Form 4: TaskUs CEO Bryce Maddock Converts Over 2.4 Million Class B Shares to Class A Common Stock

TaskUs, Inc. CEO, Director, and 10% Owner Bryce Maddock has converted 2,452,663 shares of Class B Common Stock into Class A Common Stock, held indirectly through family trusts.

Summary

• Bryce Maddock, the Chief Executive Officer, Director, and a 10% Owner of TaskUs, Inc. (TASK), reported a change in beneficial ownership.
• On May 23, 2025, Mr. Maddock converted a total of 2,452,663 shares of Class B Common Stock into Class A Common Stock.
• The conversions occurred in three separate transactions: 1,118,321 shares, 1,193,789 shares, and 140,553 shares.
• These shares were held indirectly through The Bryce Maddock Family Trust, The Maddock 2015 Irrevocable Trust, and The Maddock 2015 Exempt Irrevocable Trust, respectively, where Mr. Maddock serves as trustee or business trustee.
• Each share of Class B Common Stock is entitled to ten votes per share and is convertible at any time into one share of Class A Common Stock.
• Class B Common Stock also converts automatically upon certain transfers and specific events as outlined in the Issuer's Second Amended and Restated Certificate of Incorporation.
• The conversion price for these transactions was reported as $0, as it represents an exchange of share classes.
• Following these conversions, Mr. Maddock indirectly beneficially owns 4,102,946 Class B shares via The Bryce Maddock Family Trust, 4,379,831 Class B shares via The Maddock 2015 Irrevocable Trust, and 515,667 Class B shares via The Maddock 2015 Exempt Irrevocable Trust.
• Mr. Maddock also directly owns 1,021,540 shares of Class A Common Stock.
• The Reporting Person disclaims beneficial ownership over the indirectly held securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing reporting a conversion of shares by an insider, which is a procedural event and does not inherently convey positive or negative sentiment regarding the company's performance or outlook.

Risks

• The existence of Class B Common Stock, which carries ten votes per share compared to Class A Common Stock, concentrates voting power and may pose corporate governance risks by limiting the influence of Class A shareholders on company decisions.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing details a routine insider transaction involving the conversion of shares, which is specific to the company's capital structure and does not directly reflect broader industry trends or competitive dynamics.

Related Party Transactions

• The reported transactions involve the conversion of shares by Bryce Maddock, the Chief Executive Officer, Director, and a 10% Owner of TaskUs, Inc., making these related-party transactions.

Stakeholder Impact

• Shareholders: The conversion of Class B to Class A shares does not change the total economic interest of the insider but may slightly increase the float of Class A shares over time, potentially impacting liquidity. It also reduces the number of shares with disproportionate voting rights held by the insider, which could be viewed as a minor positive for corporate governance over the long term, though the dual-class structure remains.

Key Dates

Keywords

TaskUs, SEC Form 4, Insider Transaction, Stock Conversion, Class A Common Stock, Class B Common Stock, Beneficial Ownership, Bryce Maddock, Corporate Governance