Heather Hiles - 11 May 2026 Form 4 Insider Report for Udemy, Inc. (UDMY)

Reporting relationship: Director
Issuer ticker: UDMY
Reported as of: 11 May 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 11 May 2026, 16:07:48 UTC
Prior SEC filing: 20 Jun 2025
Source filing: View source filing
Reporting owner signature: /s/ James Babikian, Attorney-in-Fact

Key filing fact

Heather Hiles filed Form 4 for Udemy, Inc. (UDMY) on 11 May 2026.

Key facts

This page summarizes Heather Hiles's Form 4 filing for Udemy, Inc. (UDMY).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 11 May 2026, 16:07.

Change

Previous filing in this sequence was filed on 20 Jun 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001883136 Primary reporting owner

Hiles Heather

Relationship: Director
Address: 600 HARRISON ST, 3RD FLOOR, SAN FRANCISCO
Signature: /s/ James Babikian, Attorney-in-Fact
Signature date: 11 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

UDMY transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -70,143
Change %: -100%
Price
Shares after: 0
Date: 11 May 2026
Ownership: Direct
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

UDMY transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -100,000
Change %: -100%
Price
Shares after: 0
Date: 11 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 100,000
Exercise price: $11.13
Footnotes: F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Heather Hiles is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

Pursuant to that certain Agreement and Plan of Merger dated December 17, 2025 (the "Merger Agreement") by and among the Issuer, Coursera, Inc. ("Coursera"), and Chess Merger Sub, Inc., a wholly owned subsidiary of Coursera ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer continuing as the surviving corporation and a wholly owned subsidiary of Coursera.

Footnote F2

At the effective time of the Merger (the "Effective Time"), each share of common stock of the Issuer (the "Udemy Common Stock") issued and outstanding immediately prior to the Effective Time (other than certain excluded shares) was converted into the right to receive 0.800 shares of common stock of Coursera ("Coursera Common Stock") and each restricted stock unit award covering shares of Udemy Common Stock that was not subject to performance-based vesting conditions and was not granted in respect of services as a non-employee director of the Issuer (each, a "Director RSU Award") was converted into the right to receive a number of shares of Coursera Common Stock equal to the product of the number of shares of Udemy Common Stock that were subject to the such Director RSU Award as of immediately prior to the Effective Time, multiplied by 0.800 (rounded to the nearest whole share).

Footnote F3

One-fourth of the shares underlying the option vested on August 26, 2021 and 1/48th of the remaining shares vested monthly thereafter.

Footnote F4

At the Effective Time, each option to purchase shares of Udemy Common Stock (a "Udemy Stock Option") that was outstanding and unexercised, whether vested or unvested, was converted into a number of shares of Coursera Common Stock equal to the product of (1) the spread of (x) (i) the average closing price of Coursera Common Stock for the five full trading days preceding the closing of the Merger, multiplied by (ii) 0.800 over (y) the applicable per share exercise price, multiplied by (2) the number of shares of Udemy Common Stock subject to such award. Underwater Udemy Stock Options were cancelled for no consideration.