Form 4: Coursera Director Scott Sandell Reports Changes in Beneficial Ownership

Director Scott Sandell reports acquisition of restricted stock units and changes in beneficial ownership of Coursera, Inc. shares.

Summary

• On May 22, 2024, Scott Sandell, a director of Coursera, Inc., reported changes in his beneficial ownership of the company's stock.
• Sandell acquired 18,669 shares of common stock through restricted stock units (RSUs) at a price of $0.
• These RSUs will vest and convert into shares on the earlier of May 22, 2025, or the company's 2025 annual meeting, contingent upon continuous service.
• Sandell also indirectly owns 10,661,886 shares through NEA 13 and 2,205,883 shares through NEA 17, but disclaims beneficial ownership of these shares to the extent he has no pecuniary interest.
• Following the reported transactions, Sandell directly owns 50,205 shares of Coursera common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard regulatory filing indicating changes in ownership. The acquisition of RSUs could be seen as slightly positive, but it's not a major event.

Positives

• The acquisition of restricted stock units by a director could be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The RSUs will fully vest and convert into shares on the earlier of May 22, 2025, or the company's 2025 annual meeting, subject to continuous service with the issuer through the applicable vesting date.

Management Comments

• The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the securities held by NEA 13 and NEA 17 in which the Reporting Person has no pecuniary interest.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is common for publicly traded companies like Coursera.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies, such as Coursera, to report changes in their beneficial ownership.
• Similar filings are made by insiders at companies like Udacity and edX (owned by 2U, Inc.) to comply with SEC regulations.

Stakeholder Impact

• The change in ownership may have a minor impact on shareholders, as it reflects insider activity.

Key Dates