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

Patricia Nakache, a director of ThredUp Inc., reported the conversion and sale of Class A and Class B Common Stock through 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 transactions involved the conversion of Class B Common Stock into Class A Common Stock and subsequent sales 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 6, 7, and 10, 2025, at prices ranging from $2.50 to $2.69 per share.
• The shares were 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.
• Nakache also directly owns 250,956 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but the fact that a director is selling shares could be interpreted neutrally to slightly negatively depending on the context and the investor's perspective.

Risks

• The Form 4 filing indicates sales of stock by a director, which could be perceived negatively by investors.
• The reliance on a 10b5-1 plan suggests a predetermined selling strategy, which may or may not be related to the company's current performance.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• Shareholders may be interested in the trading activity of company insiders as an indicator of confidence in the company's future prospects.

Key Dates

Keywords

Form 4, ThredUp, TDUP, Patricia Nakache, Trinity Ventures, 10b5-1 plan, insider trading, beneficial ownership, stock sales, Class A Common Stock, Class B Common Stock