Form 4: ThredUp Director Patricia Nakache Executes Stock Transactions Under 10b5-1 Plan

Patricia Nakache, a director at ThredUp Inc., executed multiple transactions involving Class A and Class B common stock, including sales and conversions, under a pre-arranged 10b5-1 trading plan.

Summary

• Patricia Nakache, a director of ThredUp Inc., engaged in several transactions involving the company's stock on December 9, 2024.
• These transactions included the conversion of Class B common stock to Class A common stock, and the sale of Class A common stock.
• The sales were executed at a weighted average price of $1.77 per share, with individual transactions ranging from $1.77 to $1.79.
• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on March 15, 2024.
• Nakache also holds shares indirectly through various Trinity Ventures funds and TVL Management Corp.
• The report details both direct and indirect ownership changes, with Nakache disclaiming beneficial ownership except for her pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by a director, which is neither positive nor negative in itself. The use of a 10b5-1 plan suggests a planned approach to selling shares.

Risks

• The transactions were executed under a pre-arranged 10b5-1 trading plan, which could indicate a planned reduction in holdings.
• The sale of shares by a director could be perceived negatively by the market, potentially impacting investor confidence.

Management Comments

• The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of her pecuniary interest therein.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for publicly traded companies. It provides transparency into the transactions of company directors and officers.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The use of a 10b5-1 trading plan is a common method for insiders to sell shares while avoiding accusations of trading on non-public information, similar to practices at other companies like Amazon and Apple.
• The reported transactions are typical for directors who may have a significant portion of their compensation in stock options or grants.

Stakeholder Impact

• The sale of shares by a director could potentially impact shareholder confidence, although the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

ThredUp, stock transactions, Form 4, insider trading, Rule 10b5-1, Patricia Nakache, Trinity Ventures, Class A Common Stock, Class B Common Stock, director