Llibert Argerich - Aug 6, 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
Aug 6, 2022
Transactions value $
$0
Form type
4
Date filed
8/9/2022, 08:24 PM
Previous filing
May 17, 2022
Next filing
Aug 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Award +87.5K +40.19% 305K Aug 6, 2022 Direct F1, F2

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) Disposed to Issuer -87.5K -100% 0 Aug 6, 2022 Common Stock 87.5K $11.13 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2021 Equity Incentive Plan. 43,750 of the RSUs will vest on Nov 15, 2022; 6,250 RSUs will vest each quarter between Feb 15, 2023 and Aug 15, 2024.
F2 On August 6, 2022, pursuant to the issuer's equity exchange program (announced July 11, 2022), the issuer canceled an option for 87,500 shares of the issuer's common stock granted to the reporting person on November 23, 2020. Pursuant to the equity exchange program, the reporting person received restricted stock units covering 87,500 shares of the issuer's common stock.
F3 The shares underlying this option vest in 48 equal monthly installments beginning on October 1, 2020.