Llibert Argerich - Mar 16, 2022 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role
SVP, Marketing
Signature
/s/ Sarah Tian, Attorney-in-Fact
Stock symbol
UDMY
Transactions as of
Mar 16, 2022
Transactions value $
$0
Form type
4
Date filed
3/18/2022, 03:40 PM
Previous filing
Nov 16, 2021
Next filing
May 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Options Exercise $66.9 K +21.9 K +18.92% $3.06 137 K Mar 16, 2022 Direct F1
transaction UDMY Common Stock Options Exercise $16.3 K +5.23 K +3.8% $3.12 143 K Mar 16, 2022 Direct F1

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 UDMY Employee Stock Option (right to buy) Options Exercise -$31.9 K -10.4 K -71.43% $3.06 4.17 K Mar 16, 2022 Common Stock 10.4 K $3.06 Direct F2
transaction UDMY Employee Stock Option (right to buy) Options Exercise -$35.1 K -11.5 K -61.11% $3.06 7.29 K Mar 16, 2022 Common Stock 11.5 K $3.06 Direct F3
transaction UDMY Employee Stock Option (right to buy) Options Exercise -$16.3 K -5.23 K -8.84% $3.12 53.9 K Mar 16, 2022 Common Stock 5.23 K $3.12 Direct F4

Explanation of Responses:

Id Content
F1 No shares were sold by the Reporting Person in connection with the exercise and the shares of common stock issued as a result of the exercise are subject to the terms of a lock-up agreement executed by the Reporting Person in favor of the underwriters of the Company's initial public offering in October 2021.
F2 One-fourth of the shares underlying the option vested on June 18, 2019 and 1/48th of the remaining shares vest monthly thereafter.
F3 One-fourth of the shares underlying the option vested on October 12, 2019 and 1/48th of the remaining shares vest monthly thereafter.
F4 The shares underlying this option vest in 48 equal monthly installments beginning on September 1, 2019.