Sarah Blanchard - Aug 6, 2022 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role
Chief Financial Officer
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, 08:28 PM
Previous filing
May 24, 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 +1M +335.37% 1.3M 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 -1M -100% 0 Aug 6, 2022 Common Stock 1M $11.77 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. 458,333 of the RSUs will vest on Nov 15, 2022; 62,500 RSUs will vest each quarter in 2023 and 72,917 will vest each quarter in 2024.
F2 On August 6, 2022, pursuant to the issuer's equity exchange program (announced July 11, 2022), the issuer canceled an option for 1,000,000 shares of the issuer's common stock granted to the reporting person on February 24, 2021. Pursuant to the equity exchange program, the reporting person received restricted stock units covering 1,000,000 shares of the issuer's common stock.
F3 One-fourth of the shares underlying the option vest on February 8, 2022 and 1/48th of the remaining shares vest monthly thereafter.