Robert Rosenthal - 23 Feb 2026 Form 4 Insider Report for Udemy, Inc. (UDMY)

Role: President, Udemy Business
Signature: /s/ James Babikian, Attorney-in-Fact
Issuer symbol: UDMY
Transactions as of: 23 Feb 2026
Net transactions value: -$24,457
Form type: 4
Filing time: 25 Feb 2026, 16:44:42 UTC
Previous filing: 16 Dec 2025
Next filing: 27 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Rosenthal Robert	President, Udemy Business	C/O UDEMY, INC., 600 HARRISON STREET, 3RD FLOOR, SAN FRANCISCO	/s/ James Babikian, Attorney-in-Fact	25 Feb 2026	0002025619

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UDMY	Common Stock	Award	$0	+34,148	+11%	$0.000000	351,970	23 Feb 2026	Direct	F1
transaction	UDMY	Common Stock	Tax liability	$24,457	-4,981	-1.4%	$4.91	346,989	24 Feb 2026	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, 2025. On February 23, 2026, a performance-based vesting condition was achieved with respect to the award. The PSUs remain subject to time-based vesting under which one-third of the total number of PSUs vest on February 24, 2026, and then 1/12th of the total number of PSUs will vest on each March 15, June 15, September 15, and December 15 thereafter, starting with June 15, 2026, 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, 2025. On February 23, 2026, a performance-based vesting condition was achieved with respect to the award. The PSUs remain subject to time-based vesting under which one-third of the total number of PSUs vest on February 24, 2026, and then 1/12th of the total number of PSUs will vest on each March 15, June 15, September 15, and December 15 thereafter, starting with June 15, 2026, 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.