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

Patricia Nakache, a director at 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 the subsequent sale 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 11, 12, and 13, 2025, at weighted average prices ranging from $2.51 to $2.67.
• 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 holds Class A Common Stock directly and indirectly through TVL Management Corp.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing trading plan. There is no indication of positive or negative implications for the company's performance.

Risks

• The Form 4 filing indicates sales of stock by a director, which could be interpreted negatively by the market.
• However, the sales were conducted under a pre-arranged 10b5-1 trading plan, which mitigates concerns about insider trading based on current information.

Future Outlook

The director will likely continue to execute trades under the 10b5-1 trading plan.

Industry Context

Insider trading activity is always closely watched in the market. The use of a 10b5-1 plan provides transparency and reduces the risk of accusations of trading on inside information.

Stakeholder Impact

• The stock sales could create downward pressure on the stock price in the short term.
• However, the existence of a 10b5-1 plan should reassure investors that the sales are not based on inside information.

Key Dates

Keywords

Form 4, ThredUp, Insider Trading, Patricia Nakache, 10b5-1 Plan, Stock Sale, Beneficial Ownership, Trinity Ventures