SCHEDULE 13G/A: ThredUp Co-Founder James Reinhart Discloses Significant 7.9% Beneficial Ownership Stake

ThredUp Inc. co-founder James G. Reinhart has filed an amended Schedule 13G, disclosing a beneficial ownership of 7.9% of the company's Class A common stock, representing 18.4% of the combined voting power.

Summary

• James G. Reinhart, a co-founder of ThredUp Inc., has filed an Amendment No. 3 to Schedule 13G, detailing his beneficial ownership in the company.
• As of March 31, 2025, Mr. Reinhart beneficially owns an aggregate of 7,866,049 shares of ThredUp Inc. common stock.
• This ownership represents approximately 7.9% of the outstanding Class A common stock, calculated by treating all Class B shares as converted to Class A for reporting purposes.
• The reported percentage of Class A common stock is based on 92,620,063 Class A shares and 23,574,629 Class B shares outstanding as of February 24, 2025, as per the company's Form 10-K.
• Mr. Reinhart's total beneficial ownership accounts for 18.4% of the aggregate combined voting power of both Class A and Class B common stock, noting that Class B shares carry ten votes per share compared to one vote for Class A shares.
• His sole voting and dispositive power extends to 4,837,625 shares, comprising 446,117 Class B shares, 2,976,393 Class B shares from exercisable stock options, and 1,415,115 Class A shares.
• Shared voting and dispositive power covers 3,028,424 shares, which include 2,583,795 Class B shares held by the Costanoa Family Trust and 444,629 Class B shares held by The Costanoa 2017 Irrevocable GST Trust, both for which James and Michele Reinhart serve as Trustees.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The filing indicates a significant and continued insider stake by a co-founder, which can be interpreted as a sign of confidence in the company's future. While it's a routine disclosure, the substantial ownership, including exercisable options, suggests alignment of management's interests with shareholders.

Positives

• The continued significant beneficial ownership by co-founder James G. Reinhart, representing 7.9% of Class A common stock and 18.4% of combined voting power, signals strong insider confidence in ThredUp's long-term prospects.
• A substantial portion of Mr. Reinhart's ownership (2,976,393 Class B shares) comes from stock options exercisable within 60 days, indicating active engagement with his equity incentives.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership by a key insider and does not provide information directly related to broader industry trends or competitive landscape beyond the company's internal ownership structure.

Related Party Transactions

• A portion of the beneficially owned shares (3,028,424 Class B shares) are held through the Costanoa Family Trust and The Costanoa 2017 Irrevocable GST Trust, for which James Reinhart and Michele Reinhart serve as Trustees. These trusts represent related party holdings.

Stakeholder Impact

• Shareholders: The disclosure provides transparency regarding the significant ownership stake of a key insider, James G. Reinhart, which can influence investor confidence and perception of management alignment.
• Employees: While not directly impacted by this ownership disclosure, the stability implied by strong insider ownership can indirectly affect employee morale and long-term company strategy.

Key Dates

Keywords

ThredUp Inc., James G. Reinhart, Beneficial Ownership, SEC Filing, Schedule 13G, Class A Common Stock, Class B Common Stock, Voting Power, Insider Ownership, Stock Options, Corporate Governance