Dale R. Brown - Jun 13, 2023 Form 4 Insider Report for Gitlab Inc. (GTLB)

Role
Principal Accounting Officer
Signature
/s/ Robin Schulman, Attorney-in-Fact for Dale R. Brown
Stock symbol
GTLB
Transactions as of
Jun 13, 2023
Transactions value $
-$134,000
Form type
4
Date filed
6/15/2023, 07:05 PM
Previous filing
May 9, 2023
Next filing
Jun 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction GTLB Class A Common Stock Conversion of derivative security $0 +2.68K +16.21% $0.00 19.2K Jun 13, 2023 Direct F1
transaction GTLB Class A Common Stock Sale -$134K -2.68K -13.95% $50.00 16.5K Jun 13, 2023 Direct F2, F3

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 GTLB Stock Option (Right to buy Class B Common Stock) Options Exercise $0 -375 -1.3% $0.00 28.5K Jun 13, 2023 Class B Common Stock 375 $17.82 Direct F2, F4
transaction GTLB Stock Option (Right to buy Class B Common Stock) Options Exercise $0 -2.31K -3.97% $0.00 55.8K Jun 13, 2023 Class B Common Stock 2.31K $8.90 Direct F2, F5
transaction GTLB Class B Common Stock Options Exercise +375 375 Jun 13, 2023 Class A Common Stock 375 $17.82 Direct F1, F2
transaction GTLB Class B Common Stock Options Exercise +2.31K 2.31K Jun 13, 2023 Class A Common Stock 2.31K $8.90 Direct F1, F2
transaction GTLB Class B Common Stock Conversion of derivative security -2.68K -100% 0 Jun 13, 2023 Class A Common Stock 2.68K Direct F1

Explanation of Responses:

Id Content
F1 Each share of the Company's Class B Common Stock is convertible into one share of the Company's Class A Common Stock at any time and will convert automatically upon certain transfers and upon the earlier of (i) ten years from the date of the closing of the Company's initial public offering (the "IPO"), (ii) the death or disability of Sytse Sijbrandij, the chief executive officer of the Company, (iii) the first date following the completion of the IPO on which the number of shares of outstanding Class B Common Stock (including shares of Class B Common Stock subject to outstanding stock options) is less than 5% of the aggregate number of shares of the Company's common stock then outstanding, and (iv) the date specified by a vote of the holders of two-thirds of the then outstanding shares of Class B Common Stock.
F2 The option exercises and sales reported on this Form 4 were executed pursuant to a trading plan entered into by the reporting person on December 23, 2021 and amended on June 29, 2022 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F3 Includes shares of Class A Common Stock that have not yet vested. This also includes shares acquired pursuant to the Company's Employee Stock Purchase Plan.
F4 The option vested as to 25% of the total shares on March 18, 2022, and 1/48 of the total shares will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.
F5 The option vested as to 25% of the total shares on October 1, 2020, and 1/48 of the total shares will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.