Form 4: Udemy CEO Gregory Brown Sells Shares to Cover Tax Obligations

Udemy's CEO, Gregory Scott Brown, disposed of 10,641 shares of common stock to cover tax obligations related to vesting of restricted stock units.

Summary

• Gregory Scott Brown, the President and CEO of Udemy, Inc., disposed of 10,641 shares of common stock on November 15, 2024.
• The shares were disposed of at a price of $8.15 per share.
• This transaction was not a sale, but rather shares withheld by Udemy to satisfy tax obligations related to the vesting of restricted stock units and performance stock units.
• Following the transaction, Mr. Brown beneficially owns 1,193,086 shares of Udemy common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. It is not indicative of any positive or negative sentiment towards the company's performance or future prospects.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for companies to withhold shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations is standard across publicly traded companies.
• Many companies use restricted stock units and performance stock units as part of executive compensation packages, and these often trigger tax liabilities upon vesting.
• Similar transactions are regularly reported by executives at other tech companies such as Coursera, Skillsoft, and Pluralsight.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax-related disposal of shares, not a sale.

Key Dates

Keywords

Udemy, Gregory Scott Brown, stock disposal, Form 4, insider trading, tax withholding, restricted stock units, performance stock units