Form 4: ThredUp Director Nakache Reports Stock Sales and Conversions

Patricia Nakache, a director at ThredUp Inc., reported the conversion and sale of Class A and Class B common stock through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Patricia Nakache, a director of ThredUp Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report indicates transactions involving Class A and Class B Common Stock.
• On May 15 and 16, 2024, Nakache converted Class B Common Stock into Class A Common Stock.
• Simultaneously, shares of Class A Common Stock were sold at a weighted average price of approximately $2.02 on May 15 and $2.05 on May 16.
• These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 15, 2024.
• The sales were conducted in multiple transactions within price ranges of $1.97 to $2.06 on May 15 and $2.05 to $2.06 on May 16.
• The transactions involved shares held indirectly through Trinity Ventures X, L.P., Trinity X Entrepreneurs' Fund, L.P., and Trinity X Side-By-Side Fund, L.P.
• Nakache disclaims beneficial ownership of these shares except to the extent of her pecuniary interest.
• Following the reported transactions, Nakache continues to hold shares of Class A Common Stock directly and indirectly.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.

Industry Context

Form 4 filings are standard disclosures for corporate insiders and provide transparency into their trading activities. These filings are closely watched by investors to gauge sentiment and potential future stock performance.

Stakeholder Impact

• Shareholders may be interested in the director's stock sales as an indicator of the company's prospects.
• The transactions could influence investor sentiment and potentially the stock price.

Key Dates