GREG BETTINELLI - 09 Nov 2021 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role
Director
Signature
/s/ Alon Rotem, Attorney-in-Fact
Issuer symbol
TDUP
Transactions as of
09 Nov 2021
Net transactions value
-$389,044
Form type
4
Filing time
12 Nov 2021, 15:11:07 UTC
Previous filing
11 Aug 2021
Next filing
17 Nov 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 +371,973 $0.000000 371,973 09 Nov 2021 By Upfront Growth I, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +557,960 $0.000000 557,960 09 Nov 2021 By Upfront Growth II, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +1,201,169 $0.000000 1,201,169 09 Nov 2021 By Upfront IV, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +68,898 $0.000000 68,898 09 Nov 2021 By Upfront IV Ancillary, L.P. F1, F2
transaction TDUP Class A Common Stock Other $0 -338,157 -91% $0.000000 33,816 09 Nov 2021 By Upfront Growth I, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 -507,236 -91% $0.000000 50,724 09 Nov 2021 By Upfront Growth II, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 -1,091,972 -91% $0.000000 109,197 09 Nov 2021 By Upfront IV, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 -62,635 -91% $0.000000 6,263 09 Nov 2021 By Upfront IV Ancillary, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 +30,637 $0.000000 30,637 09 Nov 2021 Direct F4
transaction TDUP Class A Common Stock Sale $370,570 -19,028 -62% $19.48 11,609 10 Nov 2021 Direct F5, F6
transaction TDUP Class A Common Stock Sale $18,474 -972 -8.4% $19.01 10,637 10 Nov 2021 Direct F5, F7

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 -371,973 -24% $0.000000 1,170,754 09 Nov 2021 Class A Common Stock 371,973 By Upfront Growth I, L.P. F1, F2
transaction TDUP Class B Common Stock Conversion of derivative security $0 -557,960 -24% $0.000000 1,756,131 09 Nov 2021 Class A Common Stock 557,960 By Upfront Growth II, L.P. F1, F2
transaction TDUP Class B Common Stock Conversion of derivative security $0 -1,201,169 -24% $0.000000 3,780,579 09 Nov 2021 Class A Common Stock 1,201,169 By Upfront IV L.P. F1, F2
transaction TDUP Class B Common Stock Conversion of derivative security $0 -68,898 -24% $0.000000 216,851 09 Nov 2021 Class A Common Stock 68,898 By Upfront IV Ancillary, L.P. F1, F2
* 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 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.
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 Represents pro rata, in-kind distributions, and not a purchase or sale, of securities without consideration, by such distributing entity to its respective partners, members and/or assigns. Such distributions were made in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.
F4 Represents (i) 3,354 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront Growth I for no consideration on November 9, 2021, (ii) 2,270 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront Growth II for no consideration on November 9, 2021, (iii) 24,889 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront IV for no consideration on November 9, 2021, and (iv) 124 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront IV Ancillary. for no consideration on November 9, 2021. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-9 and 16a-13 of the Securities Exchange Act of 1934, as amended.
F5 This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
F6 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $19.25 to $19.65 per share. 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.
F7 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $19.00 to $19.03 per share. 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.