Sarah Blanchard - 20 Feb 2025 Form 4 Insider Report for Udemy, Inc. (UDMY)

Signature
/s/ James Babikian, Attorney-in-Fact
Issuer symbol
UDMY
Transactions as of
20 Feb 2025
Net transactions value
-$103,804
Form type
4
Filing time
17 Mar 2025, 20:31:50 UTC
Previous filing
19 Feb 2025
Next filing
19 May 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UDMY Common Stock Award $0 +39,375 +4.2% $0.000000 973,016 20 Feb 2025 Direct F1
transaction UDMY Common Stock Award $0 +147,727 +15% $0.000000 1,120,743 15 Mar 2025 Direct F2
transaction UDMY Common Stock Tax liability $103,804 -12,659 -1.1% $8.20 1,108,084 15 Mar 2025 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock under a performance-based restricted stock unit ("PSU") award dated March 15, 2024. On February 20, 2025, a performance-based vesting condition was achieved with respect to the award. The PSUs remain subject to time-based vesting under which one-fourth of the total number of PSUs will vest on March 15, 2025 and then 1/16th of the total number of PSUs will vest on each quarterly anniversary thereafter, subject to the reporting person's continuous service with the issuer.
F2 Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2021 Equity Incentive Plan. 1/12th of the RSUs will vest on June 15, 2025 and on each quarterly anniversary thereafter, subject to the reporting person's continuous service with the issuer.
F3 Shares withheld by Udemy to satisfy tax withholding requirements on the vesting and settlement of restricted stock units and/or performance stock units. No shares were sold.