Form 4: ThredUp Director Jack R. Lazar Receives Stock Units in Lieu of Cash Retainer

Director Jack R. Lazar received 8,090 shares of ThredUp Inc. Class A Common Stock on February 26, 2024, as fully vested restricted stock units (RSUs) in lieu of his annual cash retainer.

Summary

• On February 26, 2024, Jack R. Lazar, a director of ThredUp Inc., acquired 8,090 shares of Class A Common Stock.
• The acquisition was in the form of fully vested restricted stock units (RSUs) granted under the company's 2021 Stock Option and Incentive Plan.
• Lazar elected to receive these RSUs instead of his annual cash retainer, which is typically paid in quarterly installments.
• Following the transaction, Lazar directly owns 172,052 shares of ThredUp Inc. Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director accepting stock in lieu of cash suggests confidence in the company's prospects. However, it's a routine transaction.

Positives

• The director's decision to receive stock units instead of cash may signal confidence in the company's future performance.
• The grant of RSUs aligns the director's interests with those of the shareholders.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Management Comments

• The Reporting Person elected to receive RSUs in lieu of his annual cash retainer, which retainer is paid in quarterly installments.

Industry Context

This type of equity compensation is common for directors of publicly traded companies, aligning their interests with shareholders and incentivizing them to increase company value.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the industry.
• Companies like Poshmark and RealReal also utilize stock options and RSUs as part of their director compensation packages.
• The amount of equity granted varies based on company size, performance, and individual director contributions.

Stakeholder Impact

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

Key Dates