10% $0.00 1.54M Aug 2, 2021 Class A Common Stock 171K By Upfront Growth I, L.P. F1, F2, F4
transaction TDUP Class B Common Stock Conversion of derivative security $0 -257K -10% $0.00 2.31M Aug 2, 2021 Class A Common Stock 257K By Upfront Growth II, L.P. F1, F2, F4
transaction TDUP Class B Common Stock Conversion of derivative security $0 -554K -10% $0.00 4.98M Aug 2, 2021 Class A Common Stock 554K By Upfront IV L.P. F1, F2, F4
transaction TDUP Class B Common Stock Conversion of derivative security $0 -31.8K -10% $0.00 286K Aug 2, 2021 Class A Common Stock 31.8K By Upfront IV Ancillary, 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 Upfront Growth GP I, LLC is the general partner of Upfront Growth I, L.P. ("Upfront Growth I"). Upfront Growth GP II, LLC is the general partner of Upfront Growth II, L.P. ("Upfront Growth II"). Upfront GP IV, L.P. is the general partner of Upfront IV, L.P. ("Upfront IV"). Upfront IV Ancillary GP, LLC is the general partner of Upfront IV Ancillary, L.P. ("Upfront IV Ancillary," and together with Upfront Growth I, Upfront Growth II and Upfront IV, the "Upfront Entities"). The Upfront Entities are managed by Upfront Ventures Management, LLC which is controlled by Mark Suster and Yves Sisteron. The Reporting Person is a member or limited partner, as applicable, of the general partners of the respective Upfront Entities. The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of his 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, Upfront Growth I sold 171,414 shares of Class A Common Stock, Upfront Growth II sold 257,121 shares of Class A Common Stock, Upfront IV sold 553,526 shares of Class A Common Stock and Upfront IV Ancillary sold 31,751 shares of Class A Common Stock, each at a price per share of $23.1588 (after underwriting discounts and commissions). The Upfront 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.