Llibert Argerich - 06 Aug 2022 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role: SVP, Marketing
Signature: /s/ Sarah Tian, Attorney-in-Fact
Issuer symbol: UDMY
Transactions as of: 06 Aug 2022
Net transactions value: $0
Form type: 4
Filing time: 09 Aug 2022, 20:24:05 UTC
Previous filing: 17 May 2022
Next filing: 18 Aug 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UDMY	Common Stock	Award		+87,500	+40%		305,199	06 Aug 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		-87,500	-100%		0	06 Aug 2022	Common Stock	87,500	$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.