Form 4: ThredUp Director Ian Friedman Receives Stock Units in Lieu of Cash Retainer

Director Ian Friedman received 7,012 shares of ThredUp Class A Common Stock on July 24, 2024, in lieu of a cash retainer.

Summary

• On July 24, 2024, Ian Friedman, a director of ThredUp Inc., acquired 7,012 shares of Class A Common Stock.
• The acquisition was a grant of fully vested restricted stock units (RSUs) under the Issuer's 2021 Stock Option and Incentive Plan.
• Each RSU represents the right to receive one share of ThredUp's Class A Common Stock.
• Friedman elected to receive RSUs instead of his annual cash retainer, which is paid in quarterly installments.
• Following the transaction, Friedman beneficially owns 235,748 shares of ThredUp Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking stock instead of cash is generally a good sign, indicating confidence in the company's future.

Positives

• The acceptance of stock in lieu of cash demonstrates confidence in the company's future performance from a director.

Industry Context

Directors accepting 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 and conserves cash for the company.

Stakeholder Impact

• Shareholders may view this positively as it aligns the director's interests with theirs.

Key Dates