Gregory Scott Brown - 20 May 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 May 2025
Net transactions value: +$19,691
Form type: 4
Filing time: 22 May 2025, 18:10:00 UTC
Previous filing: 19 May 2025
Next filing: 16 Jun 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Brown Gregory Scott	Director	C/O UDEMY, INC., 600 HARRISON STREET, 3RD FLOOR, SAN FRANCISCO	/s/ James Babikian, Attorney-in-Fact	21 May 2025	0001713577

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UDMY	Common Stock	Award	$19,691	+3,315	+0.28%	$5.94	1,195,888	20 May 2025	Direct	F1

* 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 acquisition of shares of the issuer's common stock pursuant to the Udemy, Inc. 2021 Employee Stock Purchase Plan (the ESPP), for the ESPP purchase period of November 20, 2024 through May 20, 2025. This transaction is also exempt pursuant to Rule 16b-3(c). In accordance with the ESPP, these shares were purchased based on 85% of the closing price of the Issuer's common stock on the offering period begin date of November 20, 2024.

Content

The acquisition of shares of the issuer's common stock pursuant to the Udemy, Inc. 2021 Employee Stock Purchase Plan (the ESPP), for the ESPP purchase period of November 20, 2024 through May 20, 2025. This transaction is also exempt pursuant to Rule 16b-3(c). In accordance with the ESPP, these shares were purchased based on 85% of the closing price of the Issuer's common stock on the offering period begin date of November 20, 2024.