Greg Bettinelli - Nov 15, 2021 Form 4 Insider Report for ThredUp Inc. (TDUP)

Role
Director
Signature
/s/ Alon Rotem, Attorney-in-Fact
Stock symbol
TDUP
Transactions as of
Nov 15, 2021
Transactions value $
$0
Form type
4
Date filed
11/17/2021, 03:24 PM
Previous filing
Nov 12, 2021
Next filing
Nov 23, 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 +558K +1649.99% $0.00 592K Nov 15, 2021 By Upfront Growth I, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +837K +1649.99% $0.00 888K Nov 15, 2021 By Upfront Growth II, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +1.8M +1650% $0.00 1.91M Nov 15, 2021 By Upfront IV, L.P. F1, F2
transaction TDUP Class A Common Stock Conversion of derivative security $0 +103K +1650.14% $0.00 110K Nov 15, 2021 By Upfront IV Ancillary, L.P. F1, F2
transaction TDUP Class A Common Stock Other $0 -592K -100% $0.00* 0 Nov 15, 2021 By Upfront Growth I, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 -888K -100% $0.00* 0 Nov 15, 2021 By Upfront Growth II, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 -1.91M -100% $0.00* 0 Nov 15, 2021 By Upfront IV, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 -110K -100% $0.00* 0 Nov 15, 2021 By Upfront IV Ancillary, L.P. F2, F3
transaction TDUP Class A Common Stock Other $0 +54.3K +510.51% $0.00 64.9K Nov 15, 2021 Direct F4

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 -558K -47.66% $0.00 613K Nov 15, 2021 Class A Common Stock 558K By Upfront Growth I, L.P. F1, F2
transaction TDUP Class B Common Stock Conversion of derivative security $0 -837K -47.66% $0.00 919K Nov 15, 2021 Class A Common Stock 837K By Upfront Growth II, L.P. F1, F2
transaction TDUP Class B Common Stock Conversion of derivative security $0 -1.8M -47.66% $0.00 1.98M Nov 15, 2021 Class A Common Stock 1.8M By Upfront IV L.P. F1, F2
transaction TDUP Class B Common Stock Conversion of derivative security $0 -103K -47.66% $0.00 114K Nov 15, 2021 Class A Common Stock 103K 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) 8,978 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront Growth GP I, LLC for no consideration on November 15, 2021, (ii) 3,973 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront Growth GP II, LLC for no consideration on November 15, 2021, (iii) 41,133 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront IV GP, L.P. for no consideration on November 15, 2021, and (iv) 219 shares of Class A Common Stock acquired by the Reporting Person in a distribution by Upfront IV Ancillary GP, LLC for no consideration on November 15, 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.