Form 4: Trinity Ventures Partner Nakache Reports ThredUp Stock Transactions

Patricia Nakache, a partner at Trinity Ventures and a director of ThredUp Inc., reported transactions involving Class A and Class B Common Stock, including conversions and sales, executed under a Rule 10b5-1 trading plan.

Summary

• On July 15, 2024, Patricia Nakache, a director of ThredUp Inc., reported transactions involving the company's stock.
• These transactions included the conversion of Class B Common Stock into Class A Common Stock and the sale of Class A Common Stock.
• The sales were executed at a weighted average price of $1.79 per share, with individual transactions ranging from $1.77 to $1.83.
• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on March 15, 2024.
• Nakache also reported indirect beneficial ownership through Trinity Ventures X, L.P., Trinity X Entrepreneurs' Fund, L.P., Trinity X Side-By-Side Fund, L.P., and TVL Management Corp.
• Following the reported transactions, Nakache's direct holdings include 240,438 shares of Class A Common Stock and indirect holdings through various Trinity Funds.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports stock transactions under a pre-existing trading plan, with no explicit positive or negative implications for the company's performance.

Industry Context

This filing reflects routine transactions by a company insider and is typical for individuals holding significant positions in publicly traded companies. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• Rule 10b5-1 trading plans are widely used by corporate insiders at companies like Amazon, Apple, and Tesla to sell shares over time without facing insider trading accusations.
• The reported weighted average sale price of $1.79 is within the typical range for insider transactions, which often reflect market conditions and pre-determined strategies.
• Similar filings can be seen from executives at comparable companies like Poshmark and The RealReal, detailing stock sales and conversions.

Key Dates