Form 4: ThredUp Chief Legal Officer Alon Rotem Reports Stock Transactions

ThredUp's Chief Legal Officer, Alon Rotem, reported the acquisition and disposal of Class A Common Stock and Restricted Stock Units (RSUs) on December 1, 2024, primarily due to vesting and tax obligations.

Summary

• Alon Rotem, Chief Legal Officer of ThredUp Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• The transactions occurred on December 1, 2024, and involved the acquisition of Class A Common Stock through the vesting of Restricted Stock Units (RSUs).
• A portion of the acquired shares were then disposed of to cover tax withholding obligations.
• The transactions included the acquisition of 15,944, 25,479, and 25,750 shares of Class A Common Stock through RSU vesting.
• Correspondingly, 8,081, 12,913, and 13,051 shares were disposed of to satisfy tax obligations at a price of $1.73 per share.
• The reported transactions also included the vesting of 15,944, 25,479, and 25,750 Restricted Stock Units.
• Following these transactions, Mr. Rotem's direct holdings include 284,303 shares of Class A Common Stock and 323,859 Restricted Stock Units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It does not indicate any positive or negative sentiment about the company's performance or future prospects.

Industry Context

Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their trading activities. This filing is specific to ThredUp and its Chief Legal Officer.

Comparison to Industry Standards

• Form 4 filings are a common practice across all publicly traded companies in the US.
• The transactions reported are typical for executives who receive stock-based compensation, such as RSUs.
• The sale of shares to cover tax obligations is a standard procedure.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to the vesting of previously granted RSUs and tax obligations of an executive.

Key Dates

Keywords

Form 4, ThredUp, Alon Rotem, insider trading, stock transaction, restricted stock units, RSU, Class A Common Stock, beneficial ownership, tax withholding