Form 4: ThredUp Director Nakache Reports Share Sales Under 10b5-1 Plan

Patricia Nakache, a director of ThredUp Inc., reported the conversion of Class B Common Stock to Class A Common Stock and subsequent sales of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• Patricia Nakache, a director at ThredUp Inc., filed a Form 4 detailing changes in beneficial ownership.
• The transactions involved the conversion of Class B Common Stock into Class A Common Stock.
• Nakache, through associated entities like Trinity Ventures X, L.P., Trinity X Entrepreneurs' Fund, L.P., and Trinity X Side-By-Side Fund, L.P., converted and sold shares of Class A Common Stock.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on March 15, 2024.
• The sales occurred on February 3, 2025, February 4, 2025, and February 5, 2025, at weighted average prices ranging from $2.30 to $2.61 per share.
• Nakache also holds shares directly and indirectly through TVL Management Corp.
• The reporting person disclaims beneficial ownership of the shares reported herein except to the extent of her pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.

Industry Context

This filing is a routine disclosure of insider transactions and provides insight into the trading activities of a director at ThredUp. It's common for executives and directors to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased supply of shares in the market.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely negligible.

Key Dates

Keywords

Form 4, ThredUp, TDUP, Insider Trading, Beneficial Ownership, Patricia Nakache, Trinity Ventures, Rule 10b5-1, Share Sales, Class A Common Stock, Class B Common Stock, Conversion