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 (RSUs) on March 1, 2024, due to vesting of RSUs and tax withholding.
Summary
- On March 1, 2024, Sean Sobers, the CFO of ThredUp Inc., engaged in transactions involving the company's Class A Common Stock and Restricted Stock Units (RSUs).
- These transactions included the acquisition of shares through the vesting of RSUs and the disposal of shares to cover tax withholding obligations.
- Specifically, 27,754, 36,958 and 36,666 shares of Class A Common Stock were acquired through RSU vesting.
- Correspondingly, 15,537 and 18,731 and 18,580 shares were disposed of to satisfy tax obligations at a price of $2.11 per share.
- Following these transactions, Sobers directly owns 294,089 shares of Class A Common Stock and 773,056 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing, reflecting standard transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CFO, and provides transparency into their trading activities in the company's stock. It is 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 RSU grants are typical compensation components for executives in similar companies.
- Tax withholding practices related to RSU vesting are also standard.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in the CFO's holdings.
- Employees holding RSUs may be interested in the vesting schedules and tax implications.
Key Dates
| Date | Description |
|---|---|
| April 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. |
| February 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. |
| February 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. |
| March 01, 2024 | Date of transactions involving Class A Common Stock and Restricted Stock Units. |
| March 05, 2024 | Date of signature for the Form 4 filing. |
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