Form 4: ThredUp Director Nakache Reports Stock Sales Under 10b5-1 Plan
SEC Form 4
Director Patricia Nakache reports multiple sales and conversions of ThredUp Inc. stock under a pre-arranged 10b5-1 trading plan.
Summary
- Patricia Nakache, a director of ThredUp Inc., filed a Form 4 detailing changes in beneficial ownership.
- The reported transactions involve the conversion of Class B Common Stock to Class A Common Stock and the sale of Class A Common Stock.
- These transactions were executed between March 18, 2025, and March 20, 2025.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on March 15, 2024.
- The sales prices for Class A Common Stock ranged from $2.19 to $2.57.
- The transactions were carried out by Trinity Ventures X, L.P., Trinity X Entrepreneurs' Fund, L.P., and Trinity X Side-By-Side Fund, L.P., entities in which Nakache has an indirect interest.
- Nakache disclaims beneficial ownership of the shares except to the extent of her pecuniary interest.
- After the reported transactions, Nakache continues to hold shares of Class A Common Stock directly and indirectly through various entities.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions by an insider. It doesn't convey any explicit positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider and doesn't necessarily indicate a change in the company's prospects or strategic direction. It is common for executives and directors to utilize 10b5-1 trading plans to diversify their holdings over time.
Stakeholder Impact
- The stock sales by a director could be perceived negatively by some shareholders, potentially creating short-term selling pressure.
- However, the existence of a 10b5-1 plan mitigates concerns that the sales are based on insider information.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 03/18/2025 | Date of first reported transaction (conversion and sale of shares) |
| 03/19/2025 | Date of second reported transaction (conversion and sale of shares) |
| 03/20/2025 | Date of third reported transaction (conversion and sale of shares) and filing date of the Form 4 |
Keywords
ThredUp, Patricia Nakache, Form 4, Beneficial Ownership, Stock Sale, 10b5-1 Plan, Trinity Ventures, TDUP
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