Gregory Scott Brown - 20 Feb 2025 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role: Director
Signature: /s/ James Babikian, Attorney-in-Fact
Issuer symbol: UDMY
Transactions as of: 20 Feb 2025
Net transactions value: -$261,367
Form type: 4
Filing time: 17 Mar 2025, 20:36:21 UTC
Previous filing: 19 Feb 2025
Next filing: 07 Mar 2025
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	$0	+93,213	+8.2%	$0.000000	1,235,109	20 Feb 2025	Direct	F1
transaction	UDMY	Common Stock	Tax liability	$261,367	-31,874	-2.6%	$8.20	1,203,235	15 Mar 2025	Direct	F2

* 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	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.

Content

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.

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.