Form 4: Trinity Ventures Partner Nakache Reports ThredUp Stock Sales and Conversions

Patricia Nakache, a partner at Trinity Ventures and a director of ThredUp, reported the conversion of Class B Common Stock to Class A Common Stock and the sale of Class A Common Stock, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Patricia Nakache, a director of ThredUp Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
• The report indicates that Nakache, through associated entities like Trinity Ventures X, L.P., converted Class B Common Stock into Class A Common Stock on March 21, 2025.
• Simultaneously, shares of Class A Common Stock were sold at a weighted average price of $2.46 per share.
• These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 15, 2024.
• Nakache also disclaims beneficial ownership of shares held by Trinity Ventures X, L.P., Trinity X Entrepreneurs' Fund, L.P., Trinity X Side-By-Side Fund, L.P. and TVL Management Corp. except to the extent of her pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.

Stakeholder Impact

• The stock sales by a director may be perceived negatively by some shareholders, while others may view it as part of a pre-planned strategy.

Key Dates

Keywords

Form 4, ThredUp, Trinity Ventures, Patricia Nakache, Stock Sale, Class A Common Stock, Class B Common Stock, Rule 10b5-1, Beneficial Ownership, Director