Form 4: ThredUp Director Coretha M. Rushing Acquires Shares in Lieu of Cash Retainer

Coretha M. Rushing, a director at ThredUp Inc., acquired shares of Class A Common Stock in lieu of her annual cash retainer.

Summary

• On February 26, 2024, Coretha M. Rushing, a director of ThredUp Inc., acquired 5,779 shares of Class A Common Stock.
• The shares were granted as fully vested restricted stock units (RSUs) under the company's 2021 Stock Option and Incentive Plan.
• Rushing elected to receive the RSUs in lieu of her annual cash retainer, which is paid in quarterly installments.
• Following the transaction, Rushing directly owns 118,561 shares of ThredUp's Class A Common Stock.

Sentiment

Score: 6

Explanation: Neutral sentiment. The transaction is a routine director compensation matter. It doesn't indicate any significant positive or negative development for the company.

Positives

• A director's decision to take equity instead of cash may signal confidence in the company's future performance.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice, especially in growth-oriented companies. It aligns the director's interests with those of the shareholders.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates