Form 4: ThredUp CFO Sean Sobers Reports Stock Transactions
SEC Form 4 Filing
Sean Sobers, CFO of ThredUp Inc., reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units on September 1, 2024.
Summary
- On September 1, 2024, Sean Sobers, the Chief Financial Officer of ThredUp Inc., engaged in transactions involving the company's Class A Common Stock and Restricted Stock Units (RSUs).
- Sobers acquired shares through the vesting of RSUs and disposed of shares to cover tax withholding obligations.
- Specifically, 27,754, 36,958, and 36,667 shares were acquired through RSU vesting, while 14,066, 18,731, and 18,583 shares were disposed of to satisfy tax obligations at a price of $0.914 per share.
- Following these transactions, Sobers directly owns 404,087 shares of Class A Common Stock and holds 570,298 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment. It simply reflects the CFO's activity related to stock options and tax obligations.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CFO, and provides transparency regarding their transactions in the company's stock. It's a standard practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules and tax withholding practices are typical for RSU grants.
- Comparable companies like Poshmark or The RealReal would have similar filings from their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 04/11/2022 | Reporting Person was granted 307,427 RSUs, which vested 6.25% in quarterly installments on each of June 1, 2022, September 1, 2022 and December 1, 2022, and beginning on March 1, 2023, vest 9.03% in quarterly installments on March 1, June 1, September 1 and December 1 until fully vested |
| 02/15/2023 | Reporting Person was granted 443,495 RSUs, vesting in twelve equal quarterly installments on June 1, September 1, December 1 and March 1 until fully vested |
| 02/26/2024 | Reporting Person was granted 440,000 RSUs, vesting in twelve equal quarterly installments on June 1, September 1, December 1 and March 1 until fully vested |
| 09/01/2024 | Date of earliest transaction: Acquisition and disposal of Class A Common Stock and Restricted Stock Units. |
| 09/04/2024 | Date of signature for the Form 4 filing. |
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