Gregory Scott Brown - Jun 14, 2023 Form 4 Insider Report for Udemy, Inc. (UDMY)

Signature
/s/ Sarah Tian, Attorney-in-Fact
Stock symbol
UDMY
Transactions as of
Jun 14, 2023
Transactions value $
-$189,064
Form type
4
Date filed
6/16/2023, 06:32 PM
Previous filing
May 30, 2023
Next filing
Aug 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Sale -$107K -10K -0.86% $10.74 1.15M Jun 14, 2023 Direct F1, F2
transaction UDMY Common Stock Sale -$81.7K -7.67K -0.67% $10.65 1.14M Jun 15, 2023 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The reported transaction was effected to satisfy certain tax obligations of the Reporting Person incurred with the vesting and settlement of Restricted Stock Units ("RSUs") and was executed pursuant to a Rule 10b5-1 plan entered into by the Reporting Person.
F2 These transactions were executed in multiple trades at prices ranging from $10.50 to $11.05. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F3 The reported transaction was effected to satisfy certain tax obligations of the Reporting Person incurred with the vesting and settlement of Restricted Stock Units ("RSUs").