Form 4: ThredUp Chief Legal Officer Alon Rotem Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Alon Rotem, Chief Legal Officer of ThredUp Inc., sold shares of Class A Common Stock on July 17 and 18, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Alon Rotem, the Chief Legal Officer of ThredUp Inc., reported the sale of Class A Common Stock.
- The transactions occurred on July 17 and 18, 2024.
- On July 17, 2024, 23,042 shares were sold at a weighted average price of $2.0077 per share.
- On July 18, 2024, 300 shares were sold at a price of $2.03 per share.
- These sales were executed under a Rule 10b5-1 trading plan previously adopted by Rotem.
- Following these transactions, Rotem directly owns 218,048 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports routine stock sales under a pre-arranged plan. It doesn't inherently indicate positive or negative prospects for the company.
Industry Context
Insider selling can sometimes be interpreted negatively by the market, but the use of a pre-arranged 10b5-1 trading plan suggests the sales were planned in advance and not based on current inside information.
Stakeholder Impact
- Shareholders may react to insider selling, although the 10b5-1 plan mitigates concerns about opportunistic trading.
Key Dates
| Date | Description |
|---|---|
| 07/17/2024 | Sale of 23,042 shares of Class A Common Stock at a weighted average price of $2.0077. |
| 07/18/2024 | Sale of 300 shares of Class A Common Stock at a price of $2.03. |
| 07/19/2024 | Date of Form 4 filing. |
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