Form 4: Patricia Nakache Receives Stock Grant in Lieu of Cash Retainer at ThredUp Inc.

Patricia Nakache, a director and 10% owner of ThredUp Inc., received 8,668 shares of Class A Common Stock on February 26, 2024, as a grant of fully vested restricted stock units (RSUs) in lieu of her annual cash retainer.

Summary

• On February 26, 2024, Patricia Nakache, a director and 10% owner of ThredUp Inc., acquired 8,668 shares of Class A Common Stock.
• The acquisition was a grant of fully vested restricted stock units (RSUs) under the Issuer's 2021 Stock Option and Incentive Plan.
• Nakache elected to receive RSUs in lieu of her annual cash retainer, which is paid in quarterly installments.
• The price per share was $0.
• Following the transaction, Nakache beneficially owns 153,405 shares of Class A Common Stock directly.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transaction is a standard compensation practice, indicating a healthy corporate governance structure. The director's decision to take RSUs instead of cash could be seen as a positive sign of confidence in the company's future.

Positives

• The receipt of RSUs in lieu of cash retainer aligns Nakache's interests with those of the shareholders.
• The grant of RSUs is part of the Issuer's 2021 Stock Option and Incentive Plan, suggesting a structured approach to executive compensation.

Industry Context

This type of stock grant is a common practice for compensating directors and aligning their interests with the company's performance. It's typical for companies to offer stock options or RSUs as part of their compensation packages to incentivize long-term growth and shareholder value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates